Ministries, departments and agencies of the federal government have up until September 15, 2015, to comply with an earlier directive to move all their funds to the Treasury Single Account maintained at the Central Bank of Nigeria.
The head of service of the federation, Danladi Kifasi, conveyed the president’s directive in a memo dated September 4.
The new policy, first enunciated by the Goodluck Jonathan administration but now being implemented by the Buhari regime, is expected to ruin many Nigerian banks that depend mainly on government funds.
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