Tribune Online
  • Home
  • News
  • Business
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions
No Result
View All Result
  • Home
  • News
  • Business
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions
No Result
View All Result
Tribune Online
No Result
View All Result

TSA: Reps probe 812 MDAs secret accounts with commercial banks

by Tribune Online
November 27, 2019
in Latest News
Reading Time: 3 mins read
A A
Nigeria has potential, Reps probe security agencies, Reps summons AGF, Reps C'ttee urges FCCPC, Reps tackle, Reps quiz FRSC, Minority Reps call, Audit Reps committee NIPC,registration of returnee Ukrainian students, Reps probe over unpaid pension, Reps to recommit Statutory DelegatesReps threaten to sanction, , Reps ask INEC to extendReps summon contactor, Reps summon BPE, Reps pass for second, LGA’s powers on primary healthcare, deployment of military to safeguard lives, construction of Lokoja-Benin federal road, retirement age of Legislative Staff, Suleiman task Parliamentary Correspondents, Reps approve N16.39trn expenditure, Nigerian Athletes failed doping test, Reps ask Buhari to name, Reps back Senate, River from World Bank loan, Reps condemn barbaric killings, receive 2022 budget proposal, Reps seek legal backing, Senate directs NBET to remit, Reps in rowdy session, PIB will be transmitted

The House of Representatives, on Thursday, commenced an investigation into various secret accounts of 812 ministries, departments and agencies (MDA) domiciled with deposit money banks operating in the country.

Chairman, House Committee on Public Accounts, Hon Wole Oke who disclosed this during the investigative hearing into the N50 Stamp Duty on behalf of Nigerian Postal Commission (NIPOST) and 1% Stp Duty on contracts collected on behalf of Federal Inland Revenue Service (FIRS).

Worried by the level of impunity being perpetrated by the management of all the MDAs in deviant to the Presidential directive on the implementation of Treasury Single Account (TSA), Hon Oke directed all the commercial banks to provide details of all the MDAs whose revenue and expenditure accounts are still domiciled with them.

According to Hon Oke, the Accountant General of the Federation (AGF) during an interactive session with the Committee disclosed that only Nigerian National Petroleum Corporation (NNPC) and Joint Admissions Matriculation Board (JAMB) are exempted from the TSA policy.

In response to the Committee’s inquiry, representatives of some of the commercial banks confirmed that some MDAs including Nigerian Ports Authority (NPA), Nigeria Customs Service (NCS) are still domiciled with them.

On its part, Zenith Bank confirmed that the TSA accounts of Nigerian Army, Nigerian Police, NACCIMA and Nigerian Shippers Council (NSC) are still being managed by the bank.

Related News

JAMB warns against fraudsters, says Oloyede doesn’t operate social media accounts

Dibu Ojerinde rearrested after court adjournment as ICPC unveils new evidence

FG approves salary increment for Nigerian port workers

The Committee is also beaming its searchlight on other major revenue-generating agencies such as: Assets Management Corporation of Nigeria (AMCON), Nigerian Deposit Insurance Corporation (NDIC), Nigeria Incentive-Based Risk-Sharing System (NIRSAL), Nigerian Financial Intelligence Unit (NFIU), Nigerian Export-Import Bank (NEXIM), Nigerian Collateral Register, among others.

ALSO READ: Reps grill officials of Niger Delta Ministry over N62m alleged Dubai trip, mobile phones scam

While responding to questions on various amounts generated by the banks, Mr. Abdulfatai Amoo, Jaiz Bank’s Executive DirectorOperations/CFO confirmed collection of N137.893 million stamp duty between January 2016 to February 2017 while the balance of N123,420 was collected under NIPPS up to November 2019, adding that the bank did not collect revenue on the 1% stamp duty on contract on behalf FIRS.

In the same vein, Zenith Bank confirmed the receipt of total sum of N7.412 billion between 2016 and 2019 on behalf of NIPOST.

On his part, Mr Taiwo who spoke on behalf of Union Bank Plc confirmed receipt of N452.529 million as stamp duty on behalf of NIPOST from January 2016 to November 15, 2019.

Also speaking, Unity Bank representative who noted that the bank commenced operations in 2006 sequel to the merger of 9 banks namely: Pacific Bank, New Nigerian Bank (NNB), Bank of the North, First Interstate Bank, Intercity Bank, Société Générale bank and Tropical Bank, disclosed that total sum of N16 million stamp duty was collected so far.


In his intervention, Hon Oke directed that the representative of Unity Bank should get details of Stamp duty collected by all.the 9 banks before the merger and report back within 7 days for further legislative action.

Similarly, Mr Taiwo Adeneye, Executive Director Banking Operations for Union Bank confirmed receipt of total sum of N452.529 million between January 2016 and 15th November 2019.

