Accountant General of the Federation (AGF), Ahmed Idris has once again disclosed that one major reason why the Federal Government established the Treasury Single Account (TSA) was to merge the 36 states accounts for transparency in fiscal assessment.
While speaking in Abuja with journalists, the AGF further revealed that the account currently have over N2.7 trillion in it.
Idris said, TSA have enabled the Federal Government to gain full control of its resources, block all loopholes and reduce government borrowings, stating that the money in the account is for federal operations and allocations only.
He acknowledged the fact that, Nigeria is currently going through its worse economy times and this is as a result of global fall in oil price.
The AGF said the 2016 deficit budget had necessitated some radical fiscal steps to be taken by the Federal Government, including funding talks with the World Bank and China Exim Bank by President Buhari, who had ordered that workers’ salaries are paid on or before 25th of every month.
Idris expressed regrets that compliance to this directive has been hampered by the limited resources available to government which can only be determined after the monthly FAAC meeting, giving assurances that the Federal Government was working out ways to ensure that payment of its worker’s salaries on or before 25th of every month be implemented.