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Nairaland Forum / Nairaland / General / Politics / TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF (18700 Views)
Infograph: FAAC Allocation Distribution To 36 States From January - March 2017 / FAAC Disburses N386bn To FG, States, Lgs In November 2016 / TSA Boosts Revenue Collections, As FAAC Shares N511bn – AGF (2) (3) (4)
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TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by NgeneUkwenu(f): 9:00am On Aug 31, 2015 |
The Office of the Accountant General of the Federation has said that the introduction of Treasury Single Account (TSA) will boost revenue collections against leakages and ensure timely disbursement of funds to beneficiaries of the Federation Accounts among others. The Accountant General of the Federation, Alhaji Ahmed Idris made the disclosure during separate courtesy visits to his office by managements of United Bank for Africa (UBA), Access Bank and Zenith Banks. He said the TSA was part of the reforms of the government to institutionalize a more effective and transparent management of public finances in the country. Ahmed Idris added that the compliance to the Presidential directive on the implementation of TSA is to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution as it paves way for the timely capture and payment of all due revenues into government coffers. The TSA is a unified structure of government bank accounts enabling consolidation and optimal utilization of government cash resources. It is a bank account which the government transacts all its receipts and payments and gets a consolidated view of its cash position at any given time. The system also eradicates loss and leakages of legitimate revenue meant for the Consolidated and federation accounts. Meanwhile, the Accountant General of the Federation has disclosed that there had been noticeable improvement in Non-Oil revenue against Mineral Revenue in July 2015 which were shared last week at the meeting of the Federation Account Allocation Committee (FAAC). In a Communique he issued at the FAAC in Abuja, Ahmed Idris presented a total sum of N511 billion for distributions to the beneficiaries of the Account. The allocation comprised the month’s Net Statutory revenue of N411.866 billion, Value Added Tax of N71. 947 billion and an Exchange gain of N6.409 billion. In the net statutory allocation, Federal Government received N202 billion (52.68%); State governments received N102billion (26.72%); Local Government Councils received N79 billion (20.60%); while the Oil Producing States received N28.209 billion as 13% derivation revenue. On the Net Revenue from the Value Added Tax (VAT) of N71.947 billion, the Federal Government received N10.792 billion (15%); States received N35.974 billion (50%) while the Local government Councils received N25.181 billion (35%). Other allocation made at the meeting included the Refund of N6.33bn by the Nigeria National Petroleum Corporation (NNPC), Exchange Gain of N6.409bn among others. Ahmed Idris attributed recent shortfall in the oil revenue to shut-down and shut-in of production for maintenance and emergency repairs as well as declaration of Force Majeure by SPDC. http://dailypost.ng/2015/08/30/tsa-boosts-revenue-collections-as-faac-shares-n511bn-agf/?wt=2 lalasticlala!!! 2 Likes 4 Shares
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Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by NgeneUkwenu(f): 9:00am On Aug 31, 2015 |
Let's not forget, PDP Under Jonathan Shared N211B only in May before they handed over power... Now, President Buhari with just under two months in power increased the same by over 100% with the price of Crude in a free fall (41 dollars). No wonder, his only opposition comes from one section of the country, who feels the only way it can break away from the country, is to continually wishing evil on its component unit, without minding that their present progress, depends on the progress of the Country! President Buhari, Continue re engineering the country, as 75% of Nigerians are solidly behind you! 90 Likes 9 Shares
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Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by CUM4WHAT(m): 9:03am On Aug 31, 2015 |
NONSENSE.... U made a post nd u sat on ftc Well with d anime above me, i can proudly say naija wud work again since buhari has fixed d body and bought tires...... Engine na small tin 2 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by jaybee3(m): 9:06am On Aug 31, 2015 |
