21.4 C

FG Dismisses Fraud Claims in TSA Funds



1min read


The federal government on Monday dismissed allegations of fraud in the management of the Treasury Single Account , TSA, and diversion of funds by the All Progressive Congress, APC – led federal government to bankroll elections in Bayelsa and Kogi.

The Minister of Information and Culture, Lai Mohammed, in a statement by his special adviser on Media, Segun Adeyemi, in Abuja on Monday described the allegation as a contrived distraction.

Mohammed said if those behind the accusations are honest, they would have realised that there could be no such impunity under President Muhammadu Buhari’s administration.

“It is understandable that the psyche of those who are making the frivolous allegations concerning the TSA has been badly affected by the impunity that permeated the country under the immediate past administration,” Mohammed stated.

But he contended that “the lies that have been willfully disseminated by scandal mongers over the TSA cannot and will not fly.”

The minister, who assured Nigerians that no one had tampered with the TSA funds, said the payment system had begun to enjoy a new lease of life and attract national attention because of the political will and transparency demonstrated by President Buhari.

- Advertisement -

“Those behind the rumour that a single company made N25 billion from charging one per cent of TSA funds that passed through the company’s software may need to return to elementary school to get some lessons in arithmetic,” the minister said.

Explaining this, Mohammed said that “in order for one per cent charge to fetch N25 billion, the funds accruing into the TSA must have reached N2.5 trillion” but noted that “the total amount of funds in the TSA to date is still much less than 2 trillion.”

“More importantly, at the time the Governor of the Central Bank of Nigeria, CBN, ordered that all monies that were erroneously charged as ‘revenue’ be returned to the TSA Account late last month, the TSA had less than N800 billion.

The minister appealed to Nigerians not to allow those who had been funding their lavish lifestyles and encouraging corruption, to the detriment of ordinary citizens and without bothering about national interest to hoodwink them.

Support the ICIR

We need your support to produce excellent
journalism at all times.

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.



Drug importation: I uncovered N13.42m in defendant’s account – Witness

A witness in the alleged drug importation case instituted by the Nigerian Drug Law...

Police confirm kidnap of commissioner in Bayelsa

THE Police in Bayelsa have confirmed the kidnap of Bayelsa State Commissioner for Industry,...

I have been blocked from seeing Buhari, says Ortom

BENUE State Governor Samuel Ortom has revealed that he has been blocked from seeing...

SND opens application for News Design Creative Competition.

THE Society for News Design (SND) is accepting entries for its Best of News Design...

Don’t send me back to school, they will kill me, Elkenemy College student writes parents

By: Hamza SULEIMAN JUBRIL Sadi Mato (Ramadan), an 11-year-old JSS 1 Student of Elkenemy College...

Most Read


Subscribe to our newsletter