TSA: LCCI urges FG to protect MDAs’ incomes

The Lagos Chamber of Commerce and Industry (LCCI) has advised the federal government to put in place a framework that would ensure that the operations of income generating federal government’s ministries, agencies and departments (MDAs) are not crippled following the recent introduction of the Treasury Single Account (TSA).

The chamber gave the advice at the end of its council meeting in Lagos where it welcomed the TSA as desirable.

Although the chamber admitted the TSA would reduce leakages in government revenues, it feared incomes to enable MDAs function without hitch could be hampered if there was no safeguard.

“Evidence of this is beginning to manifest in some of the government agencies as the dayto-day operations of some of them are already being affected. Financial obligations to suppliers and contractors are not being met, for instance,” the chamber pointed out.

“It is, therefore, necessary for the federal government to ensure that funds for operations of agencies whose activities impact directly on the economy and citizens’ welfare are made available promptly, without compromising the ideals of the TSA,” it added.