TSA will soon cover foreign accounts ― FG
Federal Government said it was working towards implementing the Treasury Single Account (TSA) to cover foreign accounts.
The Minister for Finance, Hajia Zainab Amed, made this disclosure, Tuesday at a budget defence session with key revenue generating Ministries, Departments and Agencies (MDAs) organised by the House of Representatives joint committee on finance, appropriation, aids, loans and debt management under the Chairmanship of Hon. Babangida Ibrahim.
“We are working now to implement the TSA to cover foreign accounts operated by government agencies in order to broaden the net and minimise leakages,” Zainab said.
The Minister in company of top officials of the Ministry, explained that the federal government had evolved a new revenue strategic growth agenda developed by her ministry to ensure a sustainable revenue flow system.
“We have identified new revenue streams and we’re working to tap into them. Especially, the identification of new taxes for which we are working with the FIRS to bring that to fruition. Of course with an amendment to relevant tax laws,” Zainab said.
Zainab assured that her Ministry was doing everything possible to ensure that all revenues due for the Federal government were adequately captured and remitted accordingly.