Treasury Single Account (TSA) is related to the management of public funds thereby to enhance the efficiency and effectiveness of public financial management. Government banking arrangements are an important factor for efficient management and control of government’s cash resources. A TSA is unified structure of government bank accounts that gives a consolidated view of government cash resources. TSA is a bank account or a set of linked bank accounts through which the government transacts all its receipts and payments and get a consolidated view of cash position at the end of each day. In fact, a government lacking effective control over its each resources can pay for its institutional deficiencies in multiple ways. (a) idle cash balances in bank accounts often failed to earn market related remuneration, (b) the government, being unaware of these resources, incurs unnecessary borrowing costs on raising funds to cover a perceived cash shortage. (c) idle cash balance of government in commercial banking sector are net idle for the banks themselves and can be used to extend credit. Draining these extra liquidity through open market operations also imposes costs on the central bank. These deficiencies of traditional government cash management system can be solved by implementing TSA system. A full fledged TSA system has three essential features: (a) the government banking arrangement should be unified, (b) no other government agency operates bank accounts, and (c) the consolidation of government cash resources should be comprehensive and encompass all government cash resources, budgetary and extra- budgetary. Objective and Benefits Primary objective – to ensure effective aggregate control over government cash balances. Allows complete and timely information on government cash resources. Improves appropriation control. Improves operational control during budget execution. Enables efficient cash management. Reduces bank fees and transaction costs. Facilitates efficient payment mechanism. Improves bank reconciliation and quality of fiscal data. Lowers liquidity reserves need. The consolidation of cash resources through a TSA arrangement is meant to optimize government cash management. It avoids borrowing and paying additional interest charges to finance the expenditures of some agencies while other agencies keep idle balances in their bank accounts. To sum up, the establishment of a TSA is a key element of an efficient and effective public financial management system and an essential tool for minimizing government borrowing costs.


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treasury single account is another mumbo jumbo from the fulanis who believe that any industry were they do not dominate and do not also have the capacity to dominate should be killed or grounded.

The banking industry and stock market in Nigeria is one of the few were the cattle herders have repeatedly failed in attempt to dominate so they always bring policies to crash it .

recall the sanusi madness and how many jobs were lost in the process in this same industry and the crash of the stock market, it was intended to take some peoples life time achievement. Erastus akingbola was a victim.

do you know sarakis stake in access bank. can you explain how small access bank took over intercontinental.

there is more to this TSA than most of you know but the brown envelope journalists in Nigeria is the reason most people are misinformed

aguiyi:
treasury single account is another mumbo jumbo from the fulanis who believe that any industry were they do not dominate and do not also have the capacity to dominate should be killed or grounded.

The banking industry and stock market in Nigeria is one of the few were the cattle herders have repeatedly failed in attempt to dominate so they always bring policies to crash it .

recall the sanusi madness and how many jobs were lost in the process in this same industry and the crash of the stock market, it was intended to take some peoples life time achievement. Erastus akingbola was a victim.

do you know sarakis stake in access bank. can you explain how small access bank took over intercontinental.

there is more to this TSA than most of you know but the brown envelope journalists in Nigeria is the reason most people are misinformed

TSA is not an invention of this government, it has been in existence for long. It has nothing to do with politics, it only mean all govt MDA use a single account. A ministry shouldn't be taking loan while another ministry is having an idle cash in their accounts

Shegofams:


TSA is not an invention of this government, it has been in existence for long. It has nothing to do with politics, it only mean all govt MDA use a single account. A ministry shouldn't be taking loan while another ministry is having an idle cash in their accounts

exactly what you were made to believe.

even my company has more than 10 different accounts with more than 10 different banks.

if you dont know book keeping or accounting you will not understand than money can be in hundred different places and still retain it sum.

now that all the money is in a single account, has it increased revenue generation or created the much needed jobs.

the money will still be disbursed to the ministries and agencies from where the money is normally stolen. funds have never been reported stolen at the point of collection in the bank but by the heads of govt agencies.

it is politics beyond your imagination my dear

aguiyi:


exactly what you were made to believe.

even my company has more than 10 different accounts with more than 10 different banks.

if you dont know book keeping or accounting you will not understand than money can be in hundred different places and still retain it sum.

now that all the money is in a single account, has it increased revenue generation or created the much needed jobs.

the money will still be disbursed to the ministries and agencies from where the money is normally stolen. funds have never been reported stolen at the point of collection in the bank but by the heads of govt agencies.

it is politics beyond your imagination my dear

If you know about book-keeping and accounting, you should know that there is a difference between public sector accounting which is on cash basis and private sector accounting which is on accrual basis.

And why should the federal government (that owns the CBN) has various accounts with commercial banks. When the CBN serves as banks to this commercial banks.

Shegofams:


If you know about book-keeping and accounting, you should know that there is a difference between public sector accounting which is on cash basis and private sector accounting which is on accrual basis.

And why should the federal government (that owns the CBN) has various accounts with commercial banks. When the CBN serves as banks to this commercial banks.

CBN does not do commercial banking.

that they are a banker to the govt does not mean they do receipts and payments on behalf of the govt.