TSA transactions hit N30trn as countries copy Nigeria’s model

ON MAY 14, 2019

BY EMMANUEL OKOGBA1

Federal Government transactions through the Treasury Single Account (TSA) now stands at over N30 trillion.

The coordinator of TSA in the Office of the Accountant-General of the Federation (AGF), Sylva Okolieaboh, disclosed this in Abuja yesterday while playing host to a Gambian delegation which is in Nigeria to understudy the implementation of the TSA. His words, “If you start from 2012 when we started the TSA, and you look at the volume of transactions, I think you will be looking at something in the region of N30trillion. But like I said, that is in terms of transaction volume, not in terms of balances or anything, so we are looking at turnover. So the turnover should be over N30 trillion. “When we started the full TSA implementation, sometime around March 2015, as at that time, a lot of people didn’t believe. We are very happy that as at today, what we are doing has attracted so much international attention. It is not only The Gambia, we are expecting Ethiopia in the next four weeks and then another country, maybe in the next six weeks and we are aware that the international community appreciates the strides we have made in implementing TSA in Nigeria.

Earlier, the Minister of Finance, Mrs. Zainab Ahmed, who also hosted the delegation in her office, said that the TSA has made the management of federal government funds much easier. According to her, the account which is domiciled with the Central Bank of Nigeria, CBN, as the account holder, with the Ministries Departments and Agencies (MDAs) as sub-account holders, runs on a Remita platform. In his remarks, The Gambian High Commissioner to Nigeria, H.E Amedou Taal, urged concerted efforts by the two countries and other members of the Economic Community of West African States, ECOWAS, towards achieving a single currency in the sub-region. According to him, a single currency in ECOWAS would facilitate trade and increase the movement of people and goods within the sub-region, a development he argued is critical to the advancement of the community. “If we can achieve a single currency within ECOWAS, it will help us in terms of trade, the people to people relations as well as the movement of people, goods and services,” he said.

https://www.vanguardngr.com/2019/05/tsa-transactions-hit-n30trn-as-countries-copy-nigerias-model/

Tell me the us, uk, and EU nations are copying Nigeria then I would know that we're on a progressive track

.

Hmm!

For every Kobo you pay, you pay N200' as commission
It's okay if they manage the account well Sha, but I'm sure there'll be a big issue over the way the TSA fund is being managed...just wait till the next administration They just popped up all the funds for themselves alone, that's how I see it.

So if we generated over #30trn, what do we have to show for it. I mean I know we pay salaries but #30trn is still a huge amount of cash anywhere in the world. This country may not be richest but she has enough money to give a decent life to her citizens if the politicians will it

TSA transactions reach 30Tril yet we are still borrowing. Until I start feeling the impact of what this government does then I know we are on the right tracks.

BlacSmit:
Tell me the us, uk, and EU nations are copying Nigeria then I would know that we're on a progressive track

This one no just get sense at all.

Yes I knw Nigeria has a lot of issues but this one I knw they got it right... It wld do u good if u stop hating and bad mouthing ur own country.

There is an adage that says it's only a bastard that use left hand to describe his father's house. Don't be a bastard pls.

All thanks to Goodluck Ebele Jonathan.

When You Said Countries Are Copying, I Thought You Meant ''Better Countries''.

That is Nextlevel good news

Gambia?......when i tot i will be seeing britain,spain, or even india sef.........mtcheewww

Transaction is not Savings or balances.
Turnover will be higher.
Gej conceived while Pmb Delivers.
Kudos to them.

Which country will copy Nigeria if not Chad or Somalia

All this interpretation on mind n paper. We need real situations, where all this forecast r translated practically in d lives of Nigerians.

michlins:
So if we generated over #30trn, what do we have to show for it. I mean I know we pay salaries but #30trn is still a huge amount of cash anywhere in the world. This country may not be richest but she has enough money to give a decent life to her citizens if the politicians will it

We did not generate 30trn....that represents the total amount of money that has passed via TSA from 2012 to date.


Which is about 4.5 trillion per annum if you calculate the average.

Christian111410:
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Mumu doesn't even know how to do a nice Photoshop. See Casting all over the Design.

See below