The House of Representatives, on Wednesday, set up an ad hoc committee to liaise with the Central Bank of Nigeria (CBN) and any other agencies of government that has official role in the implementation of the Treasury Single Account (TSA) to ascertain the actual amount realised so far.
The committee is also to ascertain the government’s plans on its spending and the various government agencies, from which such funds were obtained, including a comprehensive list of abandoned projects from which such funds accrued.
The House resolution was sequel to a motion moved by Honourable Adamu Kamale “need to ascertain the proceeds of the TSA to enhance transparency, accountability and good governance.”
The House, however, commended the Federal Government for implementing the TSA as a strategic device to curb corruption and enhance accountability in the management of public expenditure.
While moving the motion, the lawmaker noted that the TSA was a financial policy being implemented by the Federal Government to consolidate all inflows from Ministries, Departments and Agencies (MDAs) into one single account maintained by the CBN, with the aim of ensuring accountability of government revenues, enhance transparency and avoid misappropriation and misapplication of public funds.
He also contended that the introduction of the TSA had helped to improve the process of collection of revenues and would engender prompt settlement of matured government commitments which might eventually facilitate project completion and service delivery on schedule;
When the motion was put to vote by the Speaker, Honourable Yakubu Dogara, it was unanimously supported.
The Minister of Finance, Mrs Kemi Adeosun, had reported that from the execution of the TSA, a balance of N2.9 trillion had been accumulated from the MDAs.