Therefore, treasury single account tsa is a public accounting system that uses a single account to ensure all government revenue, receipts and payments are performed through a consolidated revenue account cra at. The study examined the effects of treasury single account policy on corruption in nigeria. By the end of the research work, we shall be able to know the effect of treasury single account on the economic development of nigeria. The treasury single account has been implemented in different countries. To achieve the set objective, data was sort both from primary and secondary sources. It is believed that the treasury single account will help to monitor the government revenue.
A standard treasury single account is organized along the following lines. Effect of treasury single accounts tsa on the performance of. To monitor the impact of treasury single account towards fraud eradication. A theoretical perspective conference paper pdf available july 2017 with 37,903 reads how we measure reads. Single account on government revenue and economic growth in nigeria. In this study, we developed multivariate model for the study of the impact of treasury single account tsa on the performance of banks in nigeria. Tsa refers to treasury single account, a public accounting system using a single account, or a set of linked accounts by government to ensure all revenue receipts and payments are done through.
Advantages and disadvantages of treasury single account in. Treasury single account tsa was introduced to curb corruption in the countrys public accounting. It was concluded that nigeria being a country with great potential, a vibrant, accountable and working treasury single account is required to drive economic growth and development of the nation. Tsa was carefully planned out for capital formation and reduction of revenue leakages.
Treasury single account policy and government revenue in. With the nigeria model of tsa, the cbn opened a consolidated revenue account in which all mdas remits all revenue collections into single account through the deposit money banks approved by cbn. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Treasury single account is a pool in which all government revenue is collected and controlled by the central bank of nigeria, with the view to boost the econ omy and reduce corruption7. Treasury single account tsa in nigeria and mdas which serve as means of. Accordingly, establishing a unified structure of government bank accounts via a treasury single account would go a long way in solving the above and many other problems. According to the the adoption of a treasury single account tsa by the federal and some state governments is seen by many as aimed. Chukwu i 2015 can treasury single account tsa work in nigeria. Imperative of treasury single account tsa in nigeria.
The adoption of a treasury single account tsa by the federal and some state governments is seen by many as aimed at plugging loopholes in the nigerian financial system. The nexus of treasury single account policy in nigeria. The operation of the treasury single account in nigeria has not been without controversies. Following the directive of president muhammadu buhari in august 2015, federal ministries, departments and agencies mdas are to implement the treasury single account tsa with immediate effect. Impact of treasury single account on government revenue and. The population of the study consisted of 6393 staff from the federal ministries, departments and agencies mdas in rivers state. It is an account maintained by the treasury with the central bank to account for 1 all receipts arising from. Treasury single account treasury single account tsa refers to a bank account with a set of linked accounts through which the government through the treasury transacts all its receipts and disbursements. Benin, nigeria abstract the implementation of tsa treasury single account policy following the order for full compliance of all mdas by the present government since september 2015 is laudable and timely given the current economic challenges as a result of the dwindling oil revenues and constrained. Treasury single account in nigeria 10 benefits legit. The study adopted a cross sectional survey design and used questionnaire to generate its data. We have already mentioned one advantage, but there are at least nine more. Impact of treasury single account on government revenue and economic growth in nigeria. The 2017 international conference on african entrepreneurship and innovation for sustainable development aeisd 558 chapter 38 treasury single account tsa in nigeria.
Impact of treasury single account on the performance of the. Treasury single account tsa is a financial policy in use in several countries all over the world. Treasury single account, which shall be maintained at nigerias apex bank cbn will unite the government policy for better cash resources management and. Treasury single account is a public accounting system under which all government revenue, receipts and income are collected into one single account, usually maintained by the countrys. Consequences of the treasury single account policy on the wealth of nigerian commercial banks shareholders.
