Legal, Theoretical and Conceptual Framework of Treasury Single Account (TSA) Under the Nigerian Constitution

This work looks at the importance of TSA to the Nigeria economy 

Abstract

Government banking arrangement are  an important factor for efficient management and control of government cash resources, such banking arrangement  should be designed  to minimize the opportunity cost of cash resources, this requires that all cash received is available for carrying out government expenditure programs and making payments in a timely fashion. Many emerging market and low-income countries have fragmented system for handling government receipts and payment in these countries, the ministry of finance/treasury lacks a unified view and centralized control over government cash resources. As a result, this cash lies idle for extended periods in numerous banks account held by spending agencies while the government continue to borrow to execute its budget. Thus, the need for a Consolidated Revenue Account to receive all government revenue and effect payments through this account. The objective of this study therefore, is to examine the theoretical and conceptual framework of TSA, the implementation at state level, benefits aimed at improving liquidity in the economy by plugging loopholes which marked the proliferation of several fragmented accounts for government revenues, incomes and receipts and suggest mechanisms for effective implementation