₦airaland Forum

A guy was seen writing on the bosoms of young ladies in what is apparently a post-graduation get-together at Ladoke Akintola University. The ladies and some guys wore white T-shirts on which they take turns to write on with a coloured markers.

The guy posted the pictures on his Facebook page with the caption:

“Thanks God for the gift of life###
Lautech Class 16 log out week###
Day 3##
Sign out ///”

Many of his friends also made comments in response to the pictures, congratulating him and encouraging him in the act. The ladies in the pictures were also smiling, apparently seeing nothing wrong or feeling shy about the act. Seems to be fun.

http://www.todaysecho.com/ladies-get-bosoms-signed-guy-university-graduation/

When President Muhammadu Buhari listed his achievements last week, he mentioned the Treasury Single Account (TSA) as one of them.
Without going into questions of who started the policy, it is good that for once, those at the very top of the Federal Government are owning the TSA policy.
First, it was the Minister of Information and Culture, Alhaji Lai Muhammed, who reportedly said that without TSA, Nigeria would have collapsed.
Then repeatedly, the Minister of Finance, Mrs. Kemi Adeosun has spoken convincingly about the laudability of the policy and how it has improved government’s financial management. Other than these, there are few individuals within the government who have really made efforts to sell the TSA to Nigerians.
Therefore, the fact that the president mentioned the policy as an achievement gave it more life and hints on the possibility that this is not an initiative that will be swept under the carpet any time soon.
One of the challenges that the policy has faced is that of ownership. At the very beginning, major beneficiaries and the government made no serious effort at owning the policy.
Over the last few years, praise has been heaped on TSA, but one thing has been missing: That push at sensitising Nigerians about its use, relevance and imperative for continuity.
If TSA were a private business initiative, there would have been a lot of stakeholder engagement forums to promote it.
Right from the President Goodluck Jonathan days when the policy was first initiated, there was no concrete arrangement to bring all the stakeholders together to sensitise them on its advantages and workings. Under Muhammadu Buhari, things have remained largely the same.
What this scheme of things has done over the years is that it has left many guessing and trying to figure out the workings of the policy. As a matter of fact, this confusion left a governor guessing that TSA was set up as a mechanism to accumulate funds for Ondo State elections!
On the other hand, if TSA was the sole property of a business, things would have been different. Companies or private business entities deal with suppliers, distributors, customers and employees. They also engage with them periodically to ensure that policies and procedures are well understood. There is usually an effort to bring the parties together to achieve goal congruence.
With TSA, this has not been done. Rather, the House of Representative Ad Hoc Committee has essentially called for an audit and nothing more.
At inception, there should have been a forum that brings together the government, the Remita platform designers, civil society and other Nigerians to discuss what was going to be achieved with TSA.
Beyond that, there should have been an attempt to further reinforce the narrative as the implementation of the policy progressed. What has happened so far is that the policy has been implemented, and whenever there is going to be an adjustment, it is seen in the media.
A clear example is with how the Government Integrated Financial and Management Information System (GIFMIS) was introduced to TSA procedures a few months ago.
Essentially, big players in the financial space made a decision to change the way funds were paid into the TSA and no concrete method of communication was used to pass the news to the everyday Nigerians who use the system to meet their needs until they were standing at counters in commercial banks hoping to make payments. The result, unpalatable.
These and many occurrences have made the need for periodic stakeholder meetings imperative. What will these meetings do? They will afford the designers of the Remita app an opportunity to sit with representatives of the Ministry of Finance, alongside banks, civil societies, government agencies and ordinary Nigerians who use TSA everyday.
The meetings will also present a opportunity for them to express their views and suggest ways TSA can run more easily. This is extremely necessary.
But the bigger question is who will bell the cat? Who will be responsible for this effort. Clearly, the government is the biggest beneficiary of TSA as implied by the vociferation of President Buhari, so it is logical that the government should be at the forefront of any effort geared at popularising the policy or clearing doubts. So, the Ministry of Finance should take on the task of updating every Nigerian from time to time.
It should also be at the fore of bringing interested parties together when there is going to be a major shift in the way things are done with the TSA. There are records that indicate that GIFMIS was established or started in 2003.
According to the Government Integrated Financial and Management Information System, “Since July 2003, the Federal Government has taken bold steps to begin to tackle the deep-seated risks to macroeconomic and fiscal stability and to address key sources of economic inefficiency. It is implementing policies to strengthen economic management and to deal with weak governance and corruption.” This statement was penned before GIFMIS was incorporated into TSA. However, most Nigerians were at a loss as to where the policy was from when it was eventually implemented.

