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Nairaland Forum / Nairaland / General / Politics / Understanding The Treasury Single Account (TSA) System – Things You Should Know (95224 Views)
Nigeria Has Over N 2.7Trn In Treasury Single Account ( TSA ) – AGF / Treasury Single Account: Its Benefit, Major Players And Unnecessary Controversy / Treasury Single Account Is A Fraud, Says Fayose (2) (3) (4)
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Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by wellmax(m): 2:41pm On Sep 14, 2015 |
Op and mod are wicked. Why didn't you pos this yesterday? This was the question at an interview today. If it had been yesterday, I for pass wella 3 Likes |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Bevista: 2:41pm On Sep 14, 2015 |
psucc:A budget of N4.5T for an oil producing country like Nigeria, which has a population of over 170m and a GDP of $550B is embarrassing and abysmal. The only reason for this is revenue leakages all over the system. The negative impact on the banking industry is a collateral damage for the greater good of the larger economy. Nigeria should be having a budget in excess of N10T. In comparison, South Africa, with a smaller population and GDP, has a budget equivalent of N20T. 7 Likes |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Nobody: 2:45pm On Sep 14, 2015 |
This TSA will help the banking system to refocus and realigning with there primary duties! #TeamThinkForMe 4 Likes |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by oweman: 2:46pm On Sep 14, 2015 |
psucc:j Is this the defence for the divertion of $20 billion oil money into zanith bank for which Emefele was compensated as CBN governor appointee . How Nigerians defend what in some countries attract death sentence beat my imagination . Nigeria need plenty prayers if what the retired controller general of customs is to be true me I can see capital punishm said on bbc hausa service is true the chances of death coming for LOOTERS in Nigeria will be sooner than later defending this bad behaviours korokoro the rate at which looters recruit supporters is getting worrisome and something very drastic MUST be done ++ 6 Likes 1 Share |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by seun005: 2:51pm On Sep 14, 2015 |
We now have a government, TSA is constitutional.......after all, no b buhari write d constitution! Our past leaders/government/administration as bn so weak & inactive that d wrong things as bn upheld in all areas of government activities nd policies. Let me d diamond/zenith bank that will now say acct registration is 50k.......una go beg for customers tire (thank God for GTB dts operates zero acct balance) Its Funny some young Nigerians still don't c anything good frm dis policy, Nigeria's future problem is really d youth level of thinking.........hp d new govt start to do smth abt it. 4 Likes |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Enesi47: 2:56pm On Sep 14, 2015 |
seun005:don't mind that yeye zenith bank they will soon go to road side like sterling bank |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by seunmsg(m): 3:02pm On Sep 14, 2015 |
ruffhandu: The CBN and ministry of finance can not continue the "money chopping". CBN is a bank and they can't just spend governments money simply because it is in their custody. The constitution, appropriation act and other relevant acts have stated clearly how the revenues will be appropriated for the benefit of the country. The PMB administration will simply implement the laws to the letter and all avenue for chopping will be cut out. |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by onyibajoe(m): 3:07pm On Sep 14, 2015 |
Just that No.7 should rather read 'deposit rate to increase and lending rate to reduce'. I give it to the guy, he is a summary guru. utuooocha: 2 Likes 2 Shares |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by osothermal(m): 3:07pm On Sep 14, 2015 |
It sounds good but mr president engineering in the country is grounded we engineers spend 5 or more years in the higher institution learning little or nothing i suggest that a scheme should be set up to train engineering graduate thoroughly outside the country thereby exposing them to contemporary technologies then bringing them back there will be no need to waste millions of dollars on so called expatriate .they get two heads. Am just saying my own o 1 Like |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Oxyde1(m): 3:07pm On Sep 14, 2015 |
Let them implement it already, make man pikin hear word!.. Everything for this administration na "I will do this,, I will do that"... Otu awuhu n'ezhi!... Mtcheew!! |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by SHOPPERS(m): 3:14pm On Sep 14, 2015 |
Did anyone read the part that showed that it was Jonathan that first brought about the implementation even test running it first and recommending that it should be fully implemented? |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Adesiji77: 3:19pm On Sep 14, 2015 |
Thanks Rockstar07 for sharing this, God bless you. You have really clarified the concept of TSA. Meanwhile, the "deposit wars" has started already... Most banks have given their marketers new targets to be met for both Q3 and FYE to cushion the effect of the TSA implementation. The hustle is real... 1 Like 1 Share |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by honeric01(m): 3:25pm On Sep 14, 2015 |
Hmmm so this is likely to expose the docile state of the Nigerian banks before now? 1 Like |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by baralatie(m): 3:30pm On Sep 14, 2015 |
