THE IMPLICATIONS OF TREASURY SINGLE ACCOUNT (TSA) ON THE NIGERIAN BANKING SECTOR AND ECONOMY

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. To achieve the set objective, data was sort both from primary and secondary sources. Questionnaire items were designed from the research questions to assist the researcher to draw meaningful conclusions. This study adopted the chi-squared as its instrument for data analysis. From the data gathered, both from the respondents and computations (simple percentage and chi-square), it was discovered that the Treasury Single Account (TSA) has no significant adverse effect on the Nigerian banking sector. In terms of its effect on economic development, Treasury Single Account (TSA) also has a significant effect. It actually minimizes corruption, increases transparency in government activities by allowing for an efficient control and management of funds in its ministries, departments and agencies. It was therefore recommended that the Central Bank of Nigeria in conjunction with the Federal Government to enact policies that will guide the effective operation of the Treasury Single Account (TSA) and the financial affairs of the Nigerian economy. The compliance of the ministries, department and agencies of the Federal Government should be made to the key into project for an effect management of government cash resource.

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