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FG to release COVID-19 donations based on demand

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Zainab Ahmed

The Federal Government has declared it will release the COVID -19 donations based on exigencies of demand.

A statement from the Office of the Accountant General of the Federation (OAGF) said the Office will release proceeds of the donations which now stands at ₦19.4 billion to the Presidential Task Force on Control of COVID-19.

According to the statement: “In line with the Federal Government’s financial regulations, the funds will be released by the Office of the Accountant General of the Federation (OAGF) to the Presidential Task Force on Control of COVID-19 according to the exigency of demand.”

The OAGF has also released the details of the bank accounts into which interested Nigerians and corporate bodies can make their donations.

They are: Zenith Bank Account Number – 1017231692; Access Bank Account Number – 1385400542; GTBank Account Number – 0574639933; First Bank of Nigeria Account Number – 2035403735; United Bank for Africa Account Number – 1022761737.

President Muhammadu Buhari recently approved the restructuring of the Treasury Single Account (TSA) in order to mobilize cash donations from the people and corporate bodies across the nation.

The restructured TSA will, “create flexibility and build a coalition with financial institutions while maintaining the sanctity of the TSA” Finance Minister, Zainab Ahmed said.

Going forward, the COVID-19 Donor Accounts, will form part of the existing TSA arrangement.

On Tuesday Zainab Ahmed on her twitter account said #COVID19 donor accounts, “which will form part of existing TSA arrangement, have been opened with @ZenithBank @myaccessbank @gtbank @UBAGroup @FirstBankngr. Others will be included in this initiative as need arises.”

The accounts she said are linked to TSA, for ease of monitoring and reporting.

Federal Government she pointed out “will be issuing circulars and Ministerial Orders to ensure that charitable donations by benevolent companies to support our #COVID19 pandemic efforts are tax deductible, in line with Section 25 of the Companies Income Tax Act.”

Abass Sulaiman Adegoke, well known as Adegoke is a student of Federal Polytechnic Ede studying Civil Engineering, He is a media enthusiast, loves traveling, and has a special interest in personal development.

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