Reps query non audit of TSA account after two years - Full Gist News


Thursday, 17 August 2017

Reps query non audit of TSA account after two years

The House of Representatives yesterday expressed strong reservations that 24 months down the line, the nation's Treasury Single Account TSA is yet to be audited.

The Chairman HSE Ad-Hoc Committee on TSA, Rep Abubakar Nuhu stated this during an interactive session with stakeholders in the operation of the Account in Abuja.

Speaking to stakeholders made up of the Accountant General of the Federation, Auditor-General of the Federation, the Central Bank of Nigeria (CBN), System Specs and the various commercial banks, Nuhu said that the non-audit of such a powerful accounting instrument as the TSA since inception of 2 years ago, negates the principles of accountability.

Responding, the Auditor-General of the Federation, Anthony Ayine who assumed office five months ago agreed that the development was indeed unhealthy, adding that just three years ago, he directed that a performance audit that will serve as a prelude to a forensic audit on the TSA be carried out by his staff.

"We are yet to do an audit of the TSA directly. What we have been doing is audit of the consolidated revenue account of the federation, which is done in every 12 months.

"When I came in and discovered that, I discussed with my directors that we should be able to do an audit of TSA for transparency and accountability. So, about three weeks ago, I asked the performance team to carry out a performance audit of TSA," he said.

When a member of the committee, Aliyu Magaji Da'u (APC, Jigawa) demanded the auditor general's opinion on the lack of audit, he said "I think there was an omission. It can't be said to be negligence, because the TSA is still an ongoing programme."

When pressed further on the matter, Ayene said "I think it is not right that we're yet to audit TSA."

The lawmakers sought to know when the performance audit would be completed, which a director from the auditor general's office said it would take a minimum of three months and a maximum of six months.

The committee chairman, Abubakar Danburam Nuhu (APC, Kano), therefore ruled that the auditor general should submit the report in November.

Also speaking during the session, a representative of the Accountant General of the Federation, Alexander Adeyemi, told the lawmakers that they got a presidential directive to use the TSA fund for treasury bill investment.

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