In a decisive move to tighten financial control and curb leakages, the Federal Government has ordered all Ministries, Departments, and Agencies (MDAs) to submit statements of their bank accounts held in commercial banks across the country.
The directive is part of renewed efforts to enforce total compliance with the Treasury Single Account (TSA) policy a fiscal reform initiative designed to consolidate government revenues into a single, transparent platform for efficient monitoring and accountability.
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According to reliable government sources, the Office of the Accountant-General of the Federation (OAGF) issued the order following reports that some MDAs still maintain multiple bank accounts outside the TSA system, contrary to existing financial regulations.
Under the new directive, each agency is expected to provide a comprehensive statement detailing all active and dormant accounts, ensuring full alignment with the TSA framework.
The Federal Government believes this renewed enforcement will enhance fiscal discipline, improve cash management, and prevent the diversion of public funds.
The TSA policy, first introduced in 2015, has been widely credited with saving Nigeria billions of naira by streamlining public sector banking operations and blocking revenue leakages.
With this latest crackdown, the government is sending a clear message that transparency and accountability in public finance remain non-negotiable priorities.