Lawmakers want TSA investigated

By Kokumo Goodie, Lagos, Nigeria

Nigeria’s lower house, the House of Representatives, is making moves to investigate how much has come into the Treasury Single Account (TSA).

The representatives also want President Muhammadu Buhari to come out with a blueprint on how to spend the money. 

A motion by Adamu Kamale (APC, Adamawa) to this effect recalled that in 2012, a pilot scheme for a single account using 217 Ministries, Departments and Agencies (MDA) was run by the government sometime in 2012, adding that the success of the scheme motivated the implementation of the scheme 15 September, last year.

"We are aware of the disclosure by the Minister of Finance, Kemi Adeosun on 3 March, this year that from the execution of the TSA a balance of N2.9 trillion has been accumulated from the MDAs. It is however worrisome that despite the laudable commitment of the current administration to combat corrupt practices, eliminate waste in public finance and ensure adequate fund flow that will be channeled to critical sectors of the economy to facilitate development, some establishments are still left out of the TSA platform.”

"It is equally of concern that while Section 80(1) of the constitution regarding maintenance of Federation Account provides a broad legal framework, it does not address the operational details  and concerns have been raised by the Revenue Mobilization, Allocation and Fiscal Commission (RMFAC) about the possible sharing of TSA funds among the tiers of government.

"While there is no clear operational details as regards the management of the funds accumulated in the TSA, the need for its urgent utilization to discharge government commitments for development and good governance may be delayed to assess the anticipated impact of the policy

"It is regrettable that the objectives of TSA to institutionalize transparency, accountability and fiscal discipline in public expenditure may be negated if the plan for its utilization is not made public for purposes of accountability and transparency," Hon Kamale said.

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