The House of Representatives Public Accounts Committee has announced its intention to impose sanctions on Ministries, Departments, and Agencies (MDAs) of the government for violating the Treasury Single Account (TSA). Chairman Bamidele Salam revealed this during the committee’s resumed hearing in Abuja on Wednesday.
The committee has summoned key figures, including the Governor of the Central Bank of Nigeria (CBN) Yemi Cardoso, Minister of Finance Wale Edun, and representatives from the Office of the Accountant-General of the Federation, to appear before it on February 20. The investigation focuses on alleged leakages and non-remittance of TSA revenue generated through Remita.
Salam emphasized that the investigation’s objective is transparency and accountability, not targeting any specific company. The Managing Director of Remita Payment Service Ltd (RPSL), Deremi Atanda, clarified that Remita acts as a software and payment gateway, not managing government revenue. He also refuted the claim of a one percent fee for processing TSA, stating that the applicable fee is N150 with VAT, according to CBN circulars.
Despite the clarification, the committee expressed concern about the lack of documents, especially from CBN, and stressed the need for the physical appearance of key officials before the committee on February 20.
The Treasury Single Account was approved by former President Muhammadu Buhari in 2015 to facilitate the e-collection of government receipts and enhance transparency. The circular mandated that all receipts due to the Federal Government or its agencies should be paid into the TSA. However, exemptions for some ministries and government agencies have been a point of contention.
The ongoing investigation and potential sanctions underscore the government’s commitment to enforcing financial accountability measures and addressing concerns related to the TSA system.
