Sahara Reporters reports that the source who works with the Central Bank of Nigeria (CBN), stated the Jonathan administration signed the policy in 2012.
Although signed by the Jonathan government, weak regulations and corruption in the system ensured that the agencies refused to conform with the TSA policy.
The coming of President Muhammadu Buhari, however, signaled the enforcement of the policy as the government made it mandatory. So far, the TSA account has N1.5 trillion deposited in it.
Meanwhile, the CBN source stated the apex bank was in the process of developing internal competency to enable it to handle the TSA.
The source said: “We at the Central Bank should be able to handle remittances into the TSA without having to pay any so-called consultants a bloated remittance fee.”