Muhammadu Buhari Cancels Single Accounts Policy

With less than 5 working days after the Deadline for Ministries, Departments and Agencies of Government to switch to the Treasury Single Accounts Policy (TSA), President Muhammadu Buhari has made another U-turn by granting an exemption to 13 MDAs in including NNPC after seeing the handicaps of the blanket application.

TSA was introduced in Nigeria in 2014 and after a thorough by the last administration the policy was kick-started in phases, while exemption was given to some Ministries and agencies because of the peculiar nature of their operations.

This exposes the inability of Buhari’s government to thoroughly go through the handover Note. Some of these list below where either exempted or given a long time before joining the new system.

The exempted are as below:
1. Nigeria National Petroleum Corporation
2. Power Holding Company of Nigeria
3. Bank of Industry
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
10. Ajaokuta Steel Company Ltd
11. Urban Development Bank
12. Nigerian Export – Import Bank
13. Transcorp Hilton Hotel.