Garba Shehu, the spokesperson to former Muhammadu Buhari, says his principal saved Nigeria an average of N4 billion that would have been spent on monthly bank charges by implementing a Treasury Single Account.
Shehu disclosed this on Thursday in a statement on his official X, formerly Twitter, to mark 100 days Buhari left office as President.
According to him, introducing TSA helped the Buhari administration block financial linkages.
He noted that over 17,000 bank accounts belonging to government agencies and parastatals were closed to provide accountability in governance.
In addition, the government introduced the Integrated Personnel and Payroll System, IPPS, to cover all MDAs.
“On coming to office, the administration directed all Ministries, Departments and Agencies (MDAs) to close their accounts with deposit money banks to fully operationalize the Treasury Single Account.
“TSA was launched in 2012 but left on the drawing boards. Over 17,000 bank accounts were closed, and an average of four billion Naira in monthly bank charges was saved,” he said.
Recall that Buhari’s administration started the implementation of TSA in 2015.