Nigeria’s finance minister and coordinating minister of the economy, Wale Edun, says the federal government will recover all public funds still sitting outside the Treasury Single Account (TSA) and the Central Bank of Nigeria (CBN) as part of sweeping efforts to restore fiscal discipline and transparency.
Speaking at a Fiscal Policy Dinner during the 31st Nigerian Economic Summit in Abuja, Edun revealed that despite long-standing directives, significant amounts of government money remain unremitted to the TSA. “There’s federal government money lying outside the TSA, lying outside of the Central Bank,” he said, pledging to recover “every single penny” through enforcement, consensus, and technology.
He said the Tinubu administration’s reform strategy — anchored on stabilisation, recovery, and growth — aims to close fiscal leakages and rebuild confidence in public finance management. As part of this, a central billing system launched on October 1 now allows for real-time tracking and reconciliation of government payments, which Edun described as a “game changer” for revenue collection.
The finance chief said President Bola Tinubu’s reforms — from fuel subsidy removal to exchange rate unification — have begun stabilising the economy. “The data does not lie,” Edun said. “Inflation is easing, the naira is relatively stable, industrial growth is above 7 percent, and agricultural production is rising.”
He admitted, however, that inflation at about 20 percent remains a concern, requiring continued fiscal and monetary tightening. To cushion the social cost of reforms, he said 8.1 million households have already received direct cash transfers, with a target of 15 million beneficiaries, each verified and paid digitally.
On expenditure, Edun said government spending is being redirected toward capital projects and efficiency. He added that talks with the National Assembly are underway to reinstate the January–December budget cycle to prevent rollover distortions.
“Nigeria is becoming more investment-ready,” Edun said, calling for stronger collaboration between the public and private sectors. “What is being rewarded now is innovation and productivity, not privileged access to distortions.”
