TREASURY SINGLE ACCOUNT ON IMPROVEMENT OF DEPOSIT MONEY BANKS IN NIGERIA

Abstract

This study ascertained the improvement of treasury single account on development of deposit money banks in Nigeria. The population of this study was staffs of banks in Benin City, Edo State. The research instrument used were questionnaire, tables, frequency and percentages in presenting and analyzing the data collected. Based on the data analysis, the study found that application of TSA helped minimize the fraudulent activities of the MDAs, although it led to unemployment in the banking sector at first due to the monitoring of government funds directly by the Ministry of Finance. Yet the implementation of TSA brought the idea of advancement in the Nigerian banking sector. The study recommended that Treasury Single Account should continue in Nigeria, also that the technology used in processing these transactions be improved from time to time.