FG bars CBN, PTF from unbudgeted spending of COVID-19 donations

Posted by News Express | 6 May 2020 | 641 times

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•CBN Headquarters

By SANYA ADEJOKUN, Abuja

The Federal Government on Tuesday issued guidelines on the management of all COVID-19 special funds and donations.

In a statement issued by Office of the Accountant General of the Federation, all funds related to COVID-19 must pass through the Treasury Single Account (TSA) and must not be spent unless the National Assembly appropriates it accordingly.

It warned that any participating MDA that contravenes the guideline may be sanctioned from continued participation in the programme while their names and their principal officers shall be made public as additional measure of transparency.

As part of the promises made to International Monetary Fund (IMF) while applying for $3.4 billion loan, government said it would ensure full transparency in the disbursement of funds it got relating to the effects of COVID-19 pandemic.

The statement said: “TSA Sub Account in commercial banks are to be used for the purposes of receiving COVID-19 donations only.

“On no account shall any other fund of Federal Government Ministries, Departments and Agencies (MDA) be deposited into the accounts or any other account in commercial banks.

“All other government accounts are to be maintained at the Central Bank of Nigeria (CBN) in line with the Presidential directive on TSA, the TSA Guidelines and related extant circulars.

VDO.AI

“Failure to sweep all balances within 24 hours shall be deemed a violation of the Presidential directive on TSA which shall attract sanctions.”

It explained that funds are to be appropriated directly to participating MDA and spending units like Ministry of Health, Ministry of Humanitarian Affairs, Nigerian Centre for Disease Control, among others, rather than to an intermediary agency like the Presidential Task Force (PTF) while administrative cost of the PTF shall be appropriated separately to the PTF Secretariat.

“In all cases, extant laws, rules and regulations including those relating to Public Procurement Act (subject to the guidance of the Bureau for Public Procurement) shall apply,” it said.

It added that “OAGF shall publish a Daily Treasury Statement for COVID-19 Fund outlining all the inflows into the fund and all the outflows. The inflow information shall indicate the source of the funds while the outflow information shall indicate the MDA responsible for each payment out of the fund.

“Each participating MDA shall publish a Daily Payment Report indicating the beneficiary, purpose of the payment and the amount for any payment above N5 million made out of the COVID-19 fund,” it added. (Nigerian Tribune)


Source: News Express

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