The Federal Government has mandated all Ministries, Departments, and Agencies (MDAs) operating at the state level to cease maintaining accounts with commercial banks, reinforcing compliance with the Treasury Single Account (TSA) policy.
This was according to a press statement released on Thursday by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa.
The statement noted that the Accountant-General of the Federation, Dr Oluwatoyin Madein, gave the directive during a working visit to the Federal Pay Office in Benin, Edo State.
She stressed that all federal MDAs in the states must comply with public financial management reforms and refrain from bypassing the TSA framework.
Madein charged Federal Pay Officers with ensuring strict adherence to the policy, warning that no MDA should operate accounts with commercial banks unless expressly approved by the President and communicated by the Office of the Accountant-General of the Federation.
The statement read, “While reiterating the Federal Government’s commitment to the Treasury Single Account policy, the Accountant General of the Federation urged the Federal Pay Officers to monitor and ensure that Ministries, Departments and Agencies in the States do not operate any account with the commercial banks or circumvent any provision of the TSA policy.
“She explained that due approval must be given by the President and communicated by the Accountant General of the Federation, based on certain rules and guidelines, before Ministries, Departments and Agencies can operate any account with commercial banks.”
She also tasked FPOs with upholding transparency, professionalism, and accountability in their duties, urging them to avoid actions that could damage the reputation of the Federal Treasury.
Madein emphasised the importance of maintaining accurate financial records in line with regulatory standards, noting that officials from the Treasury headquarters would continue to conduct periodic checks.
She disclosed that the Federal Government is constructing new Federal Pay Offices in some states to address infrastructure and operational challenges.
She assured that the OAGF would continue to prioritise the welfare of its personnel while ensuring compliance with financial regulations, including the Public Procurement Act and the Constitution.
The visit to the Benin Federal Pay Office was part of Madein’s nationwide tour to assess the operations and challenges of Federal Pay Offices across the country.
