FG saves N296.4bn from TSA, IPPIS/BVN annually – Buhari

FG saves N296.4bn from TSA, IPPIS/BVN annually – Buhari

 

President Muhammadu Buhari says Federal Government’s leveraging on Information and Communication Technology (ICT) and the enforcement of Bank Verification Number (BVN) has saved the nation of N24.7 billion monthly about N296.4bn annually.

The president disclosed this when he declared open the 2017 eNigeria Conference, organised by National Information Technology Development Agency (NITDA) at the International Conference Centre, Abuja, on Tuesday.

The president also revealed that the implementation of the Integrated Payroll and Personnel Information System (IPPIS) and Bank Verification Number (BVN) had eliminated ghost workers and reduced waste, thereby saving the nation N20 billion monthly.

He said that the consolidation of 20,000 accounts had saved the nation N4.7 billion. According to him, the TSA policy has also facilitated transparency, accountability and ease of transactions and payments between government and businesses as well as government and citizens.

“We have done a lot to transform our government, especially in the areas of strategy, policies and digital infrastructure investments.

“You may recall that on assumption of office, we enforced the policy on Treasury Single Account (TSA). Today, we are all witnesses to the impact it has made on our financial management.

“We have so far consolidated over 20,000 accounts, resulting into about N4.7 billion monthly savings.

“In addition, the policy facilitated transparency, accountability and ease of transactions and payments between government and businesses as well as government and citizens.

“Another initiative leveraging on ICT and making huge impact on the economy is the introduction of the Integrated Payroll and Personnel Information System (IPPIS) and Bank Verification Number (BVN).

“Its implementation has helped to eliminate the menace of ghost workers, thereby reducing waste in the system by saving government over N20 billion monthly.”

President Buhari described his presence at the event as a demonstration of his commitment and strong belief in using ICT as a major driver of developmental governance and economic reform plans aimed at bringing about the true CHANGE his administration promised Nigerians.

According to him, ICT is strategic in driving productivity and efficiency in all sectors of the economy.

He noted that currently, almost all sectors of the nation’s economy leverage on ICT to increase efficiency, productivity and performance.

President Buhari commended NITDA’s efforts on fostering the patronage of indigenous IT products and services through continuous engagement with indigenous OEMs, relevant stakeholders and other laudable initiativesions and recommendations to further develop local content in ICT as well as how it could best regulate the deployment and use of ICT systems to foster a digital economy in Nigeria. to full blown Venezuela style dictatorship – Reno If you’re tainted with a brush of corruption, you will answer for it – Adesina Video: Nigerian Air Force jets bombard of Boko Haram fighters in Sambisa RSS Allure Latest posts My wife and I don’t go through each other’s phones – Comedian, Gordon Pranked! Comedian Ebiye’s marriage proposal was a comedy sketch Men’s Fashion at Heineken Lagos Fashion and Design Week #HLFDW 2017: Runway Vs Street Style Music diva, Tiwa Savage releases new music video featuring Wizkid Trending Buhari updates list of appointments, dismisses claims of lopsided appointments President Muhammadu Buhari has described as ‘divisive, mischievous and misleading’ a newspaper article, titled, ’81 of B… Biafra: Nigeria is better, stronger together than separated – VP Osibanjo It’s false to say that 81 of Buhari’s 100

 

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