Nigerian Government Used N16bn As TSA Transaction Costs  - AGF
File: Wads of naira notes

The Accountant-General of the Federation Ahmed Idris has said the Federal Government used N16bn as transaction costs on the Treasury Single Account (TSA).

Idris said this on Sunday in a statement where he added that the Federal Government had been bearing the cost of transmission of funds into the TSA.

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“Within the last two years, the government spent almost N16bn in this direction which ordinarily should be borne by those making payments,” the statement said.

“So, it is time for Nigerians to pay for the services that they receive and the government will take whatever is due to it without necessarily incurring cost.

“In the old tariff regime, the Federal Government bore the charges on all transactions to the service providers on behalf of payers.’’

It added that “By negotiable, I mean by the introduction of more players in the market, definitely the charges will come down from whatever they are now, but right now discussions are going on to make the charges as minimal as possible.

“We are liberalising the market and it has to be a level playing field for all operators to operate and that is what will happen.”