Government banking arrangements are crucial for efficient and effective management and control of government’s cash resources. Treasury Single Account (TSA) is a strategy designed to provide a framework that would minimize the cost of government borrowing, maximize the opportunity gain of cash resources and harmonize fragmented government receipts and payments accounts.
Prior to TSA policy, Federal Government has fragmented government banking arrangements that hinder effective cash management and control over cash balances. MDAs maintain multiple bank accounts in CBN and Deposit Money Banks (DMBs), and with huge idle cash sitting in most DMBs, yet MDAs borrow through CBN’s Ways and Means advances and capital Market with associated cost.
The Federal Government in collaboration with CBN and other key stakeholders initiated the TSA as one of the major economic reforms that commenced in 2004 through the IMF/World Bank Assisted Programme to improve prudent governance and financial resource management and control framework to move the nation’s economy out of the current doldrums.
This training workshop is therefore designed to acquaint and equip the participants with the requisite knowledge, skills and competencies of Treasure Single Account Operation especially as a strategy and technique to improve public sector revenue base and enhance transparency and accountability in the management of government cash flow.
At the end of the workshop, participants will be able to:
- Define the concept and key features of treasury single account (TSA) as used in the current public sector financial management and control in Nigeria
- Identify the major objectives and benefits of TSA
- Describe TSA models, elements and infrastructure
- Enumerate the role of CBN in the operation of TSA
- Develop TSA process flow chart and structure
- Carry out transactions processing under a TSA system in terms of receipts, payments and accounting;
- Identify challenges and success factors associated with TSA implementation; and
- Develop strategies and techniques for increasing public sector revenues.
- Public sector economic reforms and revenue improvement strategies in Nigeria since 2004.
- Concepts and features of treasury single account (TSA).
- The main objectives and benefits of TSA.
- TSA models, elements and infrastructures
- Role of CBN in the operation of TSA.
- Federal government and TSA implementation status
- TSA / federation accounts process flow chart and structure.
- Transaction processing under a TSA system.
- Receipts, payments and accounting processes under TSA system.
- TSA main challenges and critical success factors.
- TSA and budget implementation process.
Methodology: Lectures, discussions, syndicate work, case studies and exercises. Audio-visual aids will be used to reinforce these learning methods.
The course is designed for finance, planning and budget officers at the federal, state and local government levels, service managers, accountants, auditors, financial trainers, financial analysts and civil society interested in finance management matters.
Mode Of Assessment For Certification: 100 per cent attendance / active participation.
Contact Person: Mr. R. F. Elebesunu