Thought some naysayers said govt was definitely going to owe because some council meeting didn't hold or whatever last month The TSA directive obviously makes sense and it's implementation is now yielding true dividends 22 Likes 1 Share |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by NgeneUkwenu(f): 9:18am On Aug 31, 2015 |
jaybee3: They are ashamed to admit the giant strides attained so far, just under 3 months of a Clean Government! 23 Likes 2 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by Mynd44: 9:20am On Aug 31, 2015 |
This is interesting. 7 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by Mynd44: 9:21am On Aug 31, 2015 |
NgeneUkwenu:How can you argue with people who wanted us to give President Jonathan 4 more years? 33 Likes 3 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by 4Play(m): 9:22am On Aug 31, 2015 |
NgeneUkwenu: Bros, take it easy with the dishonesty. You have become a caricature of APC and I sometimes wonder whether you are some sort of PDP fifth columnist. 17 Likes 1 Share |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by IsraeliAIRFORCE: 9:25am On Aug 31, 2015 |
4Play: The Minister of State for Finance, Mr Bashir Yuguda, said N388 billion was shared among the federal, states and local governments as revenue for April 2015. Yuguda announced this in Abuja when he addressed newsmen on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting. 17 Likes 2 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by NgeneUkwenu(f): 9:29am On Aug 31, 2015 |
4Play: Being honest to you, is not to admit the current progress under Buhari? Being honest to you, is to shout Biafra while hoping that Nigerian project fails? You are a sadist! Move away! 47 Likes 3 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by NgeneUkwenu(f): 9:32am On Aug 31, 2015 |
lalasticlala, this is a good news to our ears! 2 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by IsraeliAIRFORCE: 9:36am On Aug 31, 2015 |
“Also, there is the exchange gain of N24.7 billion which is proposed for distribution, therefore, the total revenue distributable for the month of April, including VAT of N75.1 billion, Buhari and APC will kill you with propaganda if you are not inquisitive. Let's analyze Ngeneukwenu's thread from the topic perspective in relation to TSA. April, 2015 VAT = N75.1bn Exchange Rate Gains = N24.7 billion August, 2015 VAT = N71.947bn Exchange Rate Gains = N6.409bn Jonathan was by far better 21 Likes 2 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by 4Play(m): 9:37am On Aug 31, 2015 |
I wonder whether these are the official figures as not long ago, a Nairalander proclaimed that N630.98bn was shared for July 2015. See below: So how do we explain this? In June, Nigeria’s three tiers of government met and shared the sum of N409.3bn after the Federal Account Allocation Committee met in Abuja to disburse gross revenues for the month of May. A month later, when they met again to share that of June, the total amount was N518.54bn – an increase of 26.68 per cent. When they met to share the gross revenues for the month of July, the gross revenue had increased by almost 22 per cent to N630.98bn.https://www.nairaland.com/2515530/how-come-oil-prices-fell#36806165 The N511bn for July is also lower than the June figure of 518bn: At the meeting of the Federation Account Allocation Committe (FAAC), in Abuja on Friday, a total sum of N518, 542bn was distributed to the three tiers of government being federally generated revenue for the month of June.http://www.tv360nigeria.com/video-faac-distributes-n518542bn-for-june-2015/ NgeneUkwenu: Even your response to an accusation of dishonesty is laden with dishonesty. Where in my posts do you find support for Biafra? Are you a congenital liar that cannot help yourself? 12 Likes 2 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by vedaxcool(m): 9:38am On Aug 31, 2015 |
I strongly believe if given time Buhari will deliver a very historic performance. 2 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by drss(m): 9:40am On Aug 31, 2015 |
See how APC zombies are trying to decieve Nigerians. The Single account initiative was introduced by GEJ in january. Proudly 5%. 14 Likes 2 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by DelGardo: 9:44am On Aug 31, 2015 |
