The Chartered Institute of Treasury Management (CITM) has warned that the backend of the Treasury Single Account (TSA) policy of the federal government is not secured, and prone to leakages of funds.
Registrar of the CITM, Olumide Adedoyin who revealed this while briefing journalists at the national assembly in Abuja, said the first step the government was supposed to take was to cash pulling — call up your resources from every bank into one single account.
Adedoyin said the institute has reached out to the government through several means on the need to correct the loopholes in the TSA, adding that “there must be an orientation of the continuous training and retraining of individuals.
Adedoyin’s position is coming a month after Hayatu Ahmed, chief superintendent of the Economic and Financial Crimes Commission (EFCC), explained how Ahmed Idris, suspended accountant-general of the federation, diverted public funds by compromising government account systems.
According to him, the systems include the TSA, the government integrated financial management information system (GIFMIS) and the integrated payroll and personnel information system (IPPIS).
“They receive on your behalf, but you cannot disburse from those banks while at the end of the day, you just have an online real-time balance to make sure that what comes in is being accounted for. That was supposed to be the function.
