Buhari’s Spokesperson Claims TSA Saved Nigeria N4 Billion Monthly in Bank Charges

Garba Shehu, the spokesperson to former President Muhammadu Buhari, has said that his principal implemented the Treasury Single Account (TSA) policy to save Nigeria an average of N4 billion that would have been spent on monthly bank charges.

He made this statement on Thursday on his official X, formerly Twitter, account to mark 100 days since Buhari left office.

Shehu said that the TSA policy, which was launched in 2012 but left unimplemented, helped the Buhari administration block financial leakages and ensure accountability in governance.

He said that the policy required all Ministries, Departments and Agencies (MDAs) to close their accounts with deposit money banks and transfer their funds to a single account with the Central Bank of Nigeria (CBN).

He said that over 17,000 bank accounts belonging to government agencies and parastatals were closed as a result of the TSA policy.

He also said that the government introduced the Integrated Personnel and Payroll System (IPPS) to cover all MDAs and eliminate ghost workers.

“On coming to office, the administration directed all MDAs to close their accounts with deposit money banks to fully operationalize the Treasury Single Account.

“TSA was launched in 2012 but left on the drawing boards. Over 17,000 bank accounts were closed, and an average of four billion Naira in monthly bank charges was saved,” he wrote.

Newsflash Nigeria recalls that Buhari’s administration started the implementation of TSA in 2015 as part of its anti-corruption agenda. The policy was aimed at improving transparency, efficiency and accountability in public finance management.

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