Vice-President Yemi Osinbajo has said that the administration of former President Goodluck Jonathan had no appetite to implement the Treasury Single Account, TSA, policy. He said that the policy only existed as an idea under the past government.
“We inherited a Treasury Single Account, TSA, system that existed mainly as an idea, without the appetite for serious implementation,” he said while speaking at the opening ceremony of the Open Government Partnership, OGP, which held in Abuja on Monday.
“Since the presidential order by President Buhari in August 2015, we have made remarkable progress in expanding the reach of the TSA, so that today, we are almost at 100 percent compliance.”
The TSA is a federal government-regulated account, where all government revenues and incomes are deposited. Jonathan introduced the policy in 2015 “to aid transparency”.
Osinbajo, at the event further said that corruption has “threatened the very fundament of our existence”, which he said had taken a toll on the country’s economic development.
He added that the current administration has adopted a “two-step” approach to stop corruption in the country.
“The first is to stop grand corruption and the accompanying impunity. The second step and the more enduring one, is creating a self- sustaining system that assures transparency and accountability,” Osinbajo said.