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Reps probe exclusion of $4.9 million, N1bn from TSA

The House of Representatives’ Ad-hoc Committee investigating the status of Treasury Single Account (TSA) on Tuesday placed on further inquiry two accounts in which $4.9 million and about N1 billion were domiciled in breach of TSA policy.
Abubakar Nuhu Danburam, chairman and members of the Ad-hoc Committee insisted on sighting President Muhammadu Buhari’s approval (memo) which Abba Kyari, Chief of Staff to the President acted on.
The lawmakers had during the previous hearing requested for similar approval granted by the President to exclude Nigeria National Petroleum Corporation (NNPC) from TSA.
Speaking earlier, Managing Director of Stanbic IBTC Bank, Demola Sogunle explained that the bank obtained a presidential approval which was conveyed to them via a letter signed by the Chief of Staff to the President.
In response to the inquiry by the Ad-hoc Committee, Sogunle, explained that the bank does not have any other document personally signed by the President.
To this end, the Ad-hoc Committee issued one week ultimatum to the Managing Director of Stanbic IBTC Bank, to produce the evidence.
Meanwhile, the Ad-hoc Committee threatened to issue a warrant of arrest against the Managing Director of First Bank Nigeria, Adesola Adeduntan, for failing to honour its several invitations to respond to issues bothering on various TSA accounts operated with the bank.
To this end, the lawmakers mandated the Managing Director of First Bank Nigeria, to appear before next Tuesday .
The aggrieved lawmakers who cited relevant sections of the 1999 Constitution (as amended) noted that the House and any of its Committees were granted the powers to summon any person in the country as well as investigate anomalies with a view to encouraging good governance and exposing waste.
The post Reps probe exclusion of $4.9 million, N1bn from TSA appeared first on BusinessDay : News you can trust .

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