obstead200:
let me educate u just a little about public sector accounting.
The revenue from Nnpc (as well as customs, FIRS,) goes to the federation account for onward distribution among d 3 tiers of government.
TSA is tied to the consolidated revenue fund which receives the federal govt share of the distribution. Hope u now understand why Nnpc cannot be under the TSA? Rather a separate system for accountability urgently needs to be set up for them. Cos Dem don thief tire

okpurukata:


Helloooo. If NNPC revenue goes to the federation account, how come they have several large deposits in various commercial Banks?

adconline:

You miss the part where NNPC operates a foreign account with Chase Bank where minister of finance and CBN are not signatories to...

tuniski:
GEJ didn't come up with the TSA, it has been there before independence but, liberalized after the civil war to allow for d increasing need for speedy govt transaction and development. However, TSA can only be use as a cut off procedure not a lasting Policy it won't last! It is a lazy brain accounting!

obstead200:
technically, u are right to say GEJ did not introduce TSA (as a policy). It is embeded into the laws of Nigeria that all revenues from all government ministries, department and agencies are to be paid into the CRF except those specifically exempted. However TSA in its present form with its underlying technology is an enforcement mechanism for the existing law. So Gej introduced the enforcement mechanism for TSA. Let us give him credit for that please.

Now as for TSA not lasting, I can assure u as a seasoned accountant in the public sector that the underlying technology on which the TSA is based is very robust and the system was properly designed to be sustainable.
However, the implementation is another ball game all together. TSA is a wonderful innovation. If it does not last, we shud not blame the technology. We should blame the policy makers and the pple implementing the policies

rudebouy:
Firstly, this news doesnt sound true to me oh.

Secondly, Transcopr Hilton na govt parastatal ni?

Mee234:

That is where his money will come from. He needs to steal his own to be as per with OBJ and the likes

modath:



Did you think before you posted?

GEJ came up with the TSA but didnt have the will to enforce it as usual....

Go and research, you know little, sorry.

modath:



Did you think before you posted?

GEJ came up with the TSA but didnt have the will to enforce it as usual....

Go and research, you know little, sorry.

obstead200:
pls stop sycophancy and grow up.

In as much as u support buhari and hate GEJ, u must admit that buhari makes very weighty and far reaching economic decisions like someone deciding what color of boxers to wear underneath. He does not think some issues thru before jumping to decisionss. Makes me wonder what kind of demons and national saboteurs have surrounded him in the name of friends and advisers.
He reminds me so much of the ab.oki we once had as CBN governor.
NIGERIA is a very complex state with very complex and peculiar problems. Every single decisions has to be carefully considered before implementation.

U can never hear me calling PMB baba go slow cos I believe that provided he thinks his actions thru, the time taken shud not matter

bongila:
Make a rule today reverse same tomorrow. Confusion everywhere. GEJ tuale to you sir.

modath:



Did you think before you posted?

GEJ came up with the TSA but didnt have the will to enforce it as usual....

Go and research, you know little, sorry.

maestroferddi:
After all the noise?

gymer:


Government is still in charge of transmission.

175:
Interesting....so NNPC is not in the TSA abi Who is in the TSA then?

Nigerian Football Association
Akara Fryers and Sellers Association
Lacasera n Gala Hawkers Association

Abi!?? Chai APC and Buhari, there's God oooo.

Chanjii

.
.
lalasticlala n Seun plus Ishilove come and see oooooo

175:
Interesting....so NNPC is not in the TSA abi Who is in the TSA then?

Nigerian Football Association
Akara Fryers and Sellers Association
Lacasera n Gala Hawkers Association

Abi!?? Chai APC and Buhari, there's God oooo.

Chanjii

.
.
lalasticlala n Seun plus Ishilove come and see oooooo

modath:



Did you think before you posted?

GEJ came up with the TSA but didnt have the will to enforce it as usual....

Go and research, you know little, sorry.

Gamesmart:


And what makes you think this is not part of thinking it through?

Has the policy negatively affected the establishment before the adjustment was made?

Even if people are trying to save you and your future, some of you just what to complain to have a perception in your head that you are relevant and contributing.

Reminds me of the criticism and abuse bombardment Murray Bruce gets on twitter for saying corruption and suffering must end.

obstead200:


sorry. But before I reply u, I need to assume that u are an accountant or at least knowledgeable in matters of government treasury operations.

Now having assumed that, let me ask u; what makes u think buhari thought this through before giving marching order to the MDAs to migrate?

Do u know the logistics (training and retraining of staff, orientation of bankers, synchronising the banks' platform to properly integrate with the GIFMIS application in OAGF, budget and appropriation issues, bank reconciliation and issues resolution procedures etc) that should be considered and ironed out before implementation of TSA?
If u know a bit about govt financial operations, you will know that this issues are not childs play. Any one of them, if not properly handled, will seriously hamper TSA implementation and by extension, the public sector operations.

U see, TSA is a good development any day any time. But the implementation needs to be planned very very carefully. it is not something u just issue a marching order without addressing the inherent logistics. that is a perfect recipe for future disaster. Take it or leave it.

Gamesmart:


My friend, what Buhari issued was a policy.

The detailed implementation of the policy took in considerations that resulted in exemptions.

That is thinking it through.

It is not like if these institutions were included and then exempted after implementation. They were excluded before the implementation.

obstead200:


sorry. But before I reply u, I need to assume that u are an accountant or at least knowledgeable in matters of government treasury operations.

Now having assumed that, let me ask u; what makes u think buhari thought this through before giving marching order to the MDAs to migrate?

Do u know the logistics (training and retraining of staff, orientation of bankers, synchronising the banks' platform to properly integrate with the GIFMIS application in OAGF, budget and appropriation issues, bank reconciliation and issues resolution procedures etc) that should be considered and ironed out before implementation of TSA?
If u know a bit about govt financial operations, you will know that this issues are not childs play. Any one of them, if not properly handled, will seriously hamper TSA implementation and by extension, the public sector operations.

U see, TSA is a good development any day any time. But the implementation needs to be planned very very carefully. it is not something u just issue a marching order without addressing the inherent logistics. that is a perfect recipe for future disaster. Take it or leave it.