Over 20,000 Bank Accounts Have Being Closed by the FG

The Accountant General of the Federation, Mr. Ali Ahmed Idris has on Tuesday in Abuja announced that the commencement of the Treasury Single Account (TSA) in September 2015 made over 20,000 accounts to be closed.

It belonged to Ministries, Departments and Agencies which had the total sum of N5.24 trillion. The funds have now being moved into the Treasury Single Account (TSA).

Mr. Ali Idris stated this while speaking at the opening session of a two day retreat on TSA. Present at the meeting were the Vice president of Nigeria, Yemi Osinbajo, the Minister of Finance, Mrs. Kemi Adeosun, the Secretary to the Government of the Federation, Mr. Babachir Lawal among others.

 The theme of the event was  “One year anniversary of Treasury Single Account: Benefits, challenges and way forward.”

The Treasury Single Account (TSA) is a platform which was used by the government to unify all its accounts by ensuring that all monies belonging to the federal government are kept with the Central Bank of Nigeria (CBN).