The Treasury Single
Account is being operated by the Federal Government.
President Muhammadu
Buhari has approved the opening of five COVID-19 donor accounts, which form
part of existing TSA arrangement in five commercial banks.
The Treasury Single
Account is being operated by the Federal Government.
Henshaw Ogubike,
Director Information and Press, Office of the Accountant-General of the
Federation, made this known in a statement in Abuja on Tuesday.
Ogubike disclosed
that the approved banks were Zenith Bank, Access Bank, Guarantee Trust Bank,
UBA and First Bank.
He explained that
the framework covered all public funds allocated and dedicated to the fight
against COVID-19, including the Fiscal Stimulus Package as well as all
donations by corporate bodies and individuals to the Federal Government towards
the fight against Coronavirus and the mitigation of its social and economic
effects on citizens.
He said this
directive also included donations under the Private Sector Coalition Against
COVID-19 (CACOVID) Fund domiciled at the Central Bank of Nigeria (CBN).
The News Agency of
Nigeria reports that the Nigeria Private Sector Coalition Against COVID-19
(CACOVID), as of April 23, realised about N27,160bn.
The statement partly
reads, “In accordance with citizens' expectations, the government is committed
to managing these funds with the highest sense of transparency and integrity.
“This framework is
therefore designed to articulate the measures put in place by the government
for the transparent and accountable management of COVID-19 donor funds as an
expression of its commitment towards bridging the trust gap.
“The TSA Sub Account
in commercial banks are to be used to receive COVID-19 donations only. On no
account shall any other fund of Federal Government Ministries, Departments and
Agencies be deposited into the accounts or any other account in commercial
banks.
"All other
government accounts are to be maintained at the CBN in line with the
Presidential directive on TSA, the TSA guidelines and related extant
circulars.”
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