Yusuf maiwada bashir department of accounting and finance faculty of management sciences atb university bauchi, nigeria. In diamond bank nigeria plc, we observed that there were negative. Treasury single account policy and government revenue in nigeria. Eme oi, chukwurah dc 2015 an analysis of pros and cons treasury single account policy in nigeria. The tsa has been defined as a process and tool that unifies all government accounts in a single unit for the effective management of its finances. It was proposed by the federal government of nigeria in 2012 under the jonathan administration and was fully implemented by the buhari administration. The impact of treasury single account on the liquidity of. Impact of treasury single account on the performance of the banking sector in nigeria 1ndubuaku victor c. Effects of treasury single account on public finance management in nigeria dr. From the study, we discovered that there was no significant difference between the period before and after the introduction of the tsa policy on the performance of banks in nigeria.
Treasury single account tsa is one of the financial policies implemented by the federal government of nigeria to consolidate all the revenue from all mdas in the country by way of deposit into commercial banks traceable into a single account at the central bank of nigeria kanu, 2016. The central bank of nigeria cbn, in exercise of its powers, as provided in the cbn. The policy is a vital instrument devised by finance division for improved public finance management with the objective of timely availability of cash to meet. The key objectives of this modern cash management are timely. The impact of treasury single account tsa on commercial. Treasury single account archives the guardian nigeria. It was introduced by the federal government of nigeria in 2015 to consolidate all inflows from all. Impact of treasury single account on the performance of. Concept, design and implementation issues prepared by sailendra pattanayak and israel fainboim authorized for distribution by marco cangiano and michel lazare may 2010 a treasury single account tsa is an essential tool for consolidating and managing governments cash resources, thus minimizing borrowing costs. Effect of treasury single account tsa on deposit money. The objective of this paper is to discuss the objectives, pros and cons of a treasury single account recently introduced by the buhari administration.
The implications of treasury single account tsa on the nigerian banking sector and economy abstract this study was embarked upon by the researcher to ascertain the implication of the treasury single account tsa on the nigerian banking sector and the nigerian economy as a whole. It provides a number of other benefits and thereby enhances the overall effective. This research will be a contribution to the body of literature in the area of the effect of personality trait on students academic performance, thereby constituting the empirical literature for. Effects of treasury single account on public finance. Implication of treasury single account on nigeria economy. The treasury single account tsa policy came into being by the federal government of nigeria to minimize or completely block all financial leakages in other to promote transparency and to reduce the level of mismanagement of governments revenue, the essence of treasury single account is majorly to bring all government accounts together. On tuesday, 10 november 2015, dino melaye, a nigerian senator representing kogi west in nigeria, raised a motion that the operation of the treasury single account tsa be investigated for possible corruption. President of nigeria, muhammad buharis directive to all federal ministries, departments and agencies mdas to start paying all government revenues, incomes and other receipts into a unified pool of single account with the central bank of nigeria cbn, is a bold and highly commendable move directed at one of the bastions of corruption in. It is in this regard that the present author wishes to find out the effects benefits and challenges of introducing tsa in nigeria. Nov 06, 2016 the treasury single account is a financial tool that unifies all government accounts in a single pool for effective cash management. Benin, nigeria abstract the implementation of tsatreasury single account policy following the order for full compliance of all mdas by the present government since september 2015 is laudable and timely given the current economic challenges as a result of the dwindling oil revenues and constrained.
Pdf the treasury single account tsa as an instrument. This study examined the nature, origin, challenges and lesion for nigerian experience of the treasury single account. Pdf impact of treasury single account on the performance. In accordance with the name tsa, it pools and unifies all government accounts through a single treasury account. This study, therefore, dwells majorly on the pronouncement of nigeria government on the treasury single account nigeria. Therefore, treasury single account tsa is a public accounting system that uses a single account to ensure all government revenue, receipts and payments are performed through a consolidated revenue account cra at the central bank of nigeria cbn. Treasury single account is a financial management system in which all government revenue are paid directly into a single account. The treasury single account is a process and tool for effective management of government. An overview of the treasury single account tsa plac legist. Introduction treasury single account tsa is a financial policy used in several countries all over the world. Adams d 2015 cbn advises states to adopt treasury single account. The objective of this study is to underscore the fact that though there was regime change yet there is continuity in the policy of treasury single account. The director, treasury single account tsa, office of the accountant general of the federation, sylva okolieaboh, has rated the treasury single account tsa. To investigate the relationship between treasury single account and the gross domestic product of nigeria.
