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<p>Tinubu opens new account for revenue collection, shuts down Treasury Single Account</p><div class="Gk4JW7Sb" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p>President Bola Tinubu’s government has shutdown the Single Treasury Account (TSA) used by Muhammadu Buhari’s administration for revenue collection.</p>
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<p>The federal government has, however, directed that all ministries, departments, and agencies to remit 100 percent of their revenues into a Sub-Recurrent Account, a sub-component of the Consolidated Revenue Fund (CRF).</p>
<p>The CRF is the new account where the Tinubu administration will now receive and consolidate its revenue earnings.</p><div class="DbW1UwAn" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p>This is according to a circular dated December 28, 2023, issued by the Ministry of Finance on Tuesday, January 2, 2024.</p>
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<p>This directive effectively closes the single treasury account operated under the erstwhile Muhammadu Buhari administration.</p>
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