Politics

You can’t touch TSA funds without NASS approval, Reps tell FG

Published

8 years ago

June 23, 2016

RipplesNigeria …without borders, without fear

The House of Representatives, Wednesday, reminded the Federal Government that it cannot utilise monies that has accrued in the Treasury Single Account, TSA, without the approval of the National Assembly.

According to the lawmakers, the TSA, being a single government account, was the equivalence of the Consolidated Revenue Fund of the Federation.

The lawmakers also asked the Federal Government to provide details of the funds so far remitted into the Treasury Single Account and details on the government’s plans to spend the accrued funds, which lawmakers insisted must first be approved by the National Assembly.

These formed part of the resolution reached after a member from Adamawa State, Mr. Adamu Kamale, moved a motion on “Need to Ascertain the Proceeds of the Treasury Single Account to Enhance Transparency, Accountability and Good Governance.“

Though the lawmakers described TSA as a good policy, they however, insisted that the government must give details of the total accruals in the account to Nigerians.

According to Kamale, since March 4 when the Minister of Finance, Mrs. Kemi Adeosun, was quoted as saying that N2.9trillion had accumulated in the account, not much had been heard.

The resolution read in part: “The House regrets that the objectives of the TSA to institutionalise transparency, accountability and fiscal discipline in public expenditure may be negated if the plan for its utilisation is not made public for purposes of accountability and transparency…

“Resolves to set up an ad-hoc committee to liaise with the Central Bank of Nigeria and any other agency of government that has official role in the implementation of the TSA, to ascertain the actual amount realised so far, the government’s plans on its spending and the various government agencies from which such funds were obtained, including a comprehensive list of abandoned projects from which such funds accrued.”

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