Yemisi Izuora
President Muhammadu Buhari has given approval for the opening of five COVID-19 Donor Accounts; which form part of the existing Treasury Single Account (TSA) arrangement in five commercial banks.
This was disclosed by Mr. Henshaw Ogubike, Director Information and Press, Office of the Accountant General of the Federation in a statement in Abuja on Tuesday.
Ogubike disclosed that the approved banks were Zenith Bank, Access Bank, Guarantee Trust Bank, UBA and First Bank.
He explained that the framework covered all public funds allocated and dedicated to the fight against COVID-19; including the Fiscal Stimulus Package as well as all donations by corporate bodies and individuals to the Federal Government; towards the fight against COVID-19 and the mitigation of its social and economic effects on citizens.
He said this directive also included donations under the Private Sector Coalition Against COVID-19 (CACOVID) Fund; domiciled at the Central Bank of Nigeria (CBN).
Meanwhile, the Nigeria Private Sector Coalition Against COVID-19 (CACOVID), as of April 23, had realised about N27,160 billion.
Ogubike stated that the Federal Government recognises citizens’ expectation that these resources be prudently applied towards the fight against COVID-19.
“In accordance with citizens’ expectations, government is committed to managing these funds with the highest sense of transparency and integrity. This framework is therefore designed to articulate the measures put in place by government; for the transparent and accountable management of COVID-19 Donor Funds as an expression of its commitment towards bridging the trust gap.
“The TSA Sub Account in commercial banks are to be used for the purposes of receiving COVID-19 donations only. On no account shall any other fund of Federal Government Ministries, Departments and Agencies (MDA) be deposited into the accounts; or any other account in commercial banks.