出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：Treasury Single Account (TSA) is one of the several measures adopted by the Federal Government of Nigeria to address the issue of lack of accountability and corruption in fiscal operations in the Public Sector. It is a financial policy, which requires all Ministries, Departments and Agencies (MDAs) to move their deposits with commercial banks into a single account with the Central Bank of Nigeria (CBN). The consolidation is to ensure accountability, enhance transparency and curb corrupt practices associated with management of public funds. The objective of this paper is to appraise the policy impact with a view to proffering solution to the identified gaps. Questionnaires were administered to gather views of individuals and institutions. Secondly, data were equally gathered and analyzed using survey and exploratory research design. The study revealed various sheds of opinion: while bankers decry the distortion of their liquidity management plan, the federal government on the other hand claims a huge success because it can now comment on its aggregate cash holding without the drudgery hitherto associated with getting to all commercial banks or MDAs with multiple accounts. The civil society agrees with government that the policy has brought about transparency in fiscal management. The paper concludes by drawing attention to the shock being experienced by the deposit money banks, which has led to downsizing of its personnel, and adopting other cost minimization measures. The adverse effects on lending capacity with resultant effect on operations of the banks and companies which would ultimately result in lower profits and companies’ income tax to the federal government gave the basis for recommending adequate education to elicit buy-in of all stakeholders and building into the policy a transitional window. The federal government is also advised to engage in sensitivity analysis to avoid unanticipated drop in GDP resulting from folding up of companies, which are not able to withstand the sudden financial jolt. Keywords: Treasury Single account, fiscal operations, lending capacity liquidity, deposit money banks, spending units (SUs).
其他摘要：Treasury Single Account (TSA) is one of the several measures adopted by the Federal Government of Nigeria to address the issue of lack of accountability and corruption in fiscal operations in the Public Sector. It is a financial policy, which requires all Ministries, Departments and Agencies (MDAs) to move their deposits with commercial banks into a single account with the Central Bank of Nigeria (CBN). The consolidation is to ensure accountability, enhance transparency and curb corrupt practices associated with management of public funds. The objective of this paper is to appraise the policy impact with a view to proffering solution to the identified gaps. Questionnaires were administered to gather views of individuals and institutions. Secondly, data were equally gathered and analyzed using survey and exploratory research design. The study revealed various sheds of opinion: while bankers decry the distortion of their liquidity management plan, the federal government on the other hand claims a huge success because it can now comment on its aggregate cash holding without the drudgery hitherto associated with getting to all commercial banks or MDAs with multiple accounts. The civil society agrees with government that the policy has brought about transparency in fiscal management. The paper concludes by drawing attention to the shock being experienced by the deposit money banks, which has led to downsizing of its personnel, and adopting other cost minimization measures. The adverse effects on lending capacity with resultant effect on operations of the banks and companies which would ultimately result in lower profits and companies’ income tax to the federal government gave the basis for recommending adequate education to elicit buy-in of all stakeholders and building into the policy a transitional window. The federal government is also advised to engage in sensitivity analysis to avoid unanticipated drop in GDP resulting from folding up of companies, which are not able to withstand the sudden financial jolt. Keywords: Treasury Single account, fiscal operations, lending capacity liquidity, deposit money banks, spending units (SUs).
关键词：Treasury Single account; fiscal operations; lending capacity liquidity; deposit money banks; spending units (SUs).
