The Federal Government has directed all Ministries, Departments, and Agencies (MDAs) to submit detailed statements of their commercial bank accounts as part of a renewed push to enforce the Treasury Single Account (TSA) policy. The directive, issued by the Accountant-General of the Federation, Shamsedeen Ogunjimi, in a memo dated October 21, 2025, aims to curb financial indiscipline and ensure compliance with the TSA framework, which mandates that all federal revenues be consolidated in accounts held at the Central Bank of Nigeria.
Ogunjimi expressed frustration over MDAs’ continued use of commercial bank accounts, despite a February 2025 directive to close such accounts. The memo obtained, requires directors and heads of finance in MDAs and federal enterprises to provide six months’ worth of statements for all active, dormant, and closed commercial bank accounts, including account names, numbers, bank branches, and current balances. “This directive is effective immediately and must be treated with urgency to strengthen fiscal discipline and uphold the TSA’s integrity,” Ogunjimi stated.
The move follows reports of persistent violations of the TSA policy, which was designed to enhance transparency and accountability in government finances. In February, the Office of the Secretary to the Government of the Federation had reiterated the ban on commercial bank accounts, tasking Federal Pay Officers with ensuring compliance and preventing any circumvention of the TSA framework. The latest order underscores the government’s determination to clamp down on non-compliance and reinforce centralized financial management.
