- TSA accruals hit N8.9tr – Adeosun
The Minister of Finance, Kemi Adeosun, said on Monday the Treasury Single Account (TSA) total accruals stand at N8.9 trillion as at February 9.
She made the disclosure at the House of Representatives investigative hearing into the money accrued into the TSA.
The minister, who was represented by the Accountant General of the Federation, Ahmed Idris, told the lawmakers that a total sum of N480 billion is saved annually since the introduction of the TSA policy in 2015.
Prior to the implementation of the TSA policy, over N70 billion was lost to leakages through 17,000 accounts operated by the Ministries, Departments and Agencies (MDAs), she said.
According to her, the revenue was remitted through 1,634 MDAs’ accounts and 3,118 sub-accounts captured in the TSA as at March 22.
Adeosun said: “Approval for the exemption of some accounts was given by Mr. President, including West African Examination Council (WAEC) and Joint Venture Accounts of Nigerian National Petroleum Corporation (NNPC) because of other partners involved in the operations of the accounts.”
She said the accounts are being operated with certain Deposit Money Banks (DMBs).
