President Muhammadu Buhari has given all Ministries, Departments and Agencies, MDAs, up till Tuesday, September 15, 2015 to fully comply with his directive that all revenues due to the Federal Government or any of its agencies must be paid into the Treasury Single Account, TSA, or designated accounts maintained and operated in the Central Bank of Nigeria, CBN, except otherwise expressly approved.
A circular to MDAs, issued by the Head of the Civil Service of the Federation, Mr. Danladi Kifasi, urged them to ensure strict compliance with the deadline to avoid sanctions.
The circular–HCSF/428/S.1/125 of September 4, 2015, noted that a number of MDAs were yet to comply with Circular Ref. No. HCSF/428/S.1/120 of August 7, 2015, which conveyed President Buhari’s original directive on the payment of all Federal Government revenues into a Treasury Single Account.
President Buhari had on August 9 ordered each and every Federal Government Ministry, Department or Agency to start paying into a Treasury Single Account, TSA, for all government revenues, incomes and other receipts.
The federal government premised the measure specifically to promote transparency and facilitate compliance with Sections 80 and 162 of the 1999 Constitution.
A TSA is a unified structure of bank accounts, enabling consolidation and optimal utilisation of government’s cash resources. It is a bank account or a set of linked bank accounts through which government transacts all its receipts and payments and gets consolidated view of its cash position at any given time.
This presidential directive would end the previous public accounting situation of several fragmented accounts for government revenues, incomes and receipts, which in the recent past, has meant the loss or leakages of legitimate incomes meant for the Federation Account.


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