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FG to expand TSA coverage to boost e-Payments, e-Commerce

More use and advancements are coming the way of Treasury Single Account (TSA) of the federal government as efforts are on this year to incorporate agencies that are yet to be captured.

Speaking in Abuja at the opening of a two-day retreat on the TSA, the Minister of Finance, Kemi Adeosun explained that the Federal Government would expand the programme and continue to persuade statutory agencies to come under the Treasury Single Account.

While describing the policy implementation as a success story, the Minister hinted that government is already discussing with service providers said Government would improve the implementation and functionality of the TSA because of its huge benefits.

According to her