The Presidential Task Force (PTF) on COVID-19 Control has been barred from having access to the multi-billion funds mobilised for the Federal Government by members of the Organised Private Sector (OPS).
A new framework released by the Office of the Accountant-General of the Federation (OAGF) on Tuesday May 5, revealed that disbursements of all COVID-19 Fund, including those being collected directly by the Central Bank of Nigeria (CBN) and those domiciled with commercial banks shall be through appropriation.
Asides having N25.8 billion in the Private Sector Coalition Against COVID-19 (CACOVID) Fund domiciled in CBN, President Muhammadu Buhari had also approved the opening of five COVID-19 Donor Accounts which form part of the existing TSA arrangement in Zenith Bank; Access Bank; Guarantee Trust Bank; UBA; and First Bank.
The notice from the OAGF reads in part;
“Funds are to be appropriated directly to participating MDAs and spending units, including the ministries of Health and Humanitarian Affairs, Nigerian Centre for Disease Control (NCDC), among others, rather than to an intermediary agency like the PTF."Administrative cost of the PTF shall be appropriated separately to the PTF secretariat.“The advantage is that the respective spending units and their accounting officers take full responsibility for funds appropriated to them and likely bottlenecks at the PTF are eliminated.“Transparency is enhanced when funds are spread to more MDA than when a huge amount is put under the control of a single entity.”
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