Ayine, who accepted that failure to audit the TSA for two years was detrimental to transparency in the business of government, was also not aware of transfers into the TSA.
This is as the lawmakers warned that it may be compelled to invoke necessary constitutional provisions to force the appearance of the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru if he fails to honour the next invitation of its Committee investigating the TSA.
The GMD, who failed to appear at an interactive session Wednesday, was expected to make clarifications to the Committee on NNPC’s remittance of N1.65 trillion to TSA that has no record in the treasury.
Members of the Abubakar Nuhu-led ad hoc committee mandated to investigate the TSA since inception in August 2015 to November 2016 were left dumbfounded when the Auditor General of the Federation Ayine told the lawmakers that his office has not done any audit due diligence on the TSA.
While making his submission at the interactive session between the ad hoc committee and stakeholders on TSA, Ayine admitted that it was technically wrong and an ‘omission’ but not negligence on the part of the OAGF not to have audited the account.
He however disclosed that he has directed that a performance audit be carried out on the account on discovering that it was not done since inception of the TSA.
He said the report of the audit would be ready between three and seven months but the Committee mandated him to make it available to it by first week of November.
Ayine, who resumed office as AGF five months ago said, “For TSA, we have not actually carried out performance audit directly.
“After my review of the situation, I asked why there was no audit of the TSA and was told it was an ongoing programme but I knew that there’s a need to carry it out.
“Not carrying it out was an omission, not necessarily negligence but it was wrong because circle of audit is for preceding year and we have had two years for TSA now.
“Since I noticed that no performance audit was done, I gave the directive that it should be carried out three weeks ago”.
When asked about details of transfer of N4.2 trillion into TSA account in Central Bank of Nigeria (CBN), Ayine denied knowledge of the transfer saying, “Not quite, I need to, as an auditor to have verifiable evidence before me to be categorical in my response. I need to have documents relating to it”.
On his part, the Accountant General of the Federation (AGF), Ahmed Idris said the TSA has been positive to the economy, plug leakages as well as curb corruption in the system.
He said the platform has provided an opportunity to monitor movement of money to and from Ministries, Departments and Agencies (MDA).
“Now, unlike before what is done with allocations and disbursements to MDAs can now be monitored with a push a button,” he said.
He also said the TSA has taken off the constant pressure on the Consolidated Revenue Fund (CRF) that was always in deficit and had to be financed with N4b overdrawn every month before the inception of TSA.
“With this, there is fund to carry out activities of MDAs because payments are no longer authorized until due diligence is carried out and verified on projects,” he added.
He also said contrary to insinuation in some quarters, the TSA has no idle fund and neither was it affecting economic growth adversely.
Represented by the Director (Funds), Alexander Adeyemi, the AGF said government has given directives that funds in the TSA be invested to generate more finds.
He also said money deposit banks have been assisted by the TSA to focus more and be more cteative in their traditional roles rather than depending on government funds.
According to him, total payment made out of TSA by Systemspec between August 2015 and November 2016 was N8.8 trillion against inflow of N4.147 trillion.
However, details of whether there was an overdraw on the account can only be provided by the operator of the TSA, Systemspec and CBN, Idrisk said.
On committee’s query that N1.65 trillion NNPC’s total inflow to its CBN TSA sub account, the details which the Committee does not have, the AGF said, “The information on this inflow is not available to the AGF because it is not available in the treasury.
“The Committee may want to ask the NNPC and CBN to provide the information”.
On the reason for a difference of N2b between N3.651 trillion inflow figure submitted by Systemspec from its Remita platform and N3.541trillion by the AoGF as at October 2016, the AGF said the TSA is an active accounts with very constant inflow.
According to him, being a running balance, total figure in TSA changes due to deposits made into it on almost per minute basis.
He said a tripartite reconciliation of account would reveal whatever is response for the difference.
He said the report of the tripartite reconciliation would be ready by September as the commissioned consultants have submitted their report.
The meeting however went into closed door session when it was the turn of money deposit banks to interact with the Committee.
(The Nation)
