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AG welcomes Treasury Single Account establishment

14 August 2015, 10:10 Okoro Chinedu

Lagos – The recent directive of President Muhammedu Buhari to establish and operate a Treasury Single Account (TSA) for the e-collection of Government Receipts will not negatively affect the operations of some specialised agencies.

This is according to the Accountant General of the Federation, Alhaji Ahmed Idris.

He said instead, the directive would rather improve the agencies’ efficiency and increase the rating of the nation’s economy.

Also Read: Funds welcomed to help Nigeria diversify economy

“The introduction of the TSA according to the Accountant General of the Federation, is not a punitive measure targeted at any government establishment or attempts to jeopardize the peace and stability of the university systems, but part of the reforms being introduced by this administration to institutionalize a more efficient and transparent management of public finances in the country,” said a spokesperson.

“He maintained that the TSA is aimed at creating a single pool where all government’s receipts are kept in one account, thus making it possible at a glance to know the state of all the accounts for planning and execution of government policies.”

Meanwhile, the leader of the delegation to the Accountant General, Prof Michael Faborode, who is also Secretary of the Committee of Vice Chancellors, expressed fears that the implementation of the TSA in the University system might distort the effective functioning of the university systems. 

- CAJ News

Tags tsa economy

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