<P> Treasury Single Account (TSA) is a financial policy in use in several countries all over the world . It was proposed and partially implemented by the federal government of Nigeria in 2012 under the Jonathan Administration - and fully implemented by the Buhari Administration . to consolidate all inflows from all agencies of government into a single account at the Central Bank of Nigeria . </P> <P> Efficient management and control of government's cash resources rely on government banking arrangements . Nigeria, like many low income countries, employed fragmented systems in handling government receipts and payments . Establishing a unified structure as recommended by the IMF, where all government funds are collected in one account would reduce borrowing costs, extend credit and improve government's fiscal policy among other benefits to government . The IMF also recommends the establishment of a legal basis to ensure its robustness and stability . The introduction of the Treasury Single Account policy therefore was vital in reducing the proliferation of bank accounts operated by ministries, departments and agencies (MDAs) towards promoting financial accountability among governmental organs . The compliance of the policy in Nigeria created challenges for majority of the MDAs . Commercial banks in Nigeria remitted over 2 trillion Naira worth of idle and active governments deposits with full implementation of this policy in 2016 . Meanwhile, the bankers committee of the country has declared their support for the policy . Through Remita, the integrated electronic payments and collections platform developed by a company called (http://www.systemspecs.com.ng SystemSpecs, the TSA initiative has enabled the Federal Government of Nigeria to take full control of over 3 trillion Naira ($15 billion) of its cash assets as at the end of the first quarter of 2016 . </P>

When was treasury single account introduced in nigeria