TSA will soon cover foreign accounts ― FG
Federal Government on Tuesday has disclosed that it was working towards implementing the Treasury Single Account (TSA) to cover foreign accounts.
The Minister for Finance, Hajia Zainab Amed, made this disclosure on Tuesday at a budget defence session with key revenue generating ministries, departments and agencies (MDAs) organised by the House of Representatives joint committee on finance, appropriation, aids, loans and debt management under the Chairmanship of Hon. Babangida Ibrahim.
According to her, “we are working now to implement the TSA to cover foreign accounts operated by government agencies in order to broaden the net and minimise leakages.”
The Minister in the company of top officials of the Ministry explained that the federal government had evolved a new revenue strategic growth agenda developed by her ministry to ensure a sustainable revenue flow system.
According to the Minister, “we have identified new revenue streams and we’re working to tap into them, especially the identification of new taxes for which we are working with the FIRS to bring that to fruition, of course with an amendment to relevant tax laws.”
She assured that her Ministry was doing everything possible to ensure that all revenues due for the Federal government were adequately captured and remitted accordingly.