The Federal Government has directed Ministries, Departments, and Agencies operating in states to stop running accounts with commercial banks in line with the Treasury Single Account policy.
This was according to a press statement released on Thursday by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa.
The statement noted that the Accountant-General of the Federation, Dr Oluwatoyin Madein, gave the directive during a working visit to the Federal Pay Office in Benin, Edo State.
Madein charged Federal Pay Officers with ensuring strict adherence to the policy, warning that no MDA should operate accounts with commercial banks unless expressly approved by the President and communicated by the Office of the Accountant-General of the Federation.
The statement read, “While reiterating the Federal Government’s commitment to the Treasury Single Account policy, the Accountant General of the Federation urged the Federal Pay Officers to monitor and ensure that Ministries, Departments and Agencies in the States do not operate any account with the commercial banks or circumvent any provision of the TSA policy.
“She explained that due approval must be given by the President and communicated by the Accountant General of the Federation, based on certain rules and guidelines, before Ministries, Departments and Agencies can operate any account with commercial banks.”
She also tasked FPOs with upholding transparency, professionalism, and accountability in their duties, urging them to avoid actions that could damage the reputation of the Federal Treasury.
Madein emphasised the importance of maintaining accurate financial records in line with regulatory standards, noting that officials from the Treasury headquarters would continue to conduct periodic checks.
