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

psucc:
I don't know how good you will try to explain this.
To me, we should always weigh the pros and the con of every policy. The operation cum advantages of the TSA will affect the Nigerian economy negatively than what we are told. From inadequate fund to enhance bank lending to the investing public to staff layoff.
Nigeria cannot afford to cope with TSA.

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.

This TSA will help the banking system to refocus and realigning with there primary duties!
#TeamThinkForMe

psucc:
I don't know how good you will try to explain this.
To me, we should always weigh the pros and the con of every policy. The operation cum advantages of the TSA will affect the Nigerian economy negatively than what we are told. From inadequate fund to enhance bank lending to the investing public to staff layoff.
Nigeria cannot afford to cope with TSA.

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 ++

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.

seun005:
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.

don't mind that yeye zenith bank they will soon go to road side like sterling bank

ruffhandu:
So only those at CBN and Ministry of Finance will continue the "money chopping" game? The leakage simply changed route, for now at least.

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.

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:

you did a good job

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

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!!

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?

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...

Hmmm so this is likely to expose the docile state of the Nigerian banks before now?

osothermal:
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

The challenge is to fund indigenous engineering firms!
The rate of lending chocks the obligations some firms

Adesiji77:
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...

I pity the female marketers

Adesiji77:
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...

na only God go help marketers now o!

[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.

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

psucc:
I don't know how good you will try to explain this.
To me, we should always weigh the pros and the con of every policy. The operation cum advantages of the TSA will affect the Nigerian economy negatively than what we are told. From inadequate fund to enhance bank lending to the investing public to staff layoff.
Nigeria cannot afford to cope with TSA.

Banking sector is a real tool for embezzlement/diversion of public funds in the hands of politicians: the earlier you realize this, the better.

Chai!bankers don suffer ;DChai!bankers don suffer

@O.P, which other countries use TSA a art from Nigeria, and what has been it's impact on their economy/real sector?

tolexy007:
anybody to summarize this thing for me? pls

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

[quote author=luminousity post=38003497][/quote]
MDA's means government Ministries, Departments and Agencies.

[quote author=luminousity post=38003497][/quote]

Ministries , Department and Agencies

MDA

Bevista:
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.

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

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.

psucc:
I don't know how good you will try to explain this.
To me, we should always weigh the pros and the con of every policy. The operation cum advantages of the TSA will affect the Nigerian economy negatively than what we are told. From inadequate fund to enhance bank lending to the investing public to staff layoff.
Nigeria cannot afford to cope with TSA.

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?

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.

ruffhandu:
So only those at CBN and Ministry of Finance will continue the "money chopping" game? The leakage simply changed route, for now at least.

I've laughed my Tommy out please I can't shout o!

psucc:
I don't know how good you will try to explain this.
To me, we should always weigh the pros and the con of every policy. The operation cum advantages of the TSA will affect the Nigerian economy negatively than what we are told. From inadequate fund to enhance bank lending to the investing public to staff layoff.
Nigeria cannot afford to cope with TSA.

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

[quote author=luminousity post=38003497][/quote]
Ministries, Departments and Agencies

For the first time am seeing intellectual discuss devoid of primordial sentiment