TSA: LCCI urges FG to pro­tect MDAs’ in­comes

Daily Trust - - BUSINESS - From Mo­hammed Shosanya, La­gos

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.

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