Government revenue increasing while price of crude oil (the main source of revenue) is falling... as I said earlier this achievement is "against the law of physics". Sharing revenue is not exactly something to celebrate in Nigeria knowing the way politicians treat government resources but the fact that more money is being generated is an indication of the quality of leadership. When PMB is done with putting the right structures in place at the federal level - which he is working on now - I suggest he turns his attention to the states, in an unobtrusive manner and without contravening the constitution. Some steps to consider would be: -Removal of immunity for politicians for corruption cases -Discontinuation of security vote for governors -Discontinuation of constituency project payments to legislators - the funds can be paid directly to the town unions in those communities to administer and render account, if it must be paid. Change is here... I am proud to be associated with it. 11 Likes 1 Share |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by NgeneUkwenu(f): 9:44am On Aug 31, 2015 |
IsraeliAIRFORCE: The Minister of State for Finance, Bashir Yuguda, on Friday, said N388 billion was shared among the federal, states and local governments as revenue for April 2015. http://businessnews.com.ng/2015/05/17/faac-states-lgs-share-n388bn-for-april/ 4 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by IsraeliAIRFORCE: 9:46am On Aug 31, 2015 |
NgeneUkwenu: Let's analyze Ngeneukwenu's thread from the topic perspective in relation to TSA. April, 2015 VAT = N75.1bn Exchange Rate Gains = N24.7 billion August, 2015 VAT = N71.947bn Exchange Rate Gains = N6.409bn Jonathan was by far better 9 Likes 1 Share |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by drss(m): 9:47am On Aug 31, 2015 |
NgeneUkwenu:Propaganda propaganda propaganda. It will not take this govt anywhere. Buari should start paying the N5,000 and declare his assets as promised to nigerians immediately or he will be stoned by febuary next year. 9 Likes 2 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by Demdem(m): 9:48am On Aug 31, 2015 |
Yet fools wont want to count these as part of General Buharis acheivement. He is constantly plugging holes jonah-daft in his daft state widened when he was in charge. 10 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by NgeneUkwenu(f): 9:51am On Aug 31, 2015 |
Demdem: They are ashamed to admit, that Nigeria under jonathan was a fraud! 11 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by muhammed10: 9:53am On Aug 31, 2015 |
Wow |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by IsraeliAIRFORCE: 9:53am On Aug 31, 2015 |
NgeneUkwenu: Tell us more about TSA 8 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by drss(m): 9:54am On Aug 31, 2015 |
NgeneUkwenu:Hahahahahahahhah!!!!!!! A govt with no cabinet in sight why won't revenue increase? No single federal project is going on. Infact this administration has not started any project. Its all about I will, we will, soon we will. 6 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by Demdem(m): 9:55am On Aug 31, 2015 |
NgeneUkwenu: Dont mind the fools. Even General Boyloaf his main man told us that Jonah-daft was a wicked mad man. only some inconsequential ibos disagree. Abobakus for Jonah-daft https://www.youtube.com/watch?v=tqq67csbN2w&feature=youtu.be 9 Likes |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by drss(m): 9:55am On Aug 31, 2015 |
APC zombies are very very very dumb. They are dumbly trying to compare revenue generation with GEJ's government that is already complete with cabinet in place and federal projects scattered all over the country, with Buari's empty government with no cabinet in place and no single project going on. Why will revenue not increase? I tire for these xombies. 10 Likes 3 Shares |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by esmarcq(m): 9:55am On Aug 31, 2015 |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by Goddygee(m): 9:56am On Aug 31, 2015 |
But i taught Apc said d nation is broke 2 Likes 1 Share |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by donholy28(m): 9:56am On Aug 31, 2015 |
Waiting for d wailers to come and wail |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by mouaue: 9:56am On Aug 31, 2015 |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by TheNextAce: 9:57am On Aug 31, 2015 |
Okay. Countdown to ministerial appointment |
Re: TSA Boosts Revenue Collections, As FAAC Shares N511bn In July – AGF by cold(m): 9:57am On Aug 31, 2015 |
Laudable..can this also be attributed to Buhari's body language too? Because it seems this is the new trend now. 1 Like 1 Share |
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