The idea of treasury single account is control fraud and other financial irregularities in Nigeria. But the from my own point of view I think the federal government of Nigeria didn’t do much as to balance the economy of Nigeria even after the inception of treasury single account.
For example there is huge decline in loan and advances (LOA) in the banking sector not only that; the issue of idle money has also being on the increase. The result of idle money and decline in loan and advances (LOA) has led to low productivity in the manufacturing industry because those that seek for loan can no longer gain easy access to loan.
Inasmuch as the level of fraud and other financial irregularities reduced and the money available in the government account has increased; there is huge decline in socio-economic well being of SMEs owners and other business in the service sector and also these have significant effect of the Nigeria economy. The most disturbing part of it is….. continue reading>>DEL2