President Muhammadu Buhari has disclosed that the Treasury Single Account, TSA, was an initiative of the Goodluck Jonathan administration, but the immediate past government could not enforce it.
Buhari, who disclosed this during an interactive session with Nigerians living in the United Kingdom on the sidelines of the Supporting Syria Conference in London, stated that his administration had been able to block leakages and save N2. 2trn using the same TSA.
According to him, “When we discovered that we were already in trouble, we tried to enforce the TSA. This government did not initiate it, it was the previous government, but it was so unpopular to the previous government.
“For its own reasons, it couldn’t impose it, but when we came and we found out that we were broke, we saw that this is the way to do it.
“We discovered that the NNPC had more than 45 accounts, the ministry of defence and the military had more than 70 accounts; tell me which of the accounts to trace every year.
“So we enforced TSA, we said there must be TSA, and let me tell you by the end of December coming to January this year, last month, we mopped up more than N2.2 trillion.”