- The Central Bank of Nigeria, Wednesday said government ministries and departments were complying with a presidential order for more transparency over revenues as part of a crackdown on graft.
- Asked by AFP on Wednesday whether the deadline had been met, Central Bank of Nigeria spokesman Mu’azu Ibrahim said: “So far so good.
“We are happy with the level of compliance by the ministries, departments and parastatals with the president’s directive on a Treasury Single Account (TSA).”
- Commercial banks are also making efforts to comply with the directive, and no extension to the deadline will be considered, he added.
- Nigeria’s Accountant-General Ahmed Idris has lauded compliance with the directive on the single account, his office said in a statement on Wednesday.
According to Idris, “while expressing satisfaction with the level of compliance, affirmed that the Treasury Single Account has come to stay, that the compliance is an indication that Nigeria is at the threshold of a new era of transparent and accountable management of public finances,” it said.
- Industry analysts believe the TSA will end the practice of departments maintaining multiple accounts for government revenues, reducing the chance of fraud and improving monitoring.
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