The Federal Government may be considering the applications of 13 agencies which made a case to be exempted from complying with President Muhammadu Buhari’s directive to all federal parastatals to pay their revenues into the Treasury Single Account (TSA) domiciled with the Central Bank of Nigeria (CBN) by September 15.
According to a source, several agencies of government had applied to the Office of the Accountant General of the Federation (OAGF), showing reasons why they should be excluded from the TSA in view of the peculiar nature of their operations.
It was learnt that of the several applications submitted by Fffice ederal agencies for exemption, the Office of the Accountant -General of the Federation only considered the requests of 13 agencies including the Bank of Industry (BoI), Power Holding Company of Nigeria (PHCN), Bank of Agriculture (BoA), Transcorp Hilton Hotel, Niger Delta Power Holding Company (NDPHC), Urban Development Bank (UDB), Nigerian Import-Export Bank (Nexim), Ajaokuta Steel Company, Federal Mortage Bank of Nigeria (FMBN), Nigerian Railways Limited, the Nigerian National Petroleum Corporation (NNPC), National Integrated Power Project (NIPP) and Galaxy Backbone.
Following this development, the OAGF, through a circular dated September 14 to the CBN Director, Banking and Payment Systems Department, Mr. Dipo Fatokun, requested that the affected agencies be exempted from making remittances to the TSA.
The exemption confirms the statement made by the Group Managing Director of NNPC, Dr. Ibe Kachikwu, last month that the corporation would make representations to the federal government seeking exemption from making remittances to the TSA.
