New Telegraph

NSA: Treasury Single Account blocked N4bn bank charges

The National Security Adviser (NSA), Maj- Gen. Babagana Monguno (rtd), has said that at least N4 billion charges were blocked through the instrumentality of the Treasury Single Account (TSA). A statement on Friday by the spokesperson for the ICPC, Mrs. Azuka Ogugua, said Monguno spoke at the National Policy Dialogue on Corruption and Insecurity in Nigeria.

She said the NSA reiterated the fact that insecurity has taken a toll on governance and public financing as a result of corruption in the security sector. This was as the security adviser explained that government’s interventions through the Treasury Single Account (TSA) and the Bank Verification Number (BVN) has drastically reduced corruption in the public sector. “The current implementation of TSA in all MDAs of federal government has resulted in the consolidation of more than 17000 bank accounts leading to the saving of N4 billion in bank charges. ‘‘Furthermore, the functions and integration of IPPIS and BVN has led to the discovery of 54000 fraudulent payrolls in the pension scheme,” said the NSA.

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