The Nigeria Employers’ Consultative Association (NECA) has said that operations of agencies like the National Health Insurance Scheme (NHIS), Industrial Training Fund (ITF) and Nigeria Social Insurance Trust Fund (NSITF) may be crippled if there is no adequate framework for them to access their funds warehoused under the Treasury Single Account (TSA) system.
The NECA Director-General, Mr.Olusegun Oshinowo, raised the observation in a chat with newsmen in Lagos at the weekend. Osinowo said
“For agencies of government that generate their own income who are partially or fully funded outside the budgetary allocation and who have responsibility of rendering services to the private sector through funds generated, we are concerned that these agencies’ performances might be negatively impacted through difficulty in accessing necessary funds as and when required to function optimally.’’
He cautioned that the funds of these agencies should not be treated as revenue to government as the Acts setting them up mandate the agencies to render annual income and expenditure on the funds under their custody.