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House of Reps give CBN, AG six weeks to provide audit reports on TSA

The House of Representatives has given the Central Bank of Nigeria (CBN) and the Office of the Auditor General of the Federation (OAGF) six weeks to provide it with detailed reconciliation and audit reports of the amounts generated so far in the Treasury Single Account (TSA).

The House said it’s ultimatum was necessitated by the need to know the current and true status of the TSA going by reports that not all Ministries, Departments and Agencies (MDA) have complied with the August 2015 directives of the Federal government on the policy.

The Abubakar Danburam-led ad-hoc committee investigating the status of the TSA said the November 10 deadline is sacrosanct, adding that all money banked in the country are not excluded as long as they have MDAs’ account with them.

The Committee held a closed door meeting with officials from the Office of the Accountant General of the Federation (OAGF), Auditor General’s office as well as CBN and some commercial banks.

According to the Chairman, the Committee was forced to take the decision following the revelation of the Director of Funds, Accountant General’s office Alexander Adeyemi that there were still leakages in collecting funds from agencies despite the existence of TSA.

It would be recalled that the Committee was told last month that the TSA has not been audited by the office of the Auditor General since its inception two years ago.

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