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TSA: Govt saves N108bn from bank charges

The Federal Government has saved a total of N108.1bn from charges imposed by banks for managing funds belonging to its ministries, departments and agencies since the commencement of the Treasury Single Account in September 2015.

The amount represents the various charges and account maintenance fees that were hitherto imposed by the Deposit Money Banks for holding government funds.

The Accountant General of the Federation, Alhaji Ahmed Idris, gave the figure while speaking in Abuja at a two-day workshop for finance journalists on the TSA and other public financial management reforms.

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