TSA: FG mops N50bn from banks
The federal government said it has saved over N50billion revenue from funds mopped up form commercial banks since the full implementation of the Treasury Single Account in 2015.
The Director of ICT in the Office of Accountant -General of the Federation, Mr. Afolabi Ajayi, said with the TSA, the government has also been able to save over N45billion monthly interest on its borrowings from banks.
Ajayi stated this while presenting the scorecard of the OAGF at the 2019 OAGF peer review visit by the Head of the Civil Service of the Federation, Mrs. Winifred Ekanem Oyo-Ita.
The TSA initiative, which is one of the public financial management reforms, had led to the closure of over 20,000 bank accounts.
The director revealed that an aggregate cash collection of over N10trillion has so far been collected from 1,674 Ministries, Departments and Agencies since the implementation of the TSA which began in 2012.
He said the policy which runs 24hrs has enabled government to have a better control of its resources, improve its liquidity position, improve revenue collection and eliminated cash handling among others.
Speaking on other areas the OAGF has recorded successes for the Federal Government, he said the implementation of the Integrated Personnel & Payroll Information System, IPPIS, has saved government N206.16billion. The savings were basically from ghost workers and overhead costs.
Ajayi stated that from the period when the IPPIS was introduced till date, 506 MDAs with total staff strength of 344,625 were on the platform.
“Since IPPIS commenced, many departments and agencies, having realised that personnel cost was no longer coming to them for direct disbursement, had embarked on recruitment to utilise their approved manpower /personnel budget so much so that between September 2011 and now, many Nigerians had been employed in the IPPIS MDAs , thereby reducing unemployment in the country.”
Out of the savings MDAs accounted for N135.13billion or 66%, the Nigerian Police Force, N47.26billion or 23 percent and the paramilitary N23.67billion or 11 percent.
In her comment, the Head of the Civil Service of the Federation, Mrs. Oyo-Ita, said the successes in blocking revenues leakages in the ministries will soon be replicated to the entire public service.
“You can imagine what we will be saving if all public service agencies are verified,” she said adding that extension will happen soon.
Earlier, the Accountant -General of the Federation, Ahmed Idris, said his office had fully digitalised its function, particularly those driving public finance reforms initiatives.
He said the purpose of the review was to share ideas among MDAs with a view to improving service delivery.
This, he stated, would help to actualise government policies and programmes for the development of the nation.
He said the thematic areas outlined to drive the review were dynamic, robust and directly linked to the Federal civil service strategy and implementation plan for 2017 to 2020.