The Federal Government is urging all countries that are yet to implement the Treasury Single Account account to do so without further delay.The Minister of Finance, Zainab Ahmed stated this during a visit by the delegation from The Gambia Ministry of Finance and Economic Affairs in Abuja to understudy the TSA.
Speaking during the event ,the Honourable Minister noted that the visit by the Gambia authority to understudy the TSA, is a reaffirmation that the system is working effectively.She harped on the fact that the TSA has helped the country tremendously in tracking all the finances that is coming in, and the one that is going out of the country.
“We are now looking at different options of transforming the economy, We want to bring foreign operations into the Treasury Single Account. At the same time we want to reconcile balances in the system.This is an opportunity for the two countries to work effectively”.In addition, she added that the country have not been able to integrate the revenue module, that only the budget model is working effectively .”
The Permanent Secretary,Ministry of Finance and Economics Affairs, Gambia, Madam Ada Gaye pointed out that her country is ready to implement the TSA with support from the International Monetary Fund.
According to her, with the implementation of the TSA ,the country is anticipating effective management of all government fund.
“We decided to come to Nigeria ,because we realized that the country is doing well in terms of implementation of the Treasury Single Account.
We constituted a committee that validated some findings ,and delegate tax revenue from commercial banks”.
The Auditor General of The Federation, Ahmed Idris said the Nigerian government is being acclaimed for the implementation of the TSA.
“It is not only in the area of TSA that Nigeria is making steady growth. The IPPIS is another initiative where the salaries are being paid singularly from a single budget.
The Gambia team is here to understudy the financial procedure, and take it to the next level”.