Effect of treasury single account on the economy of nigeria. Effects of treasury single account policy on corruption in. Under the centralised tsa model, all government revenue is paid into a single account and only the central authoritytreasury that has the power to make payment. It is also said that it was created to stifle the corruption in nigeria and other countries as well. The central bank of nigeria cbn, in exercise of its powers, as provided in the cbn act, 2007, section 47, sub section 22d, hereby issues the following guidelines on the management and operation of the treasury single account tsa, hosted with the cbn, by state governments. This is achieved by establishing a unified structure of government bank accounts via a treasury single account tsa system. The impact of treasury single account tsa eas publisher. Firstly, the treasury single account is a public accounting system whereby government receipt, revenue and income are collected into one single account the central bank of nigeria is responsible for the maintenance and management on such account. A prepost design, international journal of academic research in business and social sciences, human resource management academic research society, international journal of academic research in business and social sciences, vol.
Treasury single account is a financial policy introduced by the federal government of nigeria in 2012 to consolidate all inflows from the countrys ministries, departments and agencies mdas by way of deposit into commercial banks, traceable into a single account at the central bank of nigeria. Pdf this study examined the nature, origin, challenges and lesion for nigerian experience of the treasury single account. Effect of treasury single account tsa on banks performance in nigeria. Against the backdrop from some quarters that president muhammadu buharis administration introduced treasury single account tsa as part of its anticorruption agenda campaign after its inauguration. Ofor, leonard emeka omaliko, francis chukwudi okoli. This study however does not in any way pretend to cover all matters relating to the treasury single account nigeria. The findings revealed that the treasury single account has a positive and statistically significant. Imperative of treasury single account tsa in nigeria pdf. Impact of treasury single account on government revenue. President of nigeria, muhammad buharis directive to all federal ministries, departments and agencies mdas to start paying all government revenues, incomes and other receipts into a unified pool of single account with the. Also, bashir 2016 used a sample of 72 respondents through judgment sampling to examine the effects treasury single account has on public finance management in nigeria. Head of service of the federation, federal secretariat, nigeria. Treasury single account international monetary fund.
Abstract the treasury single account tsa policy was introduced to block financial leakages, promote transparency. Generally, government banking arrangements have been seen as important factor in managing and controlling governments cash resources. Treasury single account tsa is a financial policy introduced by the federal government of nigeria in 2012 to consolidate all inflows from the countrys ministries, departments and agencies mdas by way of deposit into commercial banks, traceable into a single account at the central bank of nigeria. The article examines the nexus of treasury single account tsa policy in nigeria a developing economy. Cash management, government banking, economic growth, treasury single account, nigeria. The impact of treasury single account on the liquidity of banks. It ensures that all tax and nontax revenues are collected from all sources and payments due are made correctly in a timely manner and that governments cash balances are optimally managed to reduce borrowing costs. The treasury single account is a financial tool that unifies all government accounts in a single pool for effective cash management. Bank cash balances, bank deposits, economic growth, loans and advances, treasury.
The treasury needs now to focus more on active and effective cash management in a decentralized control system. As a result of economic challenges, central bank of nigeria was directed to open a consolidated revenue account where all government revenue, incomes and inflows are collected into one single account maintained by the central bank of nigeria cbn, 2014. A tsa is a prerequisite for modern cash management and is an effective tool for the ministry of financetreasury to establish oversight and centralized control over governments cash resources. Analysis of the impact of treasury single account on the. The outcome of this study will educate the nigeria populace on the prospects and challenges of treasury single account tsa on nigerian economy. The director, treasury single account tsa, office of the accountant general of the federation, sylva okolieaboh, has rated the treasury single account tsa almost 100 per cent in terms of. Treasury single account is a form of public accounting in which all government revenue, expenditure and profits are paid into a single account, traditionally. Pdf the bases and challenges of treasury single account.
1516 1284 859 1318 262 1285 1387 291 1371 870 1208 855 1169 813 1324 1183 274 1300 1325 548 495 647 34 832 393 174 561 47 1304 354 291 130 348 935 269 1473 1478 1069 548 1043