By Kester Omu
The implementation of the technology solution such the Treasury Single Account (TSA), has been able to help the Nigerian government to save N11 billion every month, the Accountant General of the Federation, Alhaji Ahmed Idris, has disclosed.
DailyTrust reports that the AGF stated this at the Lunch Term Seminar on “Common Challenges in the implementation of the TSA in the Nigerian Public Service” organised by the Bureau of Public Service Reform (BPSR) in Abuja, where he argues that if not for the TSA, the money would have been paid as interest on overdraft, account maintenance cost and others imposed by deposit money banks.
“Despite resistance and limited understanding of the federal government’s Treasury Single Account (TSA) is affecting its full implementation, the Federal Government has saved N11 billion each month as at the last count,” stated Idris, who was represented by the Deputy Director/Coordinator, TSA and e-collection, Mr Sylva Okolieaboh.
Idris listed the non-enrolment of key arms of government, capacity deficit, lack of clarity in stakeholder roles as well as conflicting directives and signals as the challenges bedeviling the full implementation of the scheme started some years ago.
Treasury Single Account is a unified structure of government bank accounts that gives a consolidated view of government cash resources. The initiative covers all funds, budgetary or extra-budgetary, under the control of Federal Government entities irrespective of arm of government.