Posted on: 09:29 Tue, 17 Nov 2015



Minister of Information and Culture,
Lai Mohammed has suggested that
Governor Ayodele Fayose of Ekiti
and others kicking against President
Muhammadu Buhari’s Treasury
Single Account policy should return
to elementary because they have
failed to understand the workings of
the policy.

“Those behind the rumour that a
single company made N25 billion
from charging one per cent of TSA
funds that passed through the
company’s software, may need to
return to elementary school to get
some lessons in arithmetic,” he said
in a statement issued by his Special
Adviser on Media, Mr Segun
Adeyemi, in Abuja, Nigeria’s capital.

“This is because in order for one per
cent charge to fetch N25 billion, the
funds accruing into the TSA must
have reached N2.5 trillion.
Yet, the total amount of funds in the
TSA to date is still much less than 2
trillion.

“More importantly, at the time the
Governor of the Central Bank of
Nigeria (CBN) ordered that all
monies that were erroneously
charged as ‘revenue’ be returned to
the TSA Account late last month, the
TSA had less than N800 billion.

“It therefore beggars belief that
anyone could attempt to mislead the
public by raising a false alarm that a
firm made N25 billion in TSA
charges.”

Mohammed appealed to Nigerians
not to allow those who had been
funding their lavish lifestyles and
encouraging corruption, to the
detriment of ordinary citizens and
without bothering about national
interest.

He said the accusation was to
sabotage the laudable TSA
programme with contrived lies,
dangerous innuendoes and
misinformation.

It would be recalled that Fayose , in
a statement on Sunday, declared that
he would not be part of the meeting
the Federal Government was to hold
with state governors on the TSA
because the policy itself was a fraud
against Nigeria and its people as it is
aimed at recouping money spent on
the last general elections by the APC,
as well as raise money for future
elections, especially the Kogi and
Bayelsa States gubernatorial poll.

Fayose also asked the Federal
Government to expose those behind
REMITA so that Nigerians would
know those “through whom the All
Progressives Congress, APC, is
siphoning Nigerian money to fund
Kogi and Bayelsa States governorship
election.”

He added that System Specs the
company that manages TSA made
N25 billion.

Source: PMNews