House of Representatives on Tuesday expressed concern over the exemption granted to some revenue generating federal agencies from complying with the Treasury Single Account (TSA) policy.
To this end, the Ad-hoc Committee investigating the funds accrued into TSA, chaired by Nuhu Danburam (APC-Jigawa) resolved to invite Abba Kyari, Chief of Staff (CoS) to the President as well as Chief Executive of some domestic banks over non-remittance of N50 billion into the TSA domiciled with Central Bank of Nigeria (CBN).
According to the lawmakers, Kyari is expected to provide President Buhari’s approvals and relevant documents for the exemption of certain accounts of Ministries, Departments and Agencies (MDAs) from remitting into the TSA.
The Adhoc Committee also issued 48-hour ultimatum to Nigerian National Petroleum Corporation (NNPC) to produce the Presidential approval that exempted it from remitting its funds to the TSA.
To this end, the Ad-hoc Committee resolved to compel all the Chief Executives of all the affected banks if they fail to appear on Wednesday, 20th November, 2017.
Danburam who frowned at the flagrant disregard to the TSA policy, pledged support for the present administration’s move towards curbing corruption and leakages in government revenues.
While responding to questions on the exemptions granted to some of the MDAs, Dipo Fatokun, who represented CBN Governor, Godwin Emefiele said the apex bank was aware of exempted accounts.
He said: “Yes we are aware, it is not yet 100 percent transfer and we have the schedule.”
On the NNPC exempted accounts, Fatokun who confirmed the exemption granted to NNPC Joint Venture account, however noted that “apart from that approval, there is no other approval that I’m aware of.”
In swift response to the CBN submission, the lawmakers alleged that the Chief of Staff in the letter of approval referred to NNPC’s letter of request for several accounts.
The Committee also said the Chief of Staff gave a blanket approval without being specific on any account for exemption.
To this end, the Adhoc Commmittee directed Maikanti Baru, NNPC Group Managing Director (GMD) to appear before it with relevant documents.
“The directive was more like an Executive Order that must be signed by the President, as such, this Committee need to know if due diligence was carried out in giving the Presidential approval,” Dambarrau said.
Speaking further, Fatokun said: “We wrote to banks to explain why they are holding the money and they have submitted their reports stating the reasons but we are still compiling the reports.
“Nonetheless, some of them stated that they are still holding some accounts because they are under court processes, some were exempted due to their status like the judiciary, the National Assembly and so on but we are still compiling the reasons. We are also going to engage each bank one by one,” Fatokun explained.
While ruling the Ad-hoc Committee mandated CBN to submit its two years reconciliation report with the Accountant General of the Federation, the MDAs and the banks, by December ending.
The lawmakers also directed CBN to grant Auditor General of the Federation unfettered access to all accounts and records in re!ations with the TSA.
To this end, the Ad-hoc committee resolved to adjourn till Wednesday, 20th December, 2017.
KEHINDE AKINTOLA, Abuja
