'N2.9 trillion in TSA will not be used to fund 2016 budget,' minister says
Adeosun added that using the money in the TSA to fund the budget as suggested by legislators is not the best decision amidst liquidity problems rising from the increase in global crude oil prices.
She said the funds will be used by different agencies, to fund various projects, as they have rights to access the funds.
Adeosun said that the government had commenced the training of its personnel on the operation of the TSA such that any agency of government that needed its share of the funds in the account would not find it difficult accessing it.
Joseph Nnana, deputy governor, financial system surveillance, CBN who was present at the meeting indicated that about $20 billion lying idle in various domiciliary accounts.
He added that though some privileged Nigerians might be behind the continuous rise in dollar against Naira, but the CBN is embarking on an aggressive liquidity mop-up to enable the naira regain confidence.
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
FG declares September 27 a public holiday for Eid-el-Maulud
PDP calls for full investigation of Supreme Court fire
Saudi Arabia to conduct free surgeries for indigent Nigerians
Information Minister cautions Zamfara Govt against politicising insecurity
He didn’t deserve to be murdered — Fani-Kayode reacts to Bakare’s criticism of Mohbad
FCT residents caution against lynching suspected ‘manhood thieves’
Ondo Assembly serves Deputy Gov Aiyedatiwa letter of allegation
11 banks generate ₦72 billion from account maintenance charges in H1, 2023
Emefiele continues to identify as CBN Governor on X even after resignation
Pulse Sports
Mikel Obi: Super Eagles legend branded 'fine boy no pimple' in Dubai
Give us Mourinho! Chelsea fans beg for 'Special One' after latest defeat
Check out Cristiano Ronaldo’s amazing car collection reportedly worth over a staggering N20 BILLION
Anthony Joshua and Burna Boy: Nigerian-born boxer and African giant team up for Boss at Milan Fashion Week
How Nigerians can vote for Osimhen to win FIFA Best Player Award ahead of Messi
