The Federal Government will recover all public funds still held outside the Treasury Single Account (TSA) and the Central Bank of Nigeria (CBN), the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said.
Speaking at a fiscal policy dinner during the 31st Nigerian Economic Summit in Abuja on Monday, Edun disclosed that despite longstanding directives, several government funds remain outside the TSA and are not domiciled in the CBN.
“It is our determination to make sure we bring in every single penny,” he said. “There’s federal government money lying outside the TSA, lying outside of the Central Bank, and it requires enforcement, consensus, and the right use of technology.”
He added that the Tinubu administration is implementing a three-phase reform plan — stabilisation, recovery, and growth — aimed at strengthening fiscal management and ensuring transparency.
Edun revealed that until August 1, 2024, the government had no full visibility into its accounts at the CBN. “Despite all the efforts, it took us till August 1 this year to have a situation where we could see the federal government’s accounts at the CBN,” he said.
To improve efficiency, he announced the introduction of a central billing system from October 1, allowing real-time reconciliation of payments. “If you pay 20 out of 100, the system tracks the remaining 80 receivable. That’s the difference technology can make,” he explained.
Edun said the fiscal reforms complement the government’s broader macroeconomic measures, including the removal of fuel subsidies and the unification of exchange rates, which he described as necessary market corrections.
He noted that confidence in the economy is improving, with inflation easing, the naira stabilising, and growth recorded in industry and agriculture. However, he acknowledged that inflation, currently around 20 percent, remains a concern requiring tighter policies.
Edun also confirmed ongoing discussions with the National Assembly to restore the January–December budget cycle and strengthen budget discipline. “No more extensions of budgets into the next year, which cause dislocation and confusion,” he stated.
 and the Central Bank of Nigeria (CBN), the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said.){kind=link}