On his part, Mr Kolade Ayoola who spoke on behalf of Wema Bank confirmed receipt of N783.849 million stamp duty.

Speaking on the deadline, Hon Oke issued 7day ultimatum to all the banks to submit the list of accounts of MDAs domiciled with them in deviant to the TSA policy dated back to 2015.

During the Tuesday investigative hearing, representatives of Zenith Bank confirmed the receipt of N1.610 billion stamp duty on behalf of NIPOST while Ecobank confirmed the receipt of a total sum of N12.69 billion of all electronic transactions, out of which the sum of N4.648 billion is for Stamp Duty on behalf of NIPOST.



Tags: Accountant General of the FederationAGFHouse-of-RepresentativesJAMBJoint Admissions Matriculation BoardNCSNigeria Customs ServiceNigerian National Petroleum Corporation (NNPC)Nigerian Ports AuthorityNigerian Postal CommissionNIPOSTNPATreasury Single Accounttsa
ShareTweetSendShareShare

Related News

INEC woman PVCs Enugu,
Latest News

INEC staffer, woman arraigned for allegedly selling PVCs in Enugu

February 9, 2023
freeflow of traffic in lagos
Latest News

Lagos govt expresses commitment to free flow of traffic, safety on roads

February 8, 2023
Wike APC rally Rivers,
Latest News

Wike approves free venue for APC presidential rally in Rivers

February 8, 2023

Most Read

  • UPDATED: Supreme Court temporarily halts banning of old naira notes
    UPDATED: Supreme Court temporarily halts banning of old naira notes
  • Sterling Bank suspends transaction fees for all customers
    Sterling Bank suspends transaction fees for all customers
  • Enemies of the people: Nigerians react over Supreme Court's verdict on Naira Feb 10 deadline
    Enemies of the people: Nigerians react over Supreme Court's verdict on Naira Feb 10 deadline
  • Naira swap: Tinubu salutes APC Governors over Supreme Court ruling 
    Naira swap: Tinubu salutes APC Governors over Supreme Court ruling 
  • Cash swap: Buhari cancels meeting with governors over court order
    Cash swap: Buhari cancels meeting with governors over court order
  • CBN staff's timely intervention stopped the burning of Eco Bank in Delta
    CBN staff's timely intervention stopped the burning of Eco Bank in Delta
  • Buhari, CBN Governor in closed-door meeting hours after S/Court ruling
    Buhari, CBN Governor in closed-door meeting hours after S/Court ruling
  • 2023: Despite youth's support, Obi will not win election — Ned Nwoko
    2023: Despite youth's support, Obi will not win election — Ned Nwoko
  • Wike approves free venue for APC presidential rally in Rivers
    Wike approves free venue for APC presidential rally in Rivers
  • MC Oluomo: Remove Lagos REC now, Atiku tells INEC
    MC Oluomo: Remove Lagos REC now, Atiku tells INEC

Subscribe to e-Paper

E-Vending, e paper, pdf, e-paper, Tribune

Frontpage Today

EDITORIAL

Editorial
Opinion
Letters

BUSINESS

Capital Market
Money Market
Economy

ENTERTAINMENT

Friday Treat
Entertainment
Razzmattaz

REGIONS

South West
Niger Delta
Arewa

RELIGION

Tribune Church
Church News
Muslim Sermon
Eye of Islam
Islamic News
COLUMNS

Anike's Diary
Aplomb
Ask The Doctor
Autoclinic With The Mechanic
Awo's Thought
Borderless
Crucial Moment
Empowered For Life
Festus Adebayo's Flickers
Financewise
Gibbers
Intimacy
Language & Style
Leaders' Forum
Leadership & Management
Lynx Eye
Monday Lines
Mum & Child
Natural Health
Notes from Atlanta with Farooq Kperogi
On The Lord's Day
PENtagon
Political Panorama
Veritatem With Obadiah Mailafia
Voice of Courage
Whatsapp Conversation
You and Eye
Your Life Counts

WOMEN

Xquisite
Xquisite Food
Xquisite Style
Wondrous World of Women

MORE

Business Coach
Education
Event Digest
Crime & Court
Do It Yourself
Ecoscope
Property & Environment
Energy
Maritime
Aviation
Brands & Marketing
Agriculture
Info Tech
Labour
Leadership & Management
Achievers
Arewa Live
Arts & Culture
Arts & Reviews
Campus Beat
Politics
Health News
  • About Us
  • Contact us
  • Disclaimer
  • Privacy
  • Tribune Advertisement Rates

© 2023 Tribune Online, an online publication of African Newspapers of Nigeria Plc. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions

© 2023 Tribune Online, an online publication of African Newspapers of Nigeria Plc. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist