Nigerian Airspace Management Agency has joined calls for the exemption of aviation agencies from the Treasury Single Account (TSA) policy and attendant remittance of 40 per cent of earnings to the Federation Account.
The airspace agency noted that the bureaucracy inherent in the Treasury Single Account initiative is a clog in the wheel of aviation development and progress.
Managing Director of NAMA, Mohammed Odunowo, said the mechanism of remittance to the TSA is not the challenge, but of the long-winding process and delays in accessing remitted funds for critical expenditure – especially in a sector where time is of essence.
Odunowo’s call is preceded by similar advocacy by the Federal Airports Authority of Nigeria to the Federal Government to exempt it from the remittance of 25 per cent of its Internally Generated Revenue to the Federation Account.
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