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TSA: FG saves N45bn monthly, says finance minister

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The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the Federal Government is currently saving an average of N45bn monthly in interest payments following the implementation of the TSA (Treasury Single Account).

Ahmed, who spoke during the signing of a Memorandum of Understanding (MOU) on TSA between Nigeria and the Republic of The Gambia, said among other verifiable benefits, Nigeria could easily determine its aggregate cash balance, critical for managing public finances at a time of acute fiscal constraints.

“On the monetary policy side, we have better control over money supply and, therefore, able to rein in inflation and undue pressure on the naira. Our foreign reserves position has also recorded appreciable improvement through the consolidation of the federal government foreign currency earnings under the TSA,” she said.

Ahmed recalled the last visit by officials of The Gambia in May 2019 for a week-long study tour of the TSA implementation.

The minister said following the successful conclusion of the tour, The Gambia requested technical cooperation with Nigeria to support its own transition to the TSA.

She said in order to achieve that aim, representatives of both countries worked on an MoU detailing the terms and scope of the cooperation.

Ahmed said, “In a nutshell, the cooperation seeks to avail the Ministry of Finance and Economic Affairs of The Gambia of the vast knowledge, experience and technical expertise that Nigeria has gained in the past 15 years of implementing TSA in particular and other public financial management (PFM) reforms in general.

“By so doing, The Gambia is properly guided as it implements its own TSA. The cooperation will enable The Gambia to leverage the experience of Nigeria to build on our strengths while avoiding our mistakes.

“We are happy to support The Gambia in their bid to implement TSA and other PFM reforms. We are also open to supporting other African countries which may want to build on our experience and significant progress in TSA implementation.

“It is our belief that African countries are better off learning from each other and supporting each other because of our shared culture and history.”

The minister urged The Gambia to muster the necessary political will before forging ahead with adopting the TSA.

She warned that it was better to secure the buy-in of topmost political actors in the country.

She stressed the importance of the synergy between the fiscal and monetary authorities.

She noted that the cooperation of other stakeholders such as the parliament; ministries, departments and agencies of government, banks and service providers was also important.

Ahmed urged those to drive the reforms to secure the support of the general public.

“As is the case in Nigeria, when you have their support, they will take it upon themselves to be against forces of resistance and any attempt at derailing the reforms,” Ahmed said.

In her remarks, the leader of the Gambian delegation to the MoU signing ceremony, the country’s Permanent Secretary, Ministry of Finance and Economy, Ms. Ada Gaye, explained that cooperation has helped them to understand the workings of the TSA.

“The Gambia wants to efficiently manage its funds; the fragmentation of accounting systems in The Gambia is huge. It is, therefore, noteworthy for The Gambia to adopt TSA,” she said.

She added that the government of The Gambia will create the needed sensitisation to help the people understand the process.

“Nigeria is the big brother while The Gambia is the small brother. We are happy to cement this brotherly love,” she said.

The Gambian High Commissioner to Nigeria, Mr Amadou Sheikh Oman Taal, also described Nigeria as a big example within the Economic Community of West African States (ECOWAS) region.

“We are trying to make reforms in our financial management. Therefore, this collaboration with Nigeria is very important to us. So, The Gambia Central Bank will get closer to the Central Bank of Nigeria (CBN) so as to learn and get the necessary experience,” he stated.

Governor of CBN, Godwin Emefiele, said the role of the apex bank was critical to the success of the TSA.

Represented by the CBN Deputy Governor, Operations, Adebisi Shonubi, Emefiele said Nigeria was currently realising additional benefits, which were never imagined prior to the commencement of the TSA.

According to him, it is important that the Central Bank of Gambia realises that its primary mandate of price stability will change as it assumes the back stock and corresponding bank for the country as a result of the TSA.

Emefiele said, “Nigeria remains a brother in the house and we are always willing to share our experiences, our gains and sometimes our pains. I know we will be a worthy ambassador of what the TSA has done in Nigeria, The Gambia and other countries in Africa.”

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Kano: Police vow to crush troublemakers, accuse Gov Yusuf of fueling crisis

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Kano State Commissioner of Police, Mohammed Usaini Gumel

Kano: Police vow to crush troublemakers, accuse Gov Yusuf of fueling crisis

Kano State Commissioner of Police, Mohammed Usaini Gumel, says Governor Abba Kabir Yusuf has perfected the royal crisis in the state.

He said this at a press briefing which held at Government House, Kano, on Sunday night.

Explaining the role of the police in the emirship tussle, Gumel said the police would enforce the law.

He also said security operatives had uncovered plot to unleash mayhem on the state while targeting some places, including the House of Assembly.

Gumel, who had earlier warned trouble makers to steer clear of the crisis, vow that the long arm of the law would catch up with whoever tests the resolve of security operatives.

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He said, “Today, we are here to address you on one very key issue that has to do with the security situation in the state which you and all of us have been managing together since the issue around the chieftaincy affairs in the State started.

