₦airaland Forum

The Central Bank of Nigerian (CBN) has warned banks to move all government accounts to its custody in line with the Treasury Single Account (TSA) rules or face severe sanctions.

Tokunbo Martins, CBN Director of Banking Supervision said in a circular- “BSD/DIR/GEN/LAB/08/048” directed all banks to ensure none of government monies are still in their vault at the expiration of the September 15 deadline issued by President Buhari.

“Please note that the Central Bank of Nigeria will impose severe sanctions on any bank that fails to comply on or before the deadline of 15th September, 2015,” Martins warned.

President Buhari, setting a new deadline for full compliance on Monday referred to his earlier directive to MDAs that all revenue due to the Federal Government or any of its agencies must be paid into the Treasury Single Account (TSA) or designated accounts maintained and operated in the CBN, except otherwise expressly approved.

The fresh directive became necessary because a number of MDAs are yet to comply with the directive handed down about a month ago to facilitate transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution.

The circular – HCSF/428/S.1/125 of September 4, 2015 noted that a number of MDAs were yet to comply with Circular Ref. No. HCSF/428/S.1/120 of August 7, 2015 which conveyed the President’s original directive on the payment of all Federal Government revenue into a Treasury Single Account.

“In this regard, His Excellency, Mr. President has directed that all MDAs are to comply with the instructions on the Treasury Single Account (TSA) unfailingly by Tuesday, September 15, 2015,” Head of the Civil Service of the Federation, Danladi Kifasi had noted in the Monday notice to MDAs.

But as a follow up to the President’s directive, Tokunbo Martins urged banks to ensure full compliance within the stipulated deadline without any excuses.

“The Federal Government of Nigeria recently gave a deadline of September 15th 2015 for all balances/receipts due to the Government or its agencies to be paid into the Treasury Single Account (TSA) maintained with the Central Bank of Nigeria.”

“Banks are therefore directed to ensure that all such funds are remitted in line with the directive on or before the given deadline,” she stated in the circular posted yesterday on the CBN website.

anonimi:
Stories of propaganda only.
Let us know when the threat has been carried out and the effect of the sanctions/penalties.

ammyluv2002:
This is no story. They are very serious with dis

anonimi:
Until there is FULL 100% compliance and/or sanctions for erring MDAs and banks, it remains a STORY by the propaganda people.
QED!

Yazmin:
Why are people so stubborn. Can't they realize that the days of impunity ceased since may 29th. Until the hammer descends on them and they begin to 'Wail'...

Carry on PMB....

idgerrard:
How Katsina Governor, Scammed Buhari To Get N11 Bn Bailout



https://pbs.twimg.com/profile_images/582406220046344192/WCvvE2DS.jpg




More from: http://www.premiumtimesng.com/news/headlines/189658-how-katsina-governor-aminu-masari-lied-to-buhari-to-get-n11-bn-bailout.html

anonimi:
Stories of propaganda only.
Let us know when the threat has been carried out and the effect of the sanctions/penalties.

mrrock:
One problem with this country is corruption is institutionalised. Otherwise, what do they mean by......."all revenue due to the Federal Government or any of its agencies must be paid into the Treasury Single Account (TSA) or designated accounts maintained and operated in the CBN, except otherwise expressly approved".

With this caveat nepotism and underhand deals with be made and corruption continues.

Indeed, corruption is institutionalised in Nigeria. We can't just do without it.

DiegoNakel:
Military regime !!!

anonimi:
Stories of propaganda only.
Let us know when the threat has been carried out and the effect of the sanctions/penalties.

OlaSpeaker:
section 80 of the 1999 Nigeria constitution as amended empower the president to do so it state thus
80 . (1) All revenues or other moneys raised or received by the Federation (not being revenues or other moneys payable under this Constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one Consolidated Revenue Fund of the Federation.
(2) No moneys shall be withdrawn from the Consolidated Revenue Fund of the Federation except to meet expenditure that is charged upon the fund by this Constitution or where the issue of those moneys has been authorised by an Appropriation Act, Supplementary Appropriation Act or an Act passed in pursuance of section 81 of this Constitution.
(3) No moneys shall be withdrawn from any public fund of the Federation, other than the Consolidated Revenue Fund of the Federation, unless the issue of those moneys has been authorised by an Act of the National Assembly.
(4) No moneys shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly.
section

Ephemmm:
Have you got in touch with commercial banks and you were told that they have not receive circulars to that effect? Anyway! continue wailing as a wailer

mrrock:
.Yes, I know. I was talking about the part that gave exceptions. The part in inverted commas that ends "except otherwise expressly approved".

They should've made all revenues go into the TSA, without exception.

anonimi:
Sorry to disappoint you.
Not everyone is as GULLIBLE as you are to fall for STORIES from these APCheat propagandists.



www.nairaland.com/attachments/2225355_img20150318wa001_jpeg1e38dc988cfbcd57a269ac2845051987

MisterLongman:
Stop the propaganda......
Ibrahim shema is the former governor of katsina state and not the current governor.
Remove the picture, that's tantamount to defamation and character assasination