TSA will soon cover foreign accounts - Finance minister
- The minister of finance, Hajia Zainab Ahmed, said the federal government's foreign accounts will soon be covered by TSA
- Ahmed said the move is to broaden the TSA and ensure that leakages are minimised
- The minister also gave assurance that her ministry was doing everything possible to ensure that all revenues due FG were captured and fully remitted
The federal government on Tuesday, April 2, has disclosed work is ongoing towards extending the Treasury Single Account (TSA) to cover foreign accounts.
The minister of finance, Hajia Zainab Ahmed, made this known at a budget defence session with key revenue generating ministries, departments and agencies (MDAs) organised by the House of Representatives joint committee on finance, appropriation, aids, loans and debt management under the chairmanship of Hon. Babangida Ibrahim, Nigerian Tribune reports.
“We are working now to implement the TSA to cover foreign accounts operated by government agencies in order to broaden the net and minimise leakages,” the finance minister said.
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She added that the federal government had evolved a new revenue strategic growth agenda developed by her ministry to ensure a sustainable revenue flow system.
She said: “We have identified new revenue streams and we’re working to tap into them, especially the identification of new taxes for which we are working with the FIRS to bring that to fruition, of course with an amendment to relevant tax laws.”
She gave assurance that her ministry was doing everything possible to ensure that all revenues due to the federal government were adequately captured and remitted accordingly.
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Meanwhile, Legit.ng previously reported that the Senate on Tuesday, April 2, said that all preparations to pass the N8.83 trillion 2019 budget proposed by President Muhammadu Buhari in December, 2018 are to be concluded soonest.
Bukola Saraki, the Senate president, revealed that the passing of the said budget will be done on Tuesday, April 16.
Saraki also said all committees that have not submitted their budget defence reports to the appropriation committee should do so soon including the appropriation committee headed by Senator Mohammed Danjuma Goje.
The chamber adjourned its plenary to Tuesday, April 9, in order to give all committees time to round up its work on the budget.
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Source: Legit.ng
