Federal Government rakes in N10 Trillion from TSA

The Federal Government has collected over N10 trillion from the implementation of the Treasury Single Account (TSA) from 1,674 Ministries, Departments and Agencies (MDAs).

An official in the Office of the Account-General of the Federation (OAGF), Afolabi Ajayi, made this known on Thursday at the Peer Review Mechanism of Ministries Departments and Agencies (MDAs) 2019 in Abuja to the Head of Civil Service of the Federation HoCSF).

Making the presentation, Ajayi stated that under TSA, the government has been able to save over N45 billion monthly in interest on ways and means that it used to pay before the full implementation of the TSA.

He also disclosed that N50 billion revenue have so far been mopped up from commercial banks as a result of the TSA implementation. Ajayi also told the HOCSF that from April 2007 when the Integrated Payroll and Personnel Information System (IPPIS) kicked-off to February 2018, “over N288 billion has been saved as a result of the difference between the amount government would have released to MDAs based on appropriation and actual amount released and paid through IPPIS since payment are made directly to beneficiaries account.”

“When IPPIS was introduced to date, 506 MDAs with total staff strength of 344,625 are on the IPPIS platform with the gross pay of N49, 071,961,959.15k as at September,2018.

“Since IPPIS commenced, many departments and agencies having realized that personnel cost was no longer coming to them for direct disbursement, have embarked on recruitment to utilise their approved manpower/personnel budget so much so that between September 2011 and now, many Nigerians have been employed in the IPPIS MDAs thereby reducing unemployment in the country.”