pretydiva:
Wats d importance of dis thread?

Abugab:
And what happened with this directive till he handed over govt?
You TANoids just hate progress.
Some of you are arguing that same order was given by NOI in 2013, how come the MDAs never obeyed the orders?
Op, governance is a continuous process we know but the past administration only gave orders that were flaunted and disregarded.
Watch out how they will all conform with the current order soon and that will tell you the difference between the two govts and show you what is new about it all.

temitemi1:
Another propaganda exposed

Redoil:
always stealing ideas from gej handover note as usuall.

Nigeria should prepare to hear Buhari claiming glory for all the arms purchase by gej to fight BH and for their footsoldiers minions to continue to sing praises about that.

SenseiX:
Can the fawning Sai Buhari adulators now realise their Messiah hasn't done anything groundbreaking, enough with the unnecessary propaganda already.

SenseiX:
Pres Jonathan had already ordered all MDAS to close down all accounts and make all transactions with the Single TSA with the Federal govt far back in January so I don't get what's the big deal about it. Buhari probably got it from GEJ'S Handover notes.
The decision of GEJ then was well reported in the news then, it even made Nairaland's front page. Here's a punch report on it from January
The Federal Government on Tuesday directed all its Ministries, Departments and Agencies to close their revenue accounts with Deposit Money Banks latest by February 28.

The government gave the directive while unveiling an electronic revenue collection platform aimed at checking theft, diversion of collected revenue and all sorts of corrupt practices associated with revenue collection.

The balances in the revenue accounts, it said, should be transferred to the Consolidated Revenue Fund of the Federal Government.

It warned that any MDA that failed to comply with the directive by the end of February would be appropriately sanctioned.

The Accountant-General of the Federation, Mr. Jonah Otunla, disclosed these in Abuja at a workshop to sensitise the MDAs to the commencement of the electronic revenue collection project.

The implementation of the project, he stated, began on January 1 this year and that it was meant to enthrone a new regime of centralised, transparent and accountable internally generated revenue management system.

The House of Representatives had in an investigative report on unremitted revenue last year said that 60 revenue generating agencies of the Federal Government failed to remit over N9.4tn to the coffers of the government between 2009 and 2012.

The Chairman, House Committee on Finance, Abulmumin Jibrin, had said of the N3.06tn the agencies generated in 2009, only N46.8bn, or 1.53 per cent was remitted to the government.

In 2010, the sum of N3.07tn was generated, but N54.1bn or 1.76 per cent was remitted; and in 2011, the generated figure stood at N3.17tn, out of which only N73.8bn or 2.33 per cent was remitted.

Otunla said going forward, the new platform would improve the availability of funds for financing of developmental projects and budgets as well as plugging loopholes in government revenue collection and management.

He said the commencement of the e-collection platform was a product of series of treasury reforms that began in 2012 and aimed at ensuring transparency and accountability in the management of the nation’s resources.

The reforms, he stated, led to the introduction of the Government Integrated Financial Management Information System and the Treasury Single Account.

Otunla said, “We have rolled out the GIFMIS and TSA implementation. At inception, a total of 93 agencies were enrolled and as of today, we have about 551, which is about three quarter of the total budget of the federation.

“We have yet to realise the full potential of the reforms. Some big budget MDAs to wit the National Assembly, National Judicial Council, the armed forces and some other autonomous agencies have been reluctant to be brought into the GIFMIS and TSA process.

“The implication of this is that substantial cash resources of the government are still lying idle at a time when our cash flow is facing a lot of challenges. In the face of the cash flow problem, we need to be more creative. We can enhance the performance of the budget by either improving revenue or reducing costs.”

The accountant-general added, “Our efforts this morning on the e-collection of revenue is a revenue enhancing programme by freeing more funds for budget performance. We are perfecting a system of collection. We are not perfecting a system depriving the commercial banks of income.

“So, we just want to make revenue collection a little more efficient; but in the process, it might influence the inflow to the commercial banks and that’s why the Central Bank of Nigeria is playing a pivotal role.”

Shedding more light on the new revenue collection platform, the Director, Funds, Office of the Accountant-General of the Federation, Mr. Mohammed Dikwa, said, henceforth, government revenues would now be paid into the CRF/TSA at the central bank through any branch of the DMBs.

He said, “A treasury circular on e-collection will be issued next week. With the coming of e- collection, MDAs can no longer maintain revenue bank accounts with commercial banks. You are, therefore, advised to transfer any outstanding balance in your RBA to the CRF and immediately commence the processes of closing them.