A new set of information regarding offshore tax havens have been revealed. In one of the biggest information leaks in history, more than 13 million files pertaining to wealth stored in offshore tax havens has revealed information on tens of thousands of the world’s wealthiest companies and people have been revealed.

Here are the 5 things you need to know about the Paradise Papers

The size

The Paradise papers is the second largest database of information ever leaked, topped only by 2016 Panama papers. The paradise papers cache contains 1.4 TB of information while the Panama papers contained 2.6 TB.

Who released them

The Paradise Papers were released by the International Consortium of Investigative Journalists(ICIJ). They were obtained by German newspaper Süddeutsche Zeitung and shared with almost 100 media partners around the world. The documents originally came from a company called Appleby, which specializes in processing offshore accounts for rich clients. Appleby is said to be part of the so-called ‘Magic circle’, a special group of firms specialised in offshore processing. It has outposts in Bermuda, the Cayman Islands, the British Virgin Islands, the Isle of Man, Jersey and Guernsey.

What they reveal

According to Time, ‘the disclosure of the Paradise Papers sheds light on the complex structures the global elite use to obfuscate their financial dealings. While the use of offshore accounts is not in and of itself illegal, it is sometimes linked to money laundering and tax avoidance.”

The papers reveal where the wealthiest people in the world stash their cash and also creates several questions about why they would hide their money if the money was clean. Another revelation from the information provided by the papers is about how companies and individuals mask their investments with layers of channels, using investment vehicles. It is surprising that some entities thought to be without ties are actually doing business together.

About whom

The names in the Paradise papers are numerous and include some of the richest and most powerful people from several countries.

Queen Elizabeth of England is one of the global elite named. Over 11 million pounds of her private money is being kept in offshore accounts by the Duchy of Lancaster, which manages her private estate.

American technology firms, Facebook and Twitter have also being named. The Times reported that ‘Two Kremlin-linked companies have funnelled hundreds of millions of dollars into Facebook and Twitter through a business associate of Trump’s son-in-law Jared Kushner, according to the leaked documents.’

Also, in the United States, Donald Trump’s Secretary of Commerce, Wilbur Ross has been named. Guradian reports that substantial payments from a firm co-owned by Vladimir Putin’s son-in-law had been made to a shipping group owned by Ross.

In Nigeria, Senate President, Bukola Saraki is the only name to be discovered so far. We don’t know if more names come up as investigative journalists dig through tons of data. Saraki’s company, Tenia Ltd. described in Appleby’s records as “a holding company,” was established in the Cayman Islands in 2001.The company’s listed address, 30 Saka Tinubu Street, Victoria Island, was one of the properties investigated in 2016 during Saraki’s alleged false declaration of assets.

http://www.todaysecho.com/paradise-papers-4-things-need-know-leaked-documents/

President Buhari has survived through great health travails since inception in office and he has arguably spent more time attending to himself than the nation. However, since he returned from his long trip to the UK which many thought he would not survive, he appears to be bouncing back daily and this might be in readiness to contest in the next presidential poll.

Despite the loud voices of interest groups who want him back in 2019, till now, President Buhari has neither made any clear statement on his ambition to return to office, nor has he discredited any assumption. Buhari’s demeanour, if anything to go by, shows that he is subtly waiting for events to play out or acting out a script which is only available to his trusted cohorts.

Although 2019 might seem a long time from now, the opposition is strengthening, and many Nigerians are becoming largely impatient with Buhari’s administration. The ‘change’ mantra which heralded the APC government has not translated into much progress for the common man or the nation at large. It also appears that the possibility of any major improvement in the next two years is not in sight.

However, in the glare of failed promises, the president’s body language suggests that he may be nursing the ambition to return as Nigeria’s president in 2019.

Nigerians’ interest in Buhari’s stance on re-election was heightened over the weekend following a closed-door meeting with some major APC chieftains, including Bola Tinubu, national leader of the party. Seeing that keeping the seat of power will be greatly threatened by Buhari’s decision to run or not to run, leaders in the party are perceived to be rallying round Buhari to strategize for the forthcoming election. Nevertheless, when asked by the media, Bola Tinubu, who was rumoured to have fallen out cordial relationship with Buhari at a point, failed to give a word on the possibility of Buhari’s return in 2019.