osothermal:The challenge is to fund indigenous engineering firms! The rate of lending chocks the obligations some firms |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by asha80(m): 3:31pm On Sep 14, 2015 |
Adesiji77:I pity the female marketers |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by baralatie(m): 3:32pm On Sep 14, 2015 |
Adesiji77:na only God go help marketers now o! |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by luminousity(m): 3:35pm On Sep 14, 2015 |
[quote author=Rockstar07 post=38000540]Below is the summary of the above article in bullet points for those fellas who don't have time to read. 4. All MDAs won't have access to the funds in the banks, they may have to pass through the CBN after obtaining neccessary approval before funds can be release to them. Please what is the meaning of the acronym, MDAs. |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Sultanchidi(m): 3:39pm On Sep 14, 2015 |
From d above explanations it seems d disadvantages wil affect d general public, bt i hope it's only for a short period of time. Those gals 4 bank go hear am oh |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Ephemmm: 3:41pm On Sep 14, 2015 |
psucc: Banking sector is a real tool for embezzlement/diversion of public funds in the hands of politicians: the earlier you realize this, the better. |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by 2termz(m): 3:44pm On Sep 14, 2015 |
Chai!bankers don suffer ;DChai!bankers don suffer |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by strykr: 3:51pm On Sep 14, 2015 |
@O.P, which other countries use TSA a art from Nigeria, and what has been it's impact on their economy/real sector? |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by ndigbo: 3:53pm On Sep 14, 2015 |
tolexy007:Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Rockstar07: 1:49pm Below is the summary of the above article in bullet points for those fellas who don't have time to read. 1. The TSA system is consitituional, only that past administration refused to implement it. 2. CBN manage the accounts and sub accounts for all in-flow and out-flow. 3. All revenues from MDAs into banks are to be remiited to the TSA accounts daily BCOB 4. All MDAs won't have access to the funds in the banks, they may have to pass through the CBN after obtaining neccessary approval before funds can be release to them. 5. Banks may have to re-strategized on other means to get deposits from private coys or state govt that's even state won't follow fed pattern. 6. Banks may have to retrench their staffs esp the back office staffs and seek more sales staffs to get deposits by all means 7. Banks will increase their interest and reduce lending 8. The strategy will alleviate diversion of public funds by public office holders even tho there may be little diversion either through over stating cost or diverting funds given to them but it'll be minimal. It has been summarized by Rockstar07 |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by razid: 3:55pm On Sep 14, 2015 |
[quote author=luminousity post=38003497][/quote] MDA's means government Ministries, Departments and Agencies. 1 Like |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by ndigbo: 3:55pm On Sep 14, 2015 |
[quote author=luminousity post=38003497][/quote] Ministries , Department and Agencies MDA |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by mickey45: 4:12pm On Sep 14, 2015 |
Bevista: S.Africa is a more advanced economy than ours their revenue base is far from comparable to Nigeria's although I do agree we need to up our budget, I'm more interested in cutting down overhead and re-directing more into capital expenditure |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Bigdreams(m): 4:15pm On Sep 14, 2015 |
Thanks for the information. It's really explanatory enough. Check my signature to learn how to setup your own bulk sms portal without any technical knowledge. |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by soloyes(m): 4:17pm On Sep 14, 2015 |
psucc: You are also thinking in only one direction. How many staff are the banks going to lay off? Have you considered how much the nation will save, the infrastructure that will be developed from these funds which will lead to more companies springing up and the number of jobs that will be created thereafter? 4 Likes |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by OlujobaSamuel: 4:20pm On Sep 14, 2015 |
thsi is a good policy implementation, the banks will be forced to seek for alternate source of fund. The strength of Swiss banking system is strict banking operations adherence and having a higher cost of savings vis a vis cost of credit. I still wonder why take a loan of about 22% interest in a country seeking for diversification. |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by ihesiuloa(m): 4:21pm On Sep 14, 2015 |
ruffhandu: I've laughed my Tommy out please I can't shout o! |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Nostradamu(m): 4:44pm On Sep 14, 2015 |
psucc: I'm sorry to say this --really sorry, but "ori eh ti daru". Again, i'm sorry ooh. When will Nigeria be able to "cope with TSA"? You just murdered the idea of the TSA (of course, not that your yatter matters) and didn't proffer the "cons" (or sensible solutions) to the idea. Sorry for taking it 'P'; no strings. Thanks. GBN |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by Nobody: 5:04pm On Sep 14, 2015 |
[quote author=luminousity post=38003497][/quote] Ministries, Departments and Agencies |
Re: Understanding The Treasury Single Account (TSA) System – Things You Should Know by GOUN: 5:11pm On Sep 14, 2015 |
For the first time am seeing intellectual discuss devoid of primordial sentiment |
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