The Accountant General of the Federation (AGF), Idris Ahmed, on Monday, explained that seven years after it was created, the Treasury Single Account (TSA), has yielded more than N30 trillion for the Federal Government.
According to the Accountant General of the Federation (AGF), Idris Ahmed, from 2012 when full implementation of the TSA started, “I think you will be looking at something in the region of N30 trillion; that is in terms of transaction volume, not in terms of balances or anything. So, if we are looking at turnover, it should be over N30 trillion.”
The TSA, he said, “is a fluid account and so, it will be difficult to state specifically how much is in the account at any point in time”.
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Speaking earlier on controversy over bringing foreign missions into the TSA, Finance Minister, Mrs. Zainab Ahmed, said the government was considering another option of capturing all accruals by foreign missions to into a single account.
Mrs. Ahmed explained that bringing in revenue generated in different currencies by foreign missions has been one of the major challenges facing the full implementation of the TSA.
To address the challenge, the finance minister said: “The government is looking at a different option to interface with TSA for foreign missions.”
She told the visitors that with the introduction of TSA, balances in the account are regularly reconciled.