“The MDAs are given up to February 28, 2015 to close the RBAs. Appropriate sanctions shall be applied against any MDA that fails to comply.”

To ensure the successful implementation of the project, Dikwa explained that a multi-stakeholder committee comprising the OAGF, CBN and representatives of all the commercial banks was set up to agree on the implementation plans and timelines.
http://www.punchng.com/business/business-economy/close-revenue-accounts-with-banks-fg-orders-mdas/
Here is the Nairaland front page thread on it back in January
https://www.nairaland.com/2082943/close-revenue-accounts-banks-fg


So Buhari only just re-issued an order already issued by GEJ
Cc lalasticlala

Abugab:
And what happened with this directive till he handed over govt?
You TANoids just hate progress.
Some of you are arguing that same order was given by NOI in 2013, how come the MDAs never obeyed the orders?
Op, governance is a continuous process we know but the past administration only gave orders that were flaunted and disregarded.
Watch out how they will all conform with the current order soon and that will tell you the difference between the two govts and show you what is new about it all.

JuanDeDios:
Yes, but most MDAs did not comply. It was necessary for Buhari to give the order again.

erico2k2:

and whats your proof that they have obeyed now?

Ventura1:
The surprise thirty-two per cent jump in Federal Account Allocation Committee (FAAC) disbursements to the three tiers of government in June was a result of a more transparent reporting of the federation’s gross revenues BusinessDay can report.

The unexplained rise at a time of a continued fall in international crude oil prices left many analysts wondering but investigation by BusinessDay has showed that the transparent reporting method imposed by the two-month old Buhari administration meant that revenues that were hitherto unaccounted for, had to be brought into the collective pool for sharing.

The total disbursable fund for June amounted to N539bn or $2.71bn, up by 32 per cent from the level for May.

The statutory allocation, the largest element of the payment, brought an increase of N162b or the equivalent of $810m on May revenues.

A state like Edo, for instance saw its June allocation rise significantly, by more than N500m and governor Adams Oshiomhole who confirmed the development was unequivocal that the additional funds would not have come in if government agencies were left to account for their revenues in their old ways.

“I can tell you that my state got much more than it would normally get and this additional funds came because they (federal agencies) could no longer hide or cook their books”, the governor told BusinessDay in Ndola, Zambia, on the sideline of the commissioning of the 1.5MT cement plant build by Dangote Cement.

The governor, who is one of those selected by the National Economic council to beam a searchlight on the irregularities in flows into FAAC, added, “we are already seeing the benefit of the attitude of the Buhari administration to our collective resources and this is welcome, especially because we have just started and their scope for getting better.  We all can now see that the days of impunity are gone.”

Governor Oshiomhole’s explanation has helped to shed light on the jump in the federal allocation disbursement.

In its August 5 daily note, FBN Capital had said, “we struggle to explain the marked increase in the allocation which is predominantly derived from the oil industry.”

On Friday, FBN Capital welcomed the recovery in foreign reserves, which rose $2.5bn in July to $31.5bn on a 30-day moving average basis.

FBN Capital said the increase in reserve couldn’t be explained by just the savings from the ban on 41 items, which hitherto accounted for about $900m in FX utilisation per month, on the basis of figures for Q1.

Analysts at FBN Capital said, “we have to look elsewhere for additional explanations for the pick up in reserves in July.”


http://businessdayonline.com/2015/08/cash-going-to-states-from-faac-rising-on-fear-of-buhari

BMZK:
I may not know the difference between the two policies but if they are the same, it shows how weak the previous administration was for a president to issue an order and such instruction was not carried out accordingly despite a clear dead line.
All the same it is a welcome development.
God bless Nigeria!
God bless those who are striving to see Nigeria is back on track.
To the enemies of progress, May God grant them wisdom to repent and join the common goal fight for a better Nigeria.

anonimi:


Where did you get confirmation that MOST (i.e. at least 60%) did not comply
Hope you can share the report here.
Thanks.

temitemi1:
Another propaganda exposed

JuanDeDios:

Yes, but most MDAs did not comply. It was necessary for Buhari to give the order again.

datacryd:
GEJ My hero

JuanDeDios:
I read our papers daily. Yes, most (at least, 50%+1) did not comply.

Redoil:
always stealing ideas from gej handover note as usuall.
Nigeria should prepare to hear Buhari claiming glory for all the arms purchase by gej to fight BH and for their footsoldiers minions to continue to sing praises about that.

naijainfogalery:
One guy said i will stop corruption but ended up encouraging it and anothrer one said i will stop it and is doing something about it,

Note: The two both said the but one acted