TSA Monthly Savings Hit N24.7b
The President Muhammadu Buhari implemented Treasury Single Account (TSA), has hit a whopping sum of N24.7 billion monthly, a Professor of Economics from Nassarawa State University, Uche Uwaleke, has said.
Speaking, on Monday, in Abuja, at the week-long leadership training programme organised under the auspices of the National Committee of Buhari Support Groups (NCBSG) for its coordinators nationwide, Prof. Uwaleke further argued that the sudden and unexpected drop in crude oil price from a peak of US$114.6pb in June 2014 to under US$30pb in February 2016 created financial crisis for the government.
“Effective implementation of the Treasury Single Account (TSA), entrenching transparency and accountability has contributed in improving the country’s savings. N108 billion has been saved from removal of maintenance fees payable to banks before TSA. The nation has been saving N24.7 billion monthly with the full implementation of the TSA and implementation of the Bank Verification Number (BVN), thus tackling corruption by plugging loopholes for siphoning of public fund and tracking of illicit funds through multiple accounts,” he said.