President Muhammadu Buhari has approved Zenith bank plc, Access Bank Plc and other banks as Covid-19 donor accounts to form part of the existing Treasury Single Account (TSA) arrangement.
Other banks are Guaranty Trust Bank plc, United Bank for Africa plc and First bank limited.
The five banks joined the Central Bank of Nigeria (CBN) in the collection of Covid-19 funds in the country.
The Nigeria Private Sector Coalition Against Covid-19 (CACOVID), as of April 23, realized about N27.16 billion.
The Office of the Accountant General of the Federation in its framework for the management of Covid-19 funds in Nigeria under the TSA, noted that all public funds allocated and dedicated to the fight against Covid-19 including the fiscal stimulus package.
According to the scope of the framework,” it is also applied to all donations by corporate bodies and individuals to the federal government towards the fight against Covid-19 and the mitigation of its social and economic effects on citizens at large including donations under the Private Sector Coalition Against Covid-19 (CACOVID) fund domiciled at the CBN.
“Lastly, it provides clarity on the operation of the five newly opened Cpvid-19 donor TSA sub-Accounts domiciled in commercial banks.”
On the objects, the circular noted that the federal government recognized citizens expectation that these resources be prudently applied towards the fight against Covid-19.