TSA: Buhari must account for ‘hidden’ N50Bn- ADP 

The Action Democratic Party (ADP) has demanded for proper accountability from President Muhammadu Buhari, on the alleged sum of N50b said to have been discovered in secret accounts contrary to the idea behind the Treasury Singke Account (TSA).

A statement signed on Friday in Lagos by the ADP National Publicity Secretary, Prince Adelaja Adeoye, said it took the intervention of an ad hoc committee of the National Assembly chaired by Hon. Abubakar Danburam-Nuhu from Kano State to discover the said “huge fraud allegedly approved by the president.

“We have gathered that this directive was implemented by the NNPC GMD, Mr. Baru, to have some commercial banks keep money generated from oil revenue accounts outside the TSA. This is in breach of the TSA policy, which provides that all revenues from Ministries, Departments and Agencies of government should be transferred to the TSA.

“The said approval was a memo written by the chief of staff to president Buhari, Mr. Abba Kyari, authorizing the NNPC to exclude the said sum from the TSA. Our party is shocked by this unbelievable development.

“Nigerians will recall that the same president moved against our tertiary institutions, ordering them to comply strictly with the TSA policy. We are yet to rationalize the reason for this exclusion or would it be safe to say that the president and his party have started stacking funds to be used for the 2019 general elections?

“We are demanding that president Buhari explain to Nigerians why he gave such an order and for what purpose. It is again shocking that the president repeatedly disregard rules whenever it pleases him, it must be said that a distortion of processes is a serious aspect of corruption.

“The TSA was created to mitigate revenue leakages, but we wonder where all the noise of fighting corruption is coming from, when the evidence points to the contrary. We have also not forgotten the fact that several members of the president’s cabinet such as Babachir Lawal and others are still walking free despite the allegations of corruption running into hundreds of millions still hanging on their necks.”

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