Federal Government Directs Strict Compliance with Treasury Single Account Policy
The federal government has directed Federal Pay Officers (FPOs) across the country to ensure that Ministries, Departments, and Agencies (MDAs) in the states strictly comply with the Treasury Single Account (TSA) policy by not operating accounts with commercial banks or circumventing its provisions.
The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, issued this directive during a working visit to the Federal Pay Office in Benin, Edo State, as part of her ongoing nationwide tour to assess the operations and challenges of FPOs.
A statement from the Office of the Accountant General of the Federation (OAGF), signed by the Director of Press and Public Relations, Bawa Mokwa, said that MDAs must adhere strictly to the TSA framework.
Dr. Madein reiterated that any MDA seeking to operate an account with a commercial bank must obtain direct approval from the President, which must be communicated through the AGF based on established guidelines.
Dr. Madein also stressed the importance of accurate financial records, warning that inefficiency could be perceived if records do not meet the required standards. She assured that officials from the Treasury headquarters would conduct regular inspections of FPOs to ensure compliance.
