Home / FINANCE / How N25bn is embezzled daily via Buhari’s TSA – Dino Melaye

How N25bn is embezzled daily via Buhari’s TSA – Dino Melaye

Senator representing Kogi West, Dino Melaye on Tuesday, raised an alarm over a massive corruption operation going on in the management of the Treasury Single Account, TSA.

Melaye who made this known in the floor of the House said “financial scavengers and economic cankerworms” ‎were trying to sabotage the anti-corruption war President Muhammadu Buhari was believed to be prosecuting by mismanaging the TSA.

He further alleged that a firm, “Remitter,” hired to manage the TSA, was making N25bn in one day in mopping up‎ about N2.5trn on the loose.

Melaye further asked the Senate to give him an opportunity to present a motion on the matter on Wednesday, November 11.

Senate President, Bukola Saraki subjected his request to a voice vote and the “ayes” had it.‎

Buhari had in August ordered the full implementation of the TSA with all Ministries, Departments and Agencies, MDAs,directed to cue in and Initial compliance gave the federal government access to N1.5trn.

Amidst controversial reports of exemptions for some MDAs, Vice President, Yemi Osinbajo, and the Central Bank of Nigeria, CBN, urged all the MDAs to ensure strict compliance with the directive to avoid sanctions.‎

While the TSA is seen by many as a beautiful initiative to curb corruption, recent revelations point to it being a way for corrupt individuals in the Government of the day to massively siphon public funds.

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