Treasury Single Account Policy in Nigeria: Performance, Challenges and Prospects

Abstract

The Treasury Single Account (TSA) policy was introduced by the Federal Government to  block financial leakages, promote transparency and prevent mismanagement of  government’s revenue, unifies all government accounts, enabling it prevent revenue loss  and mismanagement by revenue-generating agencies. This study examined the  performance, challenges and prospects of Treasury Single Account policy on the Public  Financial Management in Nigeria. The paper is qualitative in nature as it relied on  secondary data. Systems theory was used to guide the study. The result of this study  indicated that, adoption of TSA has blocked financial leakages, promoted transparency  and accountability largely in the Public Financial System. As a result, the paper  recommended for a synergy between the National Assembly and the Executive to enforce  compliance to the provisions of TSA by Ministries, Departments and Agencies (MDAs) at  all levels of government for national development.