No MDA should maintain account with commercial banks, AGF warns

The Accountant-General of the Federation (AGF), Dr (Mrs) Oluwatoyin Madein, has issued a directive to all Federal Pay Officers (FPOs) across Nigeria, mandating them to rigorously monitor Federal Ministries, Departments and Agencies (MDAs) within their jurisdictions to ensure strict adherence to the Treasury Single Account (TSA) policy. Dr Madein, in a statement released by the […]

The Accountant-General of the Federation (AGF), Dr (Mrs) Oluwatoyin Madein, has issued a directive to all Federal Pay Officers (FPOs) across Nigeria, mandating them to rigorously monitor Federal Ministries, Departments and Agencies (MDAs) within their jurisdictions to ensure strict adherence to the Treasury Single Account (TSA) policy.

Dr Madein, in a statement released by the Office of the Accountant General of the Federation (OAGF) signed by its Director of Press and Public Relations, Bawa Mokwa, emphasised the crucial role of FPOs in enforcing TSA compliance.

According to her, “MDAs are strictly prohibited from operating accounts with commercial banks without express presidential approval, which must be formally communicated by the AGF and adhere to established rules and guidelines.

“This directive shows the federal government’s unwavering commitment to the TSA and its broader public financial management reform initiatives,” she warned.

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Madein also emphasized the meticulous maintenance of accurate, presentable, and compliant financial records. “No matter how good you are, if your record doesn’t show this, it would be difficult to adjudge that you are efficient,” she advised the FPOs.

She also announced that regular record checks would be conducted by officials from the Treasury headquarters.