The Federal Government has issued a sweeping directive to all Ministries, Departments, and Agencies (MDAs) to disclose details of their commercial bank accounts, marking a renewed push to enforce the Treasury Single Account (TSA) policy and plug persistent revenue leakages.

In a memo dated October 20 and signed by Accountant-General of the Federation, Shamseldeen Ogunjimi, MDAs were ordered to submit statements for all active, dormant, and closed accounts over the past six months. The required disclosures include account names, numbers, branches, and balances. The directive takes immediate effect and signals growing frustration over non-compliance with TSA consolidation mandates.

“This is part of ongoing efforts to strengthen fiscal discipline and uphold the integrity of the Treasury Single Account Framework,” Ogunjimi stated, emphasizing the TSA’s role in centralizing government inflows to enhance transparency and combat corruption.

The TSA, introduced in 2015 under President Muhammadu Buhari, was designed to eliminate fragmented revenue collection and reduce opportunities for graft. Despite its promise, implementation gaps have allowed MDAs to retain funds in private banks, undermining the policy’s effectiveness.

Federal Pay Officers have been tasked with monitoring compliance at the state level, and the memo warns of sanctions for any circumvention. Financial analyst Olanrewaju Ogunmola described the move as “overdue housekeeping,” noting that “MDAs treating commercial accounts as slush funds has starved the federation of resources for development,” with billions lost annually.

A senior MDA official, speaking anonymously, acknowledged the challenge ahead: “It’s a wake-up call, but reconciling decades of records will be chaotic.”