ASSESSING THE EFFECTS OF TREASURY SINGLE ACCOUNT (TSA) ON THE NIGERIAN ECONOMY

SARATU LASSA JIM SULEIMAN, LENKA NICODEMUS MUSA, LEVI JOSEPH YILSU, TITUS YAKUBU JACOB

Abstract


This research ascertained the effect of implementation of Treasury Single Account (TSA), on the banking sector and the economy of Nigeria as a whole. The problem investigated revolves around non- remittance of revenue generated by the Ministries Departments Agencies and multiple bank accounts in money deposit banks (commercial banks), where
this money is being traded with at the expense of government approval. Both primary and secondary sources of data were used for the research. Questionnaires were used to collect the primary data. The Secondary data was obtained from books, internet and Journals. The non-parametric chi square distribution was used to test the hypothesis developed. It was
revealed from the analysis, that supervision exercised on MDA'S revenue generation and collection is not good enough. The study recommended that, transparency and accountability in resource control should be properly focused upon. The level of competence and knowledge of Treasury Single Account by the MDA'S is generally low and needs improvement. It is recommended that grail-defined re-training programmes and development packages be designed for the MDA'S and banks. Banks should explore other sources of liquidity for their survival, as the money remitted by MDAs need to be transferred to the Central Bank. This will consequently reduce the retrenchment of workers in the
banking sector and the number of unemployed in the economy.

Keywords


Treasury Single Account, Accountability, Transparency, Cash management, Consolidated Revenue Account.

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International Journal of Management Science Research ISSN ISSN 2536 – 605X(Print)

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