Feb. 15, 2024

The House of Representatives Public Accounts Committee (PAC) has resolved to sanction Ministries, Departments, and Agencies (MDAs) of government over violation of Treasury Single Account (TSA).

Rep. Bamidele Salam, Chairman of the Committee, said this at the resumed hearing of the committee in Abuja.

The Committee also summoned Governor of Central Bank of Nigeria (CBN), Mr. Yemi Cardoso, Minister of Finance, Wale Edun and representatives from Office of the Accountant- General of the Federation, to appear before it on Feb. 20.

The committee is investigating alleged leakages and non-remittance of TSA revenue generated through Remita.

Salam said that the investigation aimed for transparency and accountability and not targeting any specific company.

Mr. Deremi Atanda, Managing Director of Remita Payment Service Ltd (RPSL), clarified that Remita did not manage government revenue but acts as a software and payment gateway.

Atanda debunked the one per cent fee charged for processing TSA, adding that the applicable fee for processing TSA payments was N150 with VAT.

He said this was according to CBN circulars of November 2018 and December 2020.

He said that Remita offered free value-added services to the Federal Government despite foreign hosting costs.

The committee however expressed concern about the lack of documents, particularly from CBN, contrasting with Remita’s provision of a signed contract.

Salam said there was need for physical appearance of Minister of Finance, CBN Governor, and Accountant General of the Federation before the committee on Feb. 20, 2024.

In August 2015, former President, Muhammadu Buhari approved the establishment and operation of Treasury Single Account for e-Collection of Government Receipts for all Federal MDAs with immediate effect.

This approval was contained in a circular number HCSF/428/S.1/120 entitled: Re-Introduction of Treasury Single Account, TSA, dated‎ 7th of Aug, 2015 and signed by Danladi I. Kifasi, Head of the Civil Service of The Federation.

According to the circular, the TSA is ‎to aid transparency and facilitate compliance with sections 80 and 162 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), all receipts due to the Federal Government or any of her agencies shall be paid into the TSA as follows:

Account Name: Accountant General (Federal Sub-Treasury), Account No. 3000002095 maintained in the Central Bank of Nigeria (CBN), except otherwise expressly approved. (NAN)