TSA Probe: Reps uncover N1.5bn, $4.9m lodged in commercial bank

Posted by Kehinde Akintola, Abuja | 26 July 2018 | 1,173 times

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•Hon. Nuhu Danburam

The Ad-hoc committee probing the status and management of the Treasury Single Account (TSA) on Wednesday summoned Ibrahim Jibril, Minister of Environment, over the lodgment of $4.9 million and N1.5 billion in an undisclosed commercial bank without President Muhammadu Buhari’s approval.

Nuhu Danburam, chairman of the Ad-hoc Committee who issued the directive, stressed the need for the accounting officer of Federal Ministry of environment to explain why such an account should be maintained in breach of the TSA policy.

The committee observed that the sum of N1.5 billion was deposited in the bank since March 2017 and additional sum of $4.9 million domiciled into a domiciliary account.

Danburam who frowned at the development queried why such large deposits were made into the commercial bank without the president’s approval.

The Ad-hoc Committee which acknowledged receipt of a letter signed by Chief of Staff to President, Abba Kyari for the Ministry’s action, however, refused to admit the letter.

One of the bank’s representatives who spoke at the investigative public hearing, admitted that the bank erred particularly when the money in the account did not generate any interest and withdrawn down to about N400 billion.

“We listen to customers and what they tell us is exactly what we do, and in this direction, I know we erred,” he said.

•Culled from a BusinessDay report

Source: News Express

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