Tag: TSA
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FG creates special TSA account for COVID- 19 donations
The Federal Government has put created a framework for the collection, management and reporting of COVID-19 donations. According to the Minister of Finance, Budget and National Planning Zainab Ahmed, the federal government is developing a comprehensive framework for the transparent management of the contributions which at last count now stands at ₦19.4 billion. In the…
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APC says implementing change most difficult thing
The All Progressives Congress (APC) said Federal Government was doing the best possible to effect change in the polity, but admitted it had been the most difficult assignment to tackle. The party’s National Publicity Secretary, Malam Bolaji Abudullahi, stated this in a statement on Sunday in Abuja. He said that sometimes, change became necessary or…
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JAMB earmarks N7.744bn overhead, N2.683bn projects, reduces TSA remittance
The Joint Admission and Matriculation Board (JAMB) said it has earmarked the sum of N2.683 billion for capital projects, which it said has affected how much it will remit into the federation account. JAMB Registrar, Professor Ishaq Oloyede, stated this while appearing before the Senate committee on Monday. He disclosed that the examination body would…
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EXCLUSIVE: NNPC faces fresh probe over non-remittance to TSA
The Nigerian National Petroleum Corporation, NNPC alleged failure to remit a huge sum of money into the Treasury Savings Account may be a source of fresh troubles for those at the company’s helm of affairs. The money, according to sources, totals $629 million and is lodged in different sums in different accounts. An account in…
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Provide audit reports on TSA in six weeks, Reps tell CBN, Auditor General
The House of Representatives on Wednesday mandated the Central Bank of Nigeria (CBN) and the Office of the Auditor General of the Federation (OAGF) six weeks to provide it with detailed reconciliation and audit reports of the amounts generated so far in the Treasury Single Account (TSA). The House said it’s ultimatum was necessitated by…
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‘Hidden’ N249b TSA fund: FG to pay 6 banks N1.2m as court strikes out suit
A Lagos Federal High Court on Wednesday in Lagos struck out a suit filed by the Federal Government seeking to recover 793.2 million dollars allegedly kept by seven commercial banks in violation of the Treasury Single Account (TSA) policy. The defendants are: Diamond Bank, United Bank for Africa (UBA), First Bank, Skye Bank, Fidelity Bank,…
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Alleged hidden N249.6b: UBA refutes claim, says ‘We’ve fully remitted NNPC cash into TSA’
United Bank for Africa (UBA) Plc on Friday faulted its inclusion by the Federal High Court in Lagos, in the list of seven banks keeping a total of $793,200,000 in contravention of the Federal Government’s Treasury Single Account (TAS) policy. TheNewsGuru.com reports that a vacation judge, Justice Chuka Obiozor, made the interim order following an…
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Unbanked population controls 75% daily retail transaction in Nigeria – Expert
An expert at SystemSpecs has said the current un(der)banked population in Nigeria controls well over 75% of daily retail transaction in the country. Mr. Oluwaseun Adesanya, Manager, Corporate Strategy & Performance Management at SystemSpecs, revealed this while speaking with TheNewsGuru, saying the situation is alarming for financial inclusion in the country. “Nigeria prides itself as…
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Jonathan developed framework for whistle-blowing, TSA, BVN, others – Rep
…says National Assembly will pass whistle blowing bill soon A member of the House of Representatives, Abiodun Olasupo (representing APC- Iseyin/Iwajowa/Kajola/Itesiwaju Federal Constituency) has said former President Goodluck Jonathan’s administration developed the framework for the whistle-blowing, Treasury Single Account (TSA) and Biometric Verification Number (BVN). Olasupo also said the bill on whistle blowing is at…
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TSA implementation: FG rakes in additional N4 billion monthly – Accountant General
The Accountant General of the Federation, Mr. Ahmed Idris has said the implementation of the Single Treasury Account, TSA has helped the Federal Government blocked multiple accounts where over N4 billion which could have been to banks’ advantage now comes directly to its coffers. He also said with the TSA, it recorded over N7 trillion…