Malam Nasir El-Rufai has launched the Kaduna State Treasury Single Account, TSA, Operations Manual in Lagos during the International Monetary Fund’s West Africa workshop on TSA implementation.
A statement from the Special Assistant to the governor on Media and Publicity, Mr. Samuel Aruwan, said Malam El-Rufai, expressed gratitude to the IMF team for considering the implementation of TSA in Kaduna State a model.
He also acknowledged the efforts of the Kaduna State team and the support of other partners.
The governor said that Kaduna State was delighted to share information on how the state executed the TSA within six weeks last year.
The TSA, regarded as a policy tool that helps reduce waste and leakages, was announced in the state early in August 2015 with the intention to adopt the policy by 1 September 2015.
It requested its bankers to close all government accounts and to remit the balances to the state’s TSA at the Central Bank.
Having conducted a prior census of government accounts, the statement added that Kaduna was given a baseline figure of 324 accounts belonging to ministries, departments and agencies.
Explaining the motivation for the TSA, the statement said that the reality of sliding revenues compelled close attention to plug leakage and wastage.
It explained that the Treasury Single Account was a revenue management framework which consolidates government accounts into one major account, adding that it enhances the liquidity position of the government and makes it easier to trace and audit accounts.
The TSA Manual, it said, records the processes that laid the basis for successful execution of TSA in Kaduna State, the challenges that were encountered and the institutional steps taken to leverage on the benefits of the TSA.
It observed that the manual highlights the collaborations with multilateral partners and the technical assistance that Kaduna State received to actualise the policy.