Tinubu explained his well-kept distance from Buhari, saying “Once you create leadership and it is functioning, you don’t have to babysit that leadership unless there is a loss of confidence and I don’t have that.”

With this recent engagement and the vote of confidence given to Buhari’s leadership during the meeting, it is clear that the APC caucus is positioning Buhari for a rerun, as his failure to run might completely divide the party.

In the aftermath of the closed-door meeting and the National Executive Committee meeting of APC, Buhari who has been silent on party politics for a while has taken to his twitter page to celebrate APC and recount the achievements of his administration so far, calling on supporters to keep their hope in the party. Doesn’t this further prove that Buhari has 2019 presidency on his mind?

He says: “Our Change, the Change that the APC represents, is here to stay. We will stay united as a Party & continue to work for the good of Nigeria”.

“I have a long list of people I would like to thank: our Party leadership, the leadership of the National Assembly, our State Governors”.

“The APC is proud of our achievements in the last 2 years: the fight against Boko Haram, Agric Revolution, Improved Power, Peace in the Delta.”

Another factor that signals Buhari’s interest in 2019 is the cancellation of Intels Logistic Services’ contract by Nigeria Ports Authority. Atiku Abubakar, who owns Intels appears to be the strongest contender Buhari has within his party. Therefore, cancelling his company’s contract has been described as a means to cripple Atiku’s business and weaken Atiku’s confidence to challenge him.

In a similar petty move, Buhari got on Fayose’s tail, shortly after he declared his intention to run for President in 2019, through the arrest of the Ekiti commissioner of finance, Toyin Ojo, and the accountant general, Yemisi Owolabi, by the EFCC.

While there might still be a lot of uncertainty as regards Buhari’s interest in 2019, PDP has not failed to express its plans to displace the government on or before the coming election. The party is gathering strong momentum and in a recent development, calling for Buhari’s impeachment.

There are many factors that might work against Buhari’s chances in 2019.

First, Buhari has failed to be forthright on the state of his health. His frequent trips to see his doctors in the United Kingdom show that all is not completely well. Buhari leaves a lot of room for doubt, considering Nigeria’s experience with the Yar’Adua-led administration. His Special Assistant, Garbu Shehu who once certified him fit to continue after 2019 also confessed that he cannot categorically state the nature of Buhari’s ailment. It is left for Nigerians to determine if they want to continue with a president who needs adequate medical attention outside the shores of his country, or make way for a contender.

Secondly, Buhari’s anti-corruption crusade seems to have taken a different turn with several allegations of prejudice, especially from PDP. Buhari is currently unsettled by controversies surrounding his role in the recall of Abdulrasheed Maina into the civil service, despite being aware of his antecedence of looting pension funds and fleeing Nigeria to the United Arab Emirates since 2013 to resist EFCC’s arrest.

Similarly, President Muhammadu Buhari’s sack of the suspended Secretary to the Government of the Federation, Babachir Lawal; and the Director General, National Intelligence Agency, Ayodele Oke has also caused an uproar nationally. The PDP has described the act as totally unacceptable, especially because Buhari did not refer the matter to the Economic and Financial Crimes Commission (EFCC) for prosecution, even when the duo was indicted by the Committee chaired by Vice President Yemi Osinbajo and the Shehu Sani-led ad-hoc committee.

Although Nigerians earnestly await Buhari’s official declaration, it is not too early to draw conclusions from the president’s move that he is preparing for a rerun. Anticipating this, the PDP has declared that the only way the President Muhammadu Buhari-led APC can retain power in 2019 is by rigging.

http://www.todaysecho.com/buhari-game-plan-unfolds-as-he-prepares-for-second-term/

Former Arsenal player Martins Keown thinks this Manchester City squad has all it takes to finish the season unbeaten. Keown also said Man city’s opponents ‘melt’ before they’ve even played.

The ex-defender thinks the Blues can replicate the Arsenal’s Invincibles feat but is not sure how they will juggle European and domestic challenges

Manchester City’s dominance is such that they cause opponents to ‘melt’ before a ball is kicked, Martin Keown says, but the former Arsenal man has questioned whether they can finish the Premier League without a defeat.
Pep Guardiola’s side have won eight and drawn one of their matches in the English top flight and have scored 32 goals overall – 10 more than nearest challengers Manchester United.

City also have a perfect record in the Champions League after three games as they aim to win the tournament for the first time in their history.

And Keown, who was part of the Arsenal squad that finished unbeaten in 2003-04, believes playing in both competitions will leave City vulnerable to defeats on the domestic front.

“Manchester City have the greatest chance of emulating Arsenal’s Invincibles of 2003-2004,” Keown wrote in The Daily Mail.

“They are wiping the floor with the rest of the Premier League, but Pep Guardiola’s quest for greatness in Europe could prevent City from matching our feat.

“City are certainly developing an invincible aura. They are winning matches in the tunnel.

“Every emphatic victory adds a layer of superiority that causes opponents to melt when they line up before a game.

“In our unbeaten league season, we were knocked out in the semi-finals of the FA Cup and the quarter-finals of the Champions League.

http://www.todaysecho.com/man-city-can-match-record-arsenals-invincibles-season-keown/

It is known by several names, including marijuana, ganja, Indian hemp, and weed. In Nigeria, it is called Igbo, gbana, kaya, and wee wee in the local parlance. Long regarded for its medical benefits, Cannabis has been abused and used for recreation around the world for a long time. Nigeria has witnessed its own explosion of cannabis abuse in recent times, with young people smoking its green leaves to get high or as the Americans call it; stoned!

In Nigeria, the use of Cannabis is illegal. However, despite its medical and cosmetological benefits, Cannabis remains a menace in the country due to its abundance and tendency to get its users high and addicted. According to the Encyclopedia Wikipedia, Nigeria is the eight largest consumer of Cannabis. The plant is widely grown in the following states:

Ekiti
Widely known as the largest producer of weed in Nigeria prior to 2015, the National Drug Law Enforce Agency (NDLEA) says its sustained crackdown has significantly reduced the quantity of cannabis produced in the state. Nevertheless, 246 tonnes of cannabis were discovered and destroyed in Ekiti in August, 2017



Ondo
The sunshine state is arguably the largest producer of weed in the country. The Benin Ore road has a large concentration of hemp farms, with many bursts by the NDLEA recorded there. On September 25, 2017, media sources reported that the Nigerian army had intercepted and arrested 2 men who were moving cannabis from Ondo state to Lagos at the Owena checkpoint. On October 23, a media report by the Daily Times indicated that the passion for Cannabis farming in the state was leading to deforestation as weed plantation covered over 5,000 hectares of arable land in Ala forest, Akure North Local government. With the discovery of what is arguably the largest cannabis plantation in the world, Ondo State takes over from Ekiti as the largest producer.



Oyo
This Southwestern state is also one of the largest producers of weed. As the NDLEA ramps up its fight against marijuana abuse, Oyo has suddenly fallen under its searchlight. In February 2017, channels TV reported that the NDLEA confiscated over 1,000 kilograms of fresh cannabis seed meant for 2017 planting season in Ogbomoso, Oyo State, while conducting a stop and search. On June 16, 2017, men of the NDLEA discovered 24 hectares of cannabis plantation found at the Gambari forest reserve in Ibadan.



Edo
Like its neighbour to the west, Edo state has a large concentration of cannabis farms. Many of these are located around the border along the Ore-Benin road. In April 2017, the Punch reported that 60 males and 13 females had been apprehended in Edo State with 10,094.75kgs of cannabis between January and March 2016. In August 2017, the NDLEA destroyed over 37 hectares of cannabis plantation worth about 1.7billion naira in Owan East, Owan West, Uhunmwonde and Ovia North-East Local Government areas of the state.



Osun
From discussions among youths on online forums and in hang outs, it is easy to conclude that Osun State produces the highest quality of weed. This is because of the frequent reference to the effect of the so-called ‘Oshogbo weed’, made popular by memes on forums such as Nairaland and Nigeria Adult forum. Like its mother state, Osun produces a great deal of cannabis as reports have shown. As the NDLEA steps up its fight against Cannabis farming, the agency discovered and destroyed 16 hectares of cannabis farm in the state on Oct 4, 2017.



Delta State
Like its neighbour, Edo, Delta State produces a large amount of cannabis. Although, still largely hidden from the authorities, the thriving marijuana sales market in Delta state is one of the largest in the country and there are areas in the state known specifically for the cultivation of the crop. Although, reports of drug bursts are not rampant like in Ondo and Ekiti states, there have been a couple of cases in the last 3 years. In June 2016, the NDLEA destroyed over 100 hectares of cannabis farm in Ndokwa west area of the state.

http://www.todaysecho.com/ganja-havens-six-nigerian-states-high-concentration-cannabis-plantations/

The Federal government has received a strong backlash over the recall and promotion of a former chairman of presidential taskforce on pension reform, Abdulrasheed Maina, who had been on the run from the law in connection to a fraud case.

