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October 12, 2026
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TSA Is Fraud Against Nigerians – Fayose

πŸ“… | Words: 423
πŸ“‚ Categories: Politics
Written By: Famzn News

Verified Author & Editorial Contributor

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The governor of Ekiti State, Mr Ayodele Fayose, is at it again! This time, he stated that he would not attend the meeting called by the Federal Government with state governors on the Treasury Single Account (TSA), saying the State Government was not interested in the TSA policy.

In a press statement issued today, by his Special Assistant on Public Communications and New Media, Lere Olayinka, the Governor stated that the TSA policy was a fraud against Nigeria and its people.

He queried the role and the identity of the owners of REMITA, a company which he alleged that the All Progressives Congress (APC) was using to siphon funds to execute the Kogi and Bayelsa States governorship elections

The statement said: β€œFrom all intent and purposes, this TSA policy is aimed at recouping money spent on the last general elections by the APC, as well as raise money for future elections, especially the Kogi and Bayelsa States gubernatorial poll.

β€œIt is also meant to enrich some individuals for doing virtually nothing and that can be seen from the discovery of N25 billion that already accrued to just a single company in one month.

β€œHow can the Federal Government justify a transaction in which a single company gets one percent, amounting to N25 billion in one month?


β€œIn this economic situation that Nigeria is, shouldn’t the one percent commission have been negotiated downward to like 0.1 percent which would have reduced the N25 billion to N2.5 billion?

β€œEven manufacturing companies, with thousands of employees don’t make N25 billion profit in one month.

β€œTherefore, what Nigerians are expecting from the Federal Government is explanation on the alleged N25 billion naira scam already associated with the operation of the TSA, instead of calling State Governors to a meeting that is aimed at imposing the TSA policy on the States.”

Maintaining that he would not attend the Federal Government’s meeting with state governors on the TSA, Governor Fayose noted the Federal Government cannot force its policies on states that are federating units.

β€œEkiti State is entitled to its own policies and it is not under any obligation to accept Federal Government policies, especially the TSA that is already robed in the garment of fraud.

β€œI therefore wish to state categorically that Ekiti State is not interested in the TSA policy and since the state is not interested, I, as the custodian of the popular mandate of the entire people of the state will not attend any meeting called by the Federal Government on the TSA,” he concluded.

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