Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, on Thursday announced that the amount in the Treasury Single Account had risen to N2.9tn.
Contrary to a general impression, she said the money in the TSA was not meant to fund the budget but that it belonged to different agencies of government, which had the right to access the funds.
Her explanation was against suggestions by the legislators that the Federal Government should use the TSA to fund the 2016 budget amidst liquidity problem arising from the slump in global crude oil prices.
Adeosun said all the Ministries, Departments and Agencies of the government had their monies transferred into the TSA and should have access to them.
She said that the government had commenced the training of its personnel on the operation of the TSA such that any agency of government that needed its share of the funds in the account would not find it difficult accessing it.
She said this while addressing the Joint Appropriation Committees of the National Assembly with government officials on the 2016 budget.
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