By Tony Obiechina, Abuja
The Federal Government realized over N10 trillion from the implementation of the Treasury Single Account (TSA) across 1,674 ministries, departments and agencies (MDAs).
The Office of the Accountant General of the Federation (OAGF) disclosed this on Thursday in Abuja while presenting the 2019 Peer Review Mechanism of MDAs to the Head of Civil Service of the Federation HSOF), Mrs Winifred Oyo-Ita.
While making the presentation, the OAGF stated that under TSA, the government was able to save over N45 billion monthly in interest on Ways and Means and mopped up N50 billion from commercial banks as a result of TSA implementation.
According to the OAGF report, “from available information, the status of the budget implementation in 2017 was 67%.”
On the Integrated Payroll & Personnel Information System (IPPIS), the OAGF said, “from April 2007 when the scheme commenced to February, 2018,over N288 billion has been saved as a result of the difference between amount Government would have released to those MDAs based on appropriation and actual amount released and paid through IPPIS since payments are made directly to beneficiary accounts”