Maina was appointed by former President Goodluck Jonathan as Chairman of the task force in 2010 to check the corruption in the country’s pension system.

In 2012, the Nigeria Police accused him of misappropriating N100 billion pension funds in connivance with others.

The Civil Service Commission reportedly dismissed him for “absconding from duty’’.

Maina was arraigned in absentia by the Economic and Financial Crimes Commission (EFCC), which declared him wanted in 2015, and he has been on the run since.

It was however, shocking when news reports began to filter in that Maina has not only been recalled, he has been appointed to head a department in the ministry of internal affairs.

With the immediate sack of Maina from the Civil service and order for investigation into his alleged recall and appointment, President Buhari seems set to make somebody answer for this disgraceful act that has undermined his government’s fight against corruption

As the latest storm blowing over Muhamadu Buhari’s government continues to rage on and accusations and counter-accusations fly around, Today’s Echo examines the situation surrounding Maina’s recall and those who are at risk of facing the wrath of the president.



General Dambazzau (retrd)


Lieutenant-General Bello Dambazzau is the Minister of Interior. He is the man heading the ministry where Maina was appointed, therefore many people believed the incidence could not have happened without his knowledge and influence. After the story broke out, several questions were directed at him, to know his role in the saga.

Dambazzau confirmed to journalists that that it is true that Maina has be appointed to his ministry and promoted to be director of Human resources. However, he claimed to have had no hand in his posting.

Press Secretary to the Minister Ehisienmen Osaigbovo, in a statement four days ago, said Maina was posted a few days ago to the Ministry on acting capacity. The minister also claimed that he doesn’t have the power nor the responsibilities to influence the process of Discipline, Re-engagement, and Deployment of any civil servant to his Ministry or any other Ministry for that matter.

He said such responsibilities are vested in the Federal Civil Service Commission and/or the Head of Civil Service. This is seen as an attempt to pass on the entire blame on the Head of Service. Nevertheless, if it is discovered that he had played a larger roll in the saga than he admits, he might just lose his job.



Mrs Oyo Ita


Mrs Winifred Oyo Ita is the Head of Service of the federal government. She was implicated in the Maina case because the minister of interior indicated that she was the one that endorsed the recall of Maina without his knowledge. Dambazzau’s allegations against her became weightier after it was discovered that Maina’s appointment was backdated to 2015 and he had been paid arrears of over N20mln.

President Buhari ordered her to carry out an investigation on the issue immediately and submit its report within 48 hours. Oyo Ita carried out the investigation and submitted the report to the president’s chief of staff, Abba Kyari, on Tuesday. Oyo Ita alleged that Dambazzau had lied against her. In a statement released by her Assistant Director, Media Relations, Mohammed Manga, she said:

“The attention of the Office of the Head of the Civil Service of the Federation has been drawn to several media reports that the Head of the Civil Service of the Federation has approved the reinstatement into the Federal Civil Service of Alhaji Abdulrasheed Abdullahi Maina and his subsequent posting to the Ministry of Interior.



“The Head of the Civil Service of the Federation (HCSF) wishes to inform the public that the reinstatement and posting of Alhaji Abdulrasheed Abdullahi Maina never emanated from the Office of the Head of the Civil Service of the Federation. The war of words has continued between the two senior government officials. If found guilty of complicity in this conspiracy, Buhari will be merciless with her.



Abubakar Malami: Attorney-General


The war of accusations between the head of service and the minister of interior was still ongoing when further details began to emerge about the Attorney General’s involvement in the issue. News reports allege that Malami had in a letter with Ref. No. HAGF/FCSC/2017/Vol. 1/3, directed the Federal Civil Service Commission to give consequential effect to a judgment he said voided the process that led to Maina’s dismissal from service.

Vanguard reports that, ‘on the strenght of the letter, the FCSC, at the end of a meeting it held on June 14, 2017, requested the Office of the Head of the Civil Service of the Federation, OHCSF, vide a letter marked FC.4029/82/Vol. III/160, and dated June 21, to advise the Permanent Secretary of the Ministry of Interior to consider the AGF’s letter and make appropriate recommendations regarding Maina’s case”.

So far, Malami has been silent on the issue but he cannot be silent for long as the presidency seeks who to blame for this embarrassing episode. Meanwhile, Malami told journalists yesterday, that he is ready to speak to Nigerians about the issue. Well, he better speak up fast, or else, it may be his head rolling.

