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FG directs MDAs in states to stop operating accounts with commercial banks

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The federal government has directed Federal Pay Officers (FPOs) across the country to ensure that Ministries, Departments, and Agencies (MDAs) in the states strictly comply with the Treasury Single Account (TSA) policy by not operating accounts with commercial banks or circumventing its provisions.

The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, issued this directive during a working visit to the Federal Pay Office in Benin, Edo State, as part of her ongoing nationwide tour to assess the operations and challenges of FPOs.

A statement from the Office of the Accountant General of the Federation (OAGF), signed by the Director of Press and Public Relations, Bawa Mokwa, said that MDAs must adhere strictly to the TSA framework. 

Dr. Madein reiterated that any MDA seeking to operate an account with a commercial bank must obtain direct approval from the President, which must be communicated through the AGF based on established guidelines.

To enforce compliance, she mandated FPOs to uphold transparency, dedication, and professionalism in their duties. As representatives of the OAGF, she urged them to maintain high ethical standards and avoid any actions that could undermine the credibility of the Federal Treasury.

Dr. Madein also stressed the importance of accurate financial records, warning that inefficiency could be perceived if records do not meet the required standards. She assured that officials from the Treasury headquarters would conduct regular inspections of FPOs to ensure compliance.

Additionally, she stressed the need for FPOs to be well-versed in financial regulations, including the Constitution, Financial Regulations, and the Public Procurement Act, to enhance their effectiveness.

Recognizing the operational challenges faced by FPOs, Dr. Madein disclosed that the federal government is constructing new office buildings in some states to provide permanent solutions to accommodation issues. She reaffirmed the OAGF’s commitment to prioritizing the welfare and well-being of FPO staff.

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NMDPRA, EFCC Storm Illegal Chinese Refinery in Ogun (Video)

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and operatives of the Economic and Financial Crimes Commission (EFCC) on Tuesday stormed an illegal Chinese-operated refinery in Ogere-Remo, Ikenne Local Government Area of Ogun State.

The joint operation followed intelligence reports that revealed a well-fenced but crude yet technically sophisticated facility occupying more than three hectares of land.

During the inspection, officials observed underground tanks believed to have been used for heating and processing sludge oil, refining waste products, and substances suspected to be Automotive Gas Oil (AGO), popularly known as diesel. NMDPRA officials immediately sealed the facility.

Ogun State Coordinator of NMDPRA, Dr. Atilola Akinyemi, described the plant as a complete illegality operating without any permit from regulatory authorities.

“The underground storage facility behind the site has an estimated capacity of more than 90,000 litres, complete with underground heating systems, water hydrants for cooling, locally fabricated tanks and silos for separation,” Akinyemi told journalists.

He warned that if such adulterated products entered the market, they would pose serious risks to vehicles and engines. All recovered products have been confiscated by the Federal Government.

Director of the Department of Proceeds of Crime Management at the EFCC, Gbolahan Latona, stressed the need for collective patriotism in tackling economic crimes.

“Upon conclusion of investigation, the suspects will have their day in court and the proceeds of crime will be put to meaningful use,” Latona said.

Watch video below:

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Sanusi: Critics Are Not Enemies Of The Govt

” It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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The Emir of Kano, Alhaji Muhammadu Sanusi II, has advised the Federal Government against treating every comment about the administration as an attack on President Bola Tinubu.

The royal father gave the advise on the occasion of the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tan.

Speaking virtually to the audience at the event, on Tuesday, Sanusi advised the government to tolerate constructive criticism.

“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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Urbanisation: Lagos To Fall Behind Luanda as sub-Saharan Africa’s biggest city by 2050

The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.

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A report conducted by the World Bank and the European Commission’s Joint Research Centre, has projected that Angola’s capital, Luanda,will overtake Lagos as sub-Saharan Africa’s most populous city by 2050, rising by 78 percent from 11.4 million to 20.3 million.

The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.

The report estimated that Luanda’s population would increase from 11.4 million in 2025 to 20.3 million in 2050, adding 8.9 million residents over the period.

Lagos, the region’s most populous city in 2025 with an estimated 12.8 million residents, is projected to grow to 16.2 million by 2050, an increase of more than 25 percent.

Despite the growth, Lagos is expected to fall behind Luanda, whose population is projected to exceed that of Nigeria’s commercial hub by 4.1 million.

“Over this period, the population of Angola’s capital city, Luanda, is projected to increase by 78 percent from 11.4 million to 20.3 million.

In doing so, Luanda will overtake Lagos as SSA’s most populous city,” the report said.

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