The Federal Government has ordered all Ministries, Departments, and Agencies (MDAs) operating in states to close their accounts with commercial banks, in line with the Treasury Single Account (TSA) policy.
This directive, issued by the Accountant General of the Federation, Dr. Oluwatoyin Madein, was announced on Thursday through a statement released by the Director of Press and Public Relations at the Office of the Accountant-General, Bawa Mokwa.
Dr. Madein, during a working visit to the Federal Pay Office (FPO) in Benin, Edo State, emphasized that all federal MDAs must fully comply with the TSA framework and refrain from bypassing public financial management reforms.
Madein reiterated that no federal MDA should maintain accounts with commercial banks unless explicitly approved by the President and communicated by her office. She urged Federal Pay Officers to ensure strict adherence to this policy, warning that any violations would be met with consequences.
“The Federal Government is committed to upholding the principles of the Treasury Single Account,” Madein said. “It is imperative that all MDAs in states comply with this directive, and any request to operate an account with a commercial bank must go through due approval from the President, following the established rules and guidelines.”
The Accountant-General also tasked Federal Pay Officers with maintaining transparency, accountability, and professionalism in their operations. She highlighted the importance of accurate financial records and periodic checks by Treasury officials to ensure compliance with regulatory standards.
In response to infrastructure challenges, Madein also revealed that the Federal Government is building new Federal Pay Offices in various states to enhance operational efficiency. She assured that the Office of the Accountant-General of the Federation (OAGF) would continue to prioritize the welfare of its personnel and enforce compliance with key financial regulations, including the Public Procurement Act.
Madein’s visit to the Benin office was part of a nationwide tour to assess the operations of Federal Pay Offices and address any challenges they face in implementing government financial policies.
