MDAs to submit The Federal Government, via the Office of the Accountant-General of the Federation, has directed all Ministries, Departments, and Agencies to submit their account statements held in commercial banks.

According to the government, the directive is part of efforts to uphold financial discipline.

The instruction was communicated in a memo signed by Accountant-General Shamseldeen Ogunjimi, on Tuesday, according to The Punch.

In the memo, Ogunjimi expressed concern over the continued use of commercial banks by MDAs, despite an earlier directive requiring them to close these accounts and operate exclusively through the Treasury Single Account at the Central Bank.

Recall that in February, the government directed MDAs to cease using commercial banks, emphasizing its opposition to any framework outside the TSA.

While reaffirming the Federal Government’s commitment to the Treasury Single Account (TSA) policy, the Accountant-General of the Federation urged Federal Pay Officers to ensure that Ministries, Departments, and Agencies at the state level do not maintain any accounts with commercial banks or circumvent any TSA provisions, the Office of the Secretary to the OSGF stated in February.

Ogunniyi said, “It has been observed with dismay that funds belonging to the Federal Government are still domiciled in several accounts held with commercial banks, contrary to Federal Government Circulars and the operational framework of the Treasury Single Account, which mandates the consolidation of all Federal Government revenues and receipts into the TSA domiciled with the Central Bank of Nigeria.

“In view of the above and following the Honourable Minister of Finance directive, all Directors/Heads of Finance and Accounts in Federal Government Ministries, Departments and Agencies and Federal Government-owned Enterprises are immediately required to submit Statements of all Bank Accounts (active, dormant and closed) maintained in all commercial banks over the last six (6) months, clearly indicating account names, account numbers, bank branches and current balances.

“This directive takes immediate effect and must be treated with the utmost urgency, as it is part of the ongoing efforts to strengthen fiscal discipline and uphold the integrity of the Treasury Single Account Framework.”