No government ministry, department or agency had been exempted from the recent directive on the Treasury Single Account policy introduced by the Federal Government, the Central Bank of Nigeria, CBN, governor, Godwin Emefiele, has said.

The governor, who was speaking in Abuja on Tuesday on the outcome of the two-day Monetary Policy Committee meeting, said so far he was not aware of any other directive countering the previous instruction to all government agencies to remit all revenues to the TSA account with the CBN.

“As at today, the CBN has not received any memo from any quarters exempting any organisation from the directive on TSA”, the CBN governor said. “Let me urge all government agencies to ensure that they complied fully with the directive to ensure its success.”

He said the impact of the TSA policy on the economy so far showed that the amount of funds moved from the commercial banks to the CBN since the policy commenced about a weeks ago had been moderate, contrary to reports that it had triggered liquidity squeeze.

Although he acknowledged that there have been a lot of speculation in the market, he said as an on-going exercise, the impact of the policy would continue to grow as time goes.

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