“We have received credible information about miscreants trying to unleash terror at locations, particularly the House of Assembly and other key places within the state. It has been verified by so many sources.

“Anybody who wants to test the ground, the security has the capacity to deal with the miscreants. We have perfected plans to embark on serious patrols and detection on locations where we are informed the miscreants are hiding.

“We are going to embark on house-to-house search; anybody who feels he is stronger than the law should try it. Kano will remain safe and nobody can override the decision.

“The issue of chieftaincy affairs has been perfected by the executive arm of government. We are standing by the law and we are strictly going to enforce the existing law.”

He further said different groups have been mobilised and paid to carry out attacks and disrupt peace.

Kano: Police vow to crush troublemakers, accuse Gov Yusuf of fueling crisis

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Vacate Kano now to allow peace, Arewa group tells Bayero

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Aminu Ado Bayero

Vacate Kano now to allow peace, Arewa group tells Bayero

The Arewa Social Contract Initiative on Sunday, May 26, asked the dethroned emir of Kano, Aminu Bayero, to vacate the ancient city quietly for peace to reign.

Bayero, who was dethroned alongside four other first-class emirs following the enactment of a new law, has returned to Kano and is occupying the Gidan Nasarawa palace, while Sanusi is in the main palace, a situation that is causing intense tension.

The national chairman of the Arewa Social Contract Initiative, Alh. Sani Mahmoud Darma, on Sunday, May 26, said the solution to the stalemate over the emirate tussle is for Bayero to vacate Kano.

Darma, who addressed a press conference in Kano, said all the Arewa executives from the 19 northern states had met, critically analyzed the situation, and decided that Bayero was the problem and should leave Kano.

He said: “It is very unfortunate that after his dethronement, Aminu Ado Bayero accepted the decision and packed all his belongings from the palace and left Kano state, then some people from the top brought him back and claimed his lost position.

“If he feels his dethronement was unlawfully done and he wants to reclaim it, he would have stayed somewhere and pursued it through the court. But coming back to Kano and attempting to occupy the palace is a sign that he wants to cause violence and chaos in Kano.”

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He reminded the dethroned emir to look back and recall history and accept that his sack was from God and should leave Kano immediately to avoid bloodshed.

Darma said: “This is unacceptable! It happened to Sanusi and he benefited. When Sanusi was dethroned and he (Bayero) was appointed he accepted everything in good faith and left Kano for Bayero to occupy the palace. Why is he back now that he is the victim? It shows he is still interested in the throne.

“He should congratulate Sanusi and vacate Kano immediately for peace to reign. If he is still interested in the position, he should go and stay in another state while he seeks justice from the court.”

He said the Arewa members are 100 percent strongly behind the new emir (Sanusi), because Governor Abba Yusuf, during his gubernatorial campaign, had promised the Kano people that he was going to bring back Sanusi.

The people were happy and they voted for him. What the governor has done is just a fulfillment of his promise and the people are happy about the governor’s decision because it is a long-awaited thing. So, we are (Arewa) also happy about Sanusi’s reinstatement, because he was victimised.

“What has happened is purely the decision of the State House of Assembly, the governor, the kingmakers, and the people of the state, after the old law was repealed. So, it is purely a state affair. We were even surprised when the issue of court order came about,” he said.

Vacate Kano now to allow peace, Arewa group tells Bayero

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President Tinubu arrives in Lagos for Lagos-Calabar highway flag-off

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President Tinubu arrives in Lagos for Lagos-Calabar highway flag-off

President Bola Tinubu has made a notable arrival in  Lagos to commence the flagging-off ceremony for the construction of the Lagos-Calabar highway. Welcomed by Governor Babajide Sanwo-Olu and other government dignitaries at the Murtala Muhammed Airport, President Tinubu’s presence marks a significant step forward in infrastructure development for the region.

The announcement of President Tinubu’s visit was preceded by statements from Olusegun Dada, Tinubu’s Special Assistant on Social Media, who had earlier indicated that the president would inaugurate several projects in commemoration of his first anniversary in office.

Minister of Works, Dave Umahi, had confirmed that Tinubu would initiate the construction of the Lagos-Calabar highway on May 26, emphasizing the administration’s commitment to enhancing transportation infrastructure across the nation.

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During a meeting with a delegation of Yoruba leaders of thought at the State House in  Abuja, President Tinubu reiterated his administration’s dedication to fostering tangible impacts on the lives of Nigerians. He expressed optimism about the country’s trajectory towards prosperity, highlighting the progress made during the past 12 months despite inherent challenges.

President Tinubu’s visit to  Lagos and the subsequent commencement of the Lagos-Calabar highway project underscore the administration’s commitment to accelerating socio-economic development and improving connectivity across regions.

President Tinubu arrives in Lagos for Lagos-Calabar highway flag-off

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