Source: http://www.todaysecho.com/mainagate-heads-may-roll/

Treasury Single Account (TSA) is a Federal Government (FG) bank account into which all revenues collected on behalf of FG by its Ministries, Departments and Agencies (MDAs) are deposited and from which the government spends on salaries, projects, debt servicing, among other obligations.

The TSA is domiciled with the Central Bank of Nigeria (CBN). Remita, which was created by an IT firm, SystemSpecs, provides the technological platform for collecting and remitting funds into TSA. To improve classification of receipts, those remitting into the TSA have also been mandated to generate GIFMIS Revenue Reference Numbers.

Not many Nigerians know that the partial implementation of TSA took place as early as 2012. At that time, only government payments were being made from TSA. By 2015, TSA went full circle to include the collection of government revenues from the public. The first Treasury Circular on migration to e-collection was issued on 19th March 2015.

At the very beginning of the implementation of the TSA policy, there were debates about it. The policy attracted applause, curiosity and antagonism.
These debates were fuelled by those who did not understand the policy. But more Nigerians are getting to understand how TSA works.

And indeed, more Nigerians now appreciate what the policy is meant to achieve. They have endorsed it as an efficient government financial management system. But TSA is not unique to Nigeria. It has been adopted by several developed and developing countries including the United States, Britain, France and some African countries.

Recently, a House of Representative Ad-hoc Committee called for an audit of funds which have passed through TSA in the last two years. As we await the full report of the audit, it is important to shed light on the benefits of adopting TSA:

1. TSA helps reduce fraud
The implementation TSA has revealed corrupt activities going on in some government agencies, including the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Joint Admission Matriculations Board(JAMB).

In the past, government funds were often collected by persons acting in the capacity of government. Most of these funds were not remitted to the government without consequences. With TSA, this has been minimised.


2. It loosens up funds for development

Between Sept 2015 and July 2017, the government saved over N108billion on bank charges. In the past, government used to pay an average of N4.7billion monthly on these charges, according to the Accountant General of the Federation. Also, TSA has saved FG from needless borrowing and interest on such borrowings.
In the past, government agencies would deposit sums of money in Deposit Money Banks, only for other government agencies to borrow what had been deposited by their sister agency. Government was paying interest to commercial banks on its own funds!

With the implementation of TSA, funds that would have gone to such wasteful activities are now saved and can be channelled to developmental projects.

3. TSA makes FG Audit processes easier
The centralisation of fund collection and disbursement makes audit easier and quicker. Full electronic payment integration has made it easy to make payment into government account and to actually verify that the funds have been received by the government. Since funds flow into one destination with the CBN, it is easier to query the system and audit it.

Also, funds can be tracked real time. It is possible at every point in time to know the liquid asset of federal government and to know what MDAs are contributing the most.
For those making payments, receipts are electronically generated, transactions can be easily tracked and forgery is minimised since transactions can be authenticated and verified real time, by anyone who has access to the back-end.

4. It promotes effective cash management

In the past, tracking cash assets and finances was complicated and burdensome for government. It was difficult to undertake effective cash management as required by the Fiscal Responsibility Act. The government could not easily determine its cash position at any point in time nor avoid the excessive use of ways and means in financing budget expenditure.

There were often idle unspent balances in MDA accounts. These earned interest for unscrupulous individuals within the MDAs. Also, when commercial banks failed in the past, they took government funds, amounting to about N70billion down with them.
Meanwhile, Domestic debt was growing because borrowing was not aligned with need.

Some government agencies/ ministries were not using up to half of the funds allocated to them. Unspent funds were left in fixed or savings accounts, yielding minimal interests.
Government resorted to borrowing from the bank in such times, even though the banks had cash from other government agencies with them.

This was a complete loss to the government.

5. Eliminates the burden of multiple accounts
Prior to the implementation of the TSA, MDAs operated multiple accounts in various banks for various purposes. There are records which show that at some point government MDAs had at least 20,000 accounts scattered across banks. These came with charges which were humongous.

Recently, the Minister of Information and Culture, Alhaji Lai Mohammed, said the judicious management of TSA and the unrelenting war against corruption is why the country has not collapsed. At a time of scarce resources and diminished revenue, government must be prudent.
TSA has helped to conserve funds for useful projects. With time, the incremental changes effected by the adoption of the policy will reflecting on the broader economy and the lives of ordinary Nigerians.

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