Business
TSA Compliance: Group Wants ICPC To Probe MDAs
A non-profit initiative has urged the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to extend its ongoing probe of Ministries, Departments and Agencies (MDAs) to include their level of compliance to the Treasury Single Account (TSA).
The Africa Leadership Strategy and Transparency Development Initiative (ALSTDI) in a statement in Lagos yesterday by its Executive Director, Mr Nelson Ossaieze, also implored the Federal Government to explain its decision to transfer the burden of transacting with the TSA to the citizens.
This, ALSTDI said, was in line with international transparency best practices.
“It is indubitable that the implementation of the Treasury Single Account policy is one of the most significant achievements of the current Federal Government administration.
“This feat is despite the alleged non-compliance or partial compliance by certain MDAs and exclusion of foreign accounts from the scheme.
“Therefore, the need arises for the ICPC to openly investigate the level of adherence to the policy by MDAs in order to consolidate on the remarkable achievement of the policy thus far,” it said.
It noted that in November 2018, the Federal Government suddenly directed that the cost of operating the scheme should be transferred to the payers who were the citizens.
The group also said the change, according to the Accountant General of the Federation, was premised on the unsustainable nature of the cost of servicing the policy.
“Non-card payments to the government now attract a flat service charge of ¦ 157.50K and card payments now cost ¦ 150 plus 0.75 per cent of the amount being paid, subject to a maximum of ¦ 1,200 per transaction.
“Understandable as this appears, owing to the long-term impact on the nation’s economy, the lack of proper public sensitisation leaves much to be desired from the FG.
“Surprisingly, Nigerians are unaware of the policy change prior to the effective date.
“Reports indicate that the operators, like other players in the process, has this sudden reality forced on them.
“FG must bridge the inherent knowledge gap in the public space by embarking on a nationwide sensitisation campaign and highlight the long-term benefits rather than allow the current misinformation to linger,” it added.
ALSTDI, however said, it was aware that the current rate was lower than the global industry benchmark.
It also said that, the current economic realities of the country implied that such changes could not be made without proper and due consideration of the average Nigerian.
The body advised FG to assent the minimum wage bill, implement the 2009 agreement with the Academic Staff Union of Universities and other initiatives to significantly lessen the burden on Nigerians whilst sustaining the gains of the TSA.
It said: “Finally, we remain proud of the role played by the indigenous firms in delivering the TSA project in record-time when foreign companies can not deliver and for their patriotic successful sustenance of the TSA regime.
“SystemSpecs came to the rescue of the country when our economy was on the brink of a total collapse through its deployment of Remita to plug existing leakages in the public financial sector.
“Undeniably, SystemSpecs’ exceptional delivery of a project of national significance is proof of the maturation of indigenous firms hence must be celebrated and not vilified,” it added.
According to ALSTDI, FG is required to do more in promoting these firms and demystifying the TSA service charge will be a step in the right direction.
“In conclusion, as an African-focused Civilian Society Organisation, we entreat FG to make Nigeria proud.
“This can be by promoting and even exporting the TSA to other countries across the continent to promote probity and add to the ranks of TSA compliant nations like Rwanda and Uganda,” it added.
The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with a firm, Sweetcrude Ltd., has announced detailed selection criteria for the inaugural “Champions of Nigerian Content Awards”, designed to honor outstanding contributions to local content development in Nigeria’s oil and gas sector.
The Tide learnt that the event, scheduled to hold 21st May, 2025, at the NCDMB’S content tower headquarters in Yenagoa, capital of Bayelsa State, will recognize individuals and organizations that have demonstrated exceptional commitment to advancing Nigerian Content in 2024.
The Tide further gathered that the ceremony will coincide with the Nigerian Oil and Gas Opportunity Fair (NOGOF), which promises to spotlighting industry excellence and contributions to national economic transformation.
A statement by the Board’s Directorate of Corporate Communications and Zonal Coordination says the event has 12 Award Categories, which include, “Nigerian Content Icon of the Year”, “Nigerian Content Lifetime Achievement Award”, “Nigerian Content International Upstream Operator of the year”, and the “Nigerian Content Independent Upstream Operator of the year”.
Others are, “Nigerian Content Midstream Operator of the year”, “Nigerian Content Downstream Operator of the year”, “Nigerian Content International Service Company of the year”, Nigerian Content Indigenous Service Company of the year”, and the “Nigerian Content Innovator of the year”.
Also included are, “Nigerian Content Financial Services Provider of the year”, “Nigerian Content Media Organization of the year”, and “Women in Leadership Award for Promoting Gender Equality and Empowerment”.
According to the NCDMB, the criteria for oil and gas operators will include key and empirical benchmarks such as Production output for crude oil and gas volumes, Compliance with Nigerian Content Plans (NCPs) and Nigerian Content Compliance Certificates (NCCCs).
Other criteria are adherence to NOGICD Act reporting requirements, such as submission of Nigerian Content Performance Reports and Employment & Training Plans.
The Board’s statement added that similar criteria will apply to financial institutions, media organizations, and individuals, ensuring a transparent and merit-based selection process.
“Winners for the Nigerian Content Icon of the Year, Innovator of the Year, and Women in Leadership Award will also be selected based on measurable performance indicators.
“The Advisory Committee of Industry Titans will Oversee the process to uphold the prestige of awards. The Committee consist of distinguished experts set up to oversee nominations and validate winners”, the NCDMB said.
Members of the committee, according to the Board, include: Pioneer Executive Secretary of the NCDMB, Dr. Ernest Nwapa; Secretary-General, African Petroleum Producers Organization, Dr. Omar Farouk; and former Zonal Operations Controller, DPR, Mr. Woke Akinyosoye.
The Statement quoted the Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe, as emphasizing that the awards aim to becoming the oil and gas sector’s equivalent of the Oscars, celebrating genuine impact rather than mere participation.
“This recognition is reserved for those who have gone beyond compliance to drive tangible growth in Nigerian Content.
“With a focus on credibility, compliance, and measurable impact, the Champions of Nigerian Content Awards is poised to set a new standard for excellence in Nigeria’s energy sector”, the NCDMB Executive Scribe said.
By: Ariwera Ibibo-Howells, Yenagoa
Nigeria’s apex Banking institution, Central Bank of Nigeria (CBN), has declared that Federal Government’s debt servicing increased to N696billion in January 2025.
The CBN’s recently published Economic Report revealed a precarious fiscal position, which worsened in January 2025 as debt servicing obligations exceeded total retained revenue by a wide margin.
According to the report, the Federal Government’s debt servicing obligations for the month stood at N696.27bn, while total retained revenue amounted to only N483.47bn, indicating that debt service alone consumed about 144 per cent of all government earnings.
This development highlights the growing debt burden and dwindling fiscal space facing Africa’s largest economy.
According to the report, despite slight improvements in some revenue categories, the retained earnings were grossly inadequate to cover obligatory debt repayments, exposing the government’s continued reliance on borrowing to meet basic obligations.
The report further revealed that retained revenue in January 2025 only recorded a marginal 0.89 per cent increase when compared with the N479.21bn generated in the corresponding month of 2024.
”FGN retained revenue declined in the review period, owing largely to lower receipts from Federal Government Independent Revenue and FGN’s share of exchange gain.
“At N0.48tn, provisional FGN retained revenue was 69.19 and 70.40 per cent below the levels recorded in the preceding period and monthly target, respectively”, it revealed.
While this points to stagnation rather than growth, the marginal rise was wiped out by the overwhelming debt service obligations.
The retained revenue components showed that the Federation Account contributed N167.69bn, while the VAT Pool Account delivered N90.73bn.
By: Corlins Walter
The Federal Government has announced plans to commence the payment of the outstanding N35,000 wage award arrears owed workers in the Federal Civil Service.
A statement issued by the Office of the Accountant-General of the Federation (AGF), which was signed by the Director of Press and Public Relations, Bawa Mokwa, said the outstanding arrears will be paid in instalments, with workers set to receive N35,000 per month for five months.
It clarified that the first tranche of the wage award arrears would be released immediately after the April salary payment.
“The wage award arrears was not paid with the April 2025 salary; it will come immediately after the salary is paid”, the statement read.
The Federal Government had earlier disbursed wage awards to federal workers for five months as part of efforts to cushion the impact of economic reforms. However, five months’ arrears remained unpaid.
The AGF office further reiterated the government’s commitment to fully implementing all policies and agreements relating to staff remuneration and welfare, noting that such efforts were geared towards enhancing productivity and operational efficiency across ministries, departments, and agencies.
The N35,000 wage award was introduced in 2023 as a palliative measure to support workers following the removal of the petrol subsidy and other economic adjustments.
In January this year, the Federal Government assured workers that it would clear the arrears of the N35,000 wage award, just as it also said the government had resumed the payment of the wage award.
The government also reiterated its commitment to addressing issues in the National Minimum Wage agreement reached with the Organised Labour in 2023.
The Minister of Labour and Employment, Nkeiruka Onyejeocha, had disclosed the government’s commitment towards implementing agreements with trade unions during separate meetings with the leadership of the Trade Union Congress and Congress of University Academics, in Abuja.
The Nigeria Labour Congress had criticised the Federal Government over the delay in the payment of the minimum wage for certain workers in the federal civil service.
Also, the Federal Government had earlier blamed the delay in payment on the prolonged approval of the 2025 budget.
By: Corlins Walter
-
Niger Delta7 hours agoPolice Arrest 95 Cultists, Recover Firearms In Benin Raids
-
Politics19 mins ago
Why Legislature’s Still Executive’s Appendage In Nigeria – State Lawnaker
-
Sports7 hours agoPRIVATE SECTOR IS KEY TO GRASSROOTS SPORTS DEVELOPMENT – NSC Chairman
-
News7 hours agoNSCDC, Navy, Army uncover illegal refinery in Anambra
-
Opinion26 mins agoNigeria’s Insecurity And Co-Existence
-
Sports7 hours agoBrighton Whip Wolves 2-0
-
Business17 mins ago
FG Bans Waivers For Threaded Pipes
-
Sports7 hours ago22nd NSF: Ogun State Gov. Vows To Set benchmark