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List of 13 Companies and Agencies excluded from Treasury Single Account policy

465

nnpcThe federal government has exempted some agencies from the Treasury Single Account (TSA) arrangement.

 

Government had emphasised that its directive on the would streamline government’s earnings, and reduce corruption.

 

A circular to the Central Bank of Nigeria (CBN) from the Office of the Accountant-General of the Federation (OAGF) named 13 agencies that are excused from the current TSA arrangement that had mopped up government funds from commercial banks.

 

In the circular, the exempted agencies were described as “profit oriented government business entities that pay dividends to the Federal Government of Nigeria.”

 

The circular addressed to the Director, Banking and Payments System Department of the CBN, with FD/LP2015/C/ADC/20/1/ /DF as reference number was dated September 14, 2015 and signed by M K Dikwa, for the Accountant-General of the Federation, Federal Ministry of Finance, Funds Department, Abuja, FCT.

 

The (thirteen) exempted agencies are:

 

(1) Nigeria National Petroleum Corporation (NNPC), 

(2) Power Holding Company of Nigeria (PHCN), 

(3) Bank of Industry (BoI), 

(4)  Nigeria Railway Corporation, 

(5) Federal Mortgage Bank of Nigeria, 

(6) Bank of Agriculture, 

(7) Niger Delta Power Holding Company/National Integrated Power Project, 

(8) National Communication Satellite Limited, 

(9) Galaxy Backbone Ltd and 

(10) Ajaokuta Steel Company Ltd

(11) Urban Development Bank, 

(12) Nigerian Export – Import Bank  

(13) Transcorp Hilton Hotel

 

To understand the various categories, see the relevant table below provided by Head of Civil Service of the Federation, Danladi Kifasi, in a circular, titled: HCSF/428/S.1/120 of August 7, 2015,  on  the operation of treasury single account by federal ministries, departments and agencies.

  

S/N

 

Category

 

Examples

 

Implementation Strategy

 

1

 

MDAs fully funded through the Federal Government Budget

 

 

 

All Ministries, Departments, Agencies and Foreign Missions, etc.

 

      i.        All collection from these Agencies to be paid directly into the TSA (e-Collection)

 

    ii.        Expenditure to be drawn from CRF based on Annual Budget

 

2

 

MDAs “partially funded” through the Federal Government Budget but generate additional revenues

 

 

 

Teaching Hospitals, Medical Centres, Federal Tertiary Institutions, etc.

 

      i.        All Revenue Collection from these Agencies to be paid into the TSA except (Union Dues)

 

    ii.        Sub-Accounts linked to TSA to be maintained at CBN

 

   iii.        System will be configured to allow access to funds based on approved budget

 

3

 

MDAs not funded through the Federal Budget but expected to pay operating surplus/ 25% of Gross Earnings to the CRF

 

CBN, SEC, CAC, NPA, NCC, FAAN, NCAA, NIMASA, NDIC, NSC etc.

 

      i.        All Collection from these Agencies to be paid into the TSA except (Union Dues)

 

    ii.        Sub-Accounts linked to TSA to be maintained at CBN

 

   iii.        System will be configured to allow access to funds based on approved budget

 

4

 

MDAs that are funded from the Federation Account

 

NNPC, FIRS, NCS, MMSD, DPR.

 

      i.        All Federation revenue generated by these Agencies to paid into Federation Account

 

    ii.        All Independent Revenue generated by these Agencies to be paid into the TSA

 

   iii.        FGN Share of Federation Account to be paid into CRF

 

   iv.        Statutorily approved cost of Collection to be deducted from Federation Account to meet Budgeted Expenditure

 

5

 

Agencies funded through the Special Accounts  (Levies)

 

NSC, RMRDC, PTDF, NITDA, etc.

 

      i.        Sub-Accounts linked to TSA to be maintained at CBN

 

    ii.        System will be configured to allow access to funds based on approved budget

 

6

 

Profit oriented Public Corporations/ Business Enterprises

 

BOI, NEXIM, BOA, Transcorp Hilton, etc.

 

Dividends from these agencies to be paid into the TSA

 

7

 

Revenue Generated under Public Private Partnership

 

All Incomes from PPP arrangement e.g. Production of International Passports, Seaport Concession Arrangement etc.,

 

      i.        TSA Sub-Accounts to be maintained in CBN

 

    ii.        FG portion of the collection to be paid into TSA

 

   iii.        Partners portion of the revenue to be transferred to the partner’s account

 

8

 

MDAs with Revolving Funds and Project Accounts

 

Drug Revolving Funds, (Teaching Hospitals, Universities) Fertilizer Revolving Fund, Roll-Back Malaria, Sure-P, etc.

 

      i.        Project Account (Revolving Funds) to be maintained at CBN

 

    ii.        Collection (IGR) from these Agencies to be paid to TSA

 

   iii.        System will be configured to allow access to funds based on approved budget

 

 


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