Buhari: TSA existed only as idea under Jonathan

Reading Time: 2 minutes


President Muhammadu Buhari has said the Treasury Single Account only existed as an idea under the Goodluck Jonathan administration instead of using it to block financial leakages.

President Buhari who disclosed this in Abuja on Monday at the opening ceremony of the Open Government Partnership [OGP] week also said some officials of the previous administration cornered Nigeria’s resources for the use of themselves and their immediate families.

’We inherited a Treasury Single Account (TSA) system that existed mainly as an idea, without the appetite for serious implementation’’, he said.

This administration, he added, has made remarkable progress in expanding the reach of the TSA, ‘’so that today, we are almost at 100 percent compliance.’’

Represented by Vice President Yemi Osinbajo, the President said his administration had used TSA to save trillions of naira which would have gone into private pockets of corrupt officials.

He said the administration came to office on the back of a three-pronged agenda: Ensuring Security, Rebuilding the Economy, and vigorously prosecuting the fight against corruption.

‘’This last issue, Corruption, has been an existential issue for Nigeria, threatening the very foundation of our existence. It has ensured that, for too long, the resources meant for the majority have been sadly cornered by a greedy minority’, he said.

The corruption underlines every aspect of our national life, from our security situation to the state of our economy, adding that it was the reason why, in spite of record oil revenues between 2011 and 2013/14, ‘’we saw no savings, and very little investment in infrastructure and jobs, and, in spite of the billions of dollars reportedly invested in security, the Boko Haram insurgency did not abate.’’

He said the administration had adopted two-step approach to dealing with corruption.

The first, he said is to stop grand corruption and the accompanying impunity and the second step and the more enduring one is creating a self- sustaining system that assures transparency and accountability.

‘’We have, since we assumed office three  years ago, made remarkable progress in pushing the frontiers of transparency and accountability in the Federal Government’’, he said.

Meanwhile, the United Kingdom ministers have approved £12 million (about N5.86 billion) for Nigeria to deepen and implement open government reforms.

The British High Commissioner to Nigeria Mr. Paul Arkwright said this in a goodwill message at the opening ceremony of the Open Government Partnership (OGP) Week 2018 in Abuja.

“The UK ministers have just approved a new funding stream of £12 million for priorities like Nigeria to deepen and implement open government reform commitments,” Mr. Arkwright said.

The envoy said the UK would continue to lead by example on this agenda and will also continue to improve the quality of its own evidence and data as well as demand high standards from its partners.

“As we move to the 2019 elections we want to encourage transparency around the process so that Nigerians will be confident that the results are credible and reflect the will of the people,” he said

He added that Britain will continue to offer assistance and support but Nigeria must be awake.


Leave a Reply

%d bloggers like this: