‘Over N30trn has passed through TSA in four years’
Since the implementation of the Treasury Single Account (TSA) from 2015 to date, about N30trillion has been processed through the platform.
This N30trn comprised both payments and withdrawals using the TSA platforms, an official has said.
Mr. Sylva Okolieaboh, Director/ Coordinator, Treasury Single Account/eCollection disclosed this yesterday in an interview with our correspondent at the side-lines of the official visit of the delegation from the Gambian Ministry of Finance and Economic Affairs to understudy federal government of Nigeria TSA.
“If you are looking at transactions in terms of turnover, we have done about N30trn but remember money is in and out’’, he said.
He said Nigeria’s TSA model has been a success story which is why other countries have indicated interest to under study Nigeria’s model.
“We’ve done a very good job of the TSA. We are happy the world appreciates what we are doing. The Gambia is here, we are expecting Ethiopia and others,” he said.
Mr. Okolieaboh also said the impact of the TSA policy has been huge even though the judiciary and the National Assembly have refused to get on the TSA.
“As far as I know and I have been part of the public finance management reforms for a long time. There are no other reforms in Nigeria that has made as much impact and gained as much traction as the TSA. It’s an all-inclusive reform. Almost everyone is in. We did this within a small time frame and we have stabilized it,” he added.
In terms of coverage he said “everybody is in the TSA apart from the judiciary and the National Assemble. Their noninvolvement is a little bit political but we intend to look into it in the coming months,” he assured.
He said the TSA software provider; Systemspecs has facilitated a whole lot to make the TSA implementation seamless.
“When the President gave an order in 2015 that the TSA be implemented, it was Systemspecs that made that possible. If they didn’t provide their platform at that time, it wouldn’t have been possible,” he said.