CBN Advises States To Adopt Treasury Single Account

The Central Bank of Nigeria, CBN on Wednesday in Abuja urged state governments to adopt the Treasury Single Account system of revenue deposits.

The Head of Client Services at CBN, Mr Kure Abubakar gave the advice in a lecture titled, "Understanding Treasury Single Account." The lecture was part of a two day workshop on Fiscal Responsibility Act.

Abubakar said that TSA if adopted would help the states to maximize their revenue

According to News Agency of Nigeria, NAN, the workshop was organized tor revenue generating ministries, departments and agencies of government.

Abubakar reminded the participants that sanctions would be meted on anyone who fails to comply with the TSA directive.