The Federal Government recorded over N7 trillion in the
Treasury Single Account (TSA) towards the end of March 2017. Accountant General
of the Federation (AGF), Mr Ahmed Idris has said.
In an interview with the Economic Confidential in Abuja, Mr Idris further said
the amount represents monies belonging to different Ministries, Departments and
Agencies(MDAs) put in portal in such a way that government can view the entire
balance as one.
“When we say we have over N5 trillion in TSA, it does not mean free funds for
spending. No! no! no! These monies belong to various ministries, departments
and agencies put in a portal in such a way that you can view the entire balance
as one.
“The movement is now over N7 trillion. But as I explained earlier, these are
not free money. People should not be thinking of why is government borrowing to
fund budget. These are budgeted monies for MDAs for projects and developments,”
he said.
He said that the federal government through the implementation of the TSA has
saved additional N4 billion monthly which could have been held by banks, noting
that a total collapse of government activities would have occurred if the TSA
was not in place.
“But let me also make a strong and important point. If not because TSA is in
place and now that the recession is here, only God knows what would have
happened. A monthly drain of over N4 billion and yet no revenue coming in and
leakages continued.
“It could have been a disaster. It was government’s foresightedness and focus
even as TSA was in place before the recession. And that is why we are floating
and not sinking, and we will not sink God willing,” he said.
“For instance, why would one university have over one hundred and twenty bank
accounts, and some of them even hidden and missing and carrying huge balances.
We also discovered that there are costs associated with keeping these multiple
bank accounts. Every month the government incurs over N4 billion in maintaining
these accounts.
“Yet Government is borrowing its own money. And to stop government from
borrowing its money and for the fact that there was no commensurate returns on
such monies, it was double tragedy! This is like a sword with two sides that
can cut from any of the sides. Sanity was brought with the introduction of
TSA.”
Speaking on the transparency in the disbursement of federation account monthly,
the AGF noted that transparency and openness are key to the present
administration, adding that It is a desire to institute discipline, good
governance and trust. The government cannot be trusted if it says one thing and
does another.
“The meager revenue that has been accruing is being judiciously used and there
is fiscal discipline in management of public resources. Let me give you an
example in the previous administration.
“There was a time state government kicked against savings. Now because what
they know and being practiced by government of the day, they have decided to
imbibe the culture of savings.
“We have excess Petroleum Profit Tax (PPT). These are excess taxes from
petroleum tax. When we get money over and above budgeted figure, the excess is
always being saved. If it were before, state governments and other stakeholders
would say it should be shared. And this is what has been giving us buffer,
especially at this time of recession.
“Despite the lean resources, we take from it and augment accordingly. And this
is being done transparently. All the stakeholders are aware of balances at any
point in time. Whatever revenue comes in is shown at National Economic Council
meetings including all the governors who will be briefed by the Minister of
Finance.
“They have seen the openness and have accepted what government has put in place
and the economic team. This is why we are achieving remarkable success amidst
recession”, he said.
AYODELE Fayose, Ekiti State Governor, has described
as absurd the claim by the Minister of Information and Culture, Alhaji Lai
Mohammed, that looters have resorted to burying stolen funds in their
backyards, deep forests and burial grounds.
Fayose said: “Looters in the Muhammadu Buhari’s Presidency, especially those
being compensated for funding the election of the President in 2015 bury their
own loots in the Villa with presidential protection.”
The governor asked: “Should it be wrong for other supposed looters that do not
have presidential protection like their All Progressives Congress counterparts
to bury their loots in burial grounds probably for spiritual protection?”
In a statement issued on Monday by his Special Assistant on Public
Communications and New Media, Lere Olayinka, Fayose said “Nigerians can no
longer be fooled with stage-managed loots recoveries, with no traceable owners
(looters), especially when the loots are traceable to close associates of the
president and his cabinet members.
“Obviously, this so-called anti-corruption war has become a laughing stock with
N49 million found in Kaduna Airport, N448 million discovered in a shop at
Victoria Island, Lagos and N13 billion found in Ikoyi, Lagos neither having
owners nor the identities of owners of the properties where the money was found
known.
“It is either the money belongs to members of Buhari’s government or it is
being planted by the government to sustain its fake anti-corruption fight in
the minds of the people.”
“Enough of stage-managed and fake anti-corruption war aimed solely at
opposition figures, especially presidential hopefuls in the 2019 election.”
Fayose noted that two different laws were now being operated in the country,
with one law for the APC and those who decamp to the party and the other for
the opposition, especially those perceived as having presidential ambition.
He said: “The narrative they push daily is that only those in their government
are saint while other Nigerians, including those in the National Assembly,
Judiciary, opposition politicians and the civil servants are rogues while only
Buhari’s appointees are saints.
“To worsen matters, the cluelessness of the APC government in the last two
years has plunged the country into debt without anything to show.
“The cabals in the Presidency are also taking advantage of the President’s
state of health, which is as a result of his age to oppress Nigerians.
“Nigerians must therefore keep their eyes on the ball and not be carried away
by the orchestrated distractions aimed at preventing them from seeing how the
APC led government has failed woefully.”
Fayose called on the international community to hold Nigeria accountable on the
recovered N13 billion cash found in a Ikoyi, Lagos State apartment, saying:
“This must not be swept under the carpet.”
PORT HAR-COURT— The Overall General of Port Harcourt
Maximum Security Prison, Muslim faithful, Mr. Adeosun Kazeem, has renounced his
faith after participating in the birthday celebration of General Overseer of
Apostolic Army, Bishop Winning Willy Bunting.
Prison Bunting had celebrated his 55th birthday with convicted inmates in Port
Harcourt prison, weekend.
Kazeem, who was convicted for murder in 2007 while in the Nigerian Army,
weekend, rejected his faith and accepted to be a Christian. Speaking during the
vote of thanks, Kazeem noted that he resolved to leave Islam as a result of
love shown to him, pointing out that he was abandoned by his family members,
friends and Muslim brethren immediately he was convicted.
He said that only Christians remembered and showed him love during his
tribulation and that he finally accepted Christ when he saw the humility
exhibited by the bishop.
In his birthday massage to the inmates, the Grand Commander of the Apostolic
Army, Bishop Bunting, said that the choice of Port Harcourt prison for his
birthday was to win souls for Christ on Good Friday.
He stated that there was need for reorganisation in the prison administration,
adding that good infrastructure needed to be put in place to help in the
reformation of the inmates.
Bunting said: “My birthday had always been celebrated in places such as
Government Houses and big event centres. This year, I was instructed by God
Almighty to go the prisons and celebrate by 55th birthday that there is a gift
for me.”
“God instructed that He wants to use my birthday to do a special thing. God
specifically asked for those who have been convicted. The Overall General, who
was a Muslim for 40 years accepted Jesus Christ and denounced Muslim. I believe
that the strong hold of prison has been broken and there is freedom.”
