Imperative of Treasury Single Account (TSA) in Nigeria
18 Pages Posted: 5 Feb 2017
Date Written: December 21, 2016
History guides and shapes thinking in a particular phenomenon, evaluation of government accounting and finance thoughts have help in no small manner. There exist reasons to have polices, process, procedures and tools that unifies all government bank accounts in a single unit for the effective management of government finances, bank and cash position. This paper therefore sought to review the history, workings and benefit of the Treasury Single Account (TSA) in Nigeria using metal-analysis methods. It was found out that despite the numerous benefits of the adoption of TSA, its challenged are abound. This study concluded that the place of Treasury Single Account in Nigeria cannot be underestimated in ensuring that this Nation is free from corruption of public officers and their private collaborator and also ensured that government is able to know and account for it money from all sources at a glance. Government at all levels in Nigeria are encouraged to take the seriously the benefit of operation of TSA and also learn from its resultant effect on the economy on the Nation. TSA is hereby further recommended for the prevention of fraudulent activities and enable government to monitor it resources at a glance. However, care must be taken in order not to allow the negative effect of TSA to overwhelm the intention of government.
Keywords: TSA, Federation Account, Remittance, Fraud Prevention, Corruption
JEL Classification: M40, M41, M49
Suggested Citation: Suggested Citation