Introduction
The Nigerian government has decided to engage banking procedures that constitute a great advantage for the management of a well-organized and control of government finances. To this end, the need to design banking procedures that reduce the cost of "government borrowing" and maximize the opportunity for monetary resources of the cost of the most important utmost to ensure that all cash receipts available for settlement in a timely manner of government expenditures and payments. By TSA, the Nigerian government is working loose from the receipts and payments which, of course system, that will make it extremely difficult to ensure that mixed financial resources for the country's position. As a result of this, the government lacks a central financial control of financial resources and also lack the capacity to implement the budget without borrowing even while you put the unused government finances mega ministries spending, departments and agencies accounts (MDAs) in the banks' various deposit money.
TSA is indispensable for the promotion and management of government cash resources tool in order to reduce the borrowing costs associated with the government banking procedures fragmented. TSA is also currently the preferred choice of the agenda public financial management reform in the world.
TSA is mixed with government bank accounts structure to ensure a comprehensive view of government cash resources through a set of principles. The principles of "monetary union" and "Treasury" is the simplest basis TSA must be good. TSA is a collection of related bank accounts through which all transactions receive government payment procedure, and to allow for a complete and timely information on government cash resources. It is expected that the Integrated Government Financial Management Information System (GIFMIS) to facilitate real-time update daily balance. And it will face the government is able to effectively control the cash resources of the multi-institutional shortcomings problems.
benefits TSA
and the main aim of the operation of TSA non-cash budget, and this is to ensure the efficiency and effectiveness of the collection, consolidation and control of government cash resources. Enhance cash resources through an arrangement TSA makes possible government cash management by eliminating the cost of borrowing unnecessary. In the presence of TSA, it is easily assemble idle cash resources and utilize them for the benefit of the development goals of the government. Asides from the benefits of the cash management and budgetary TSA's, there are other goals to create a Transportation Security Administration, which include:
(1). Reduce the cost of operations during the implementation of the budget:
a. Especially by controlling the delay in the conversion of all government revenues by agents collect
b. Making immediate payments for the expenses of the government
(2). Ease the reconciliation of the government's financial statements and records
(3). Effective control and monitor allocated to the various MDAs government funds
(4). Provide coordination and implementation of monetary policy, the Government of
superiorbecause the central bank is the bank from the government, so they must have custody of the TSA with the central bank. With particular regard to revenue collection, and government banking procedures from several may consist bank accounts, which can be maintained with commercial banks but they must be cleared of cash balances in all government accounts this newspaper and swept for TSA's main treasury account at the central bank. Locate the TSA in the central bank offers advantages including:
(1). With the Central Bank as a clearing house for government operations, and a separate obligations and responsibilities of all participating banks (the Central Bank of Nigeria and the various commercial banks) as clear policies for banking procedures
(2). Reduce government exposure to credit risk and provide safety for cash deposits Government
(3). Government liquidity efficiently management through central bank coordination of cash Profile government along with the debt obligations of governments
(4). Government banking procedures became more rapid and cost-effective
features of the Transportation Security Administration well organized
drain excess liquidity from commercial banks through the open market operations in order to prevent reckless provide credits by commercial banks impose costs on the central bank. To prevent this, and many other problems, it must be good TSA following features:
(1). A unified structure for the banking procedures of government to improve the government's ability to control cash flows (both inside and outside Alriasa- TSA and semi TSAs)
(2). Electronic banking platform that ensures reciprocity in real time from all regardless cash consideration of end-use by distinguishing individual cash transactions for control and reporting purposes, after allowing for interoperability with other funds of the same type during the accounting system and thus creating a cash management system along to control the level of transactions
(3). Strengthen government cash resources become comprehensive and includes all cash government
(4). Access and operation of the TSA mainly rely on institutional structures and settle payments systems
Conclusion
Should That there is a need for the involvement of commercial banks in the run TSA in Nigeria, the Central Bank of Nigeria starred with maintaining the TSA must ensure that banking transactions for individuals, the government effectively and efficiently through commercial banks play in ensuring that turn all federal government entities (MDAs) and transactions It is captured well. Independent government entities and social security funds, trust funds, and funds outside the budget and loans from donor agencies and multilateral organizations should also be covered by the TSA. It is important to expand the operations of the Transportation Security Administration to the other levels of government (state and local) through the use of sub-TSAs and where this is not possible, it should be forced to all state government or local to establish the Transportation Security Administration on their own from the government level.
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