The Federal Government plans to fund the N5,000 monthly allowance for 25 million unemployed youths and the free school feeding programme from the Treasury Single Account.

It was learnt that despite dwindling oil revenue, the government believed that some money that would have gone into private pockets because of the uncoordinated and multiple bank accounts operated by government agencies, would be saved through the TSA and be spent on the purpose.

A source in the Presidency said on Tuesday that funds that would be freed through the gains that would be derived from the TSA, domiciled in the Central Bank of Nigeria, would be used for the well-being of Nigerians and the social safety net would be one of such programmes.

“This government is saving funds that, in the past, ended up in personal pockets through the TSA. These funds will come handy for this programme,” the source said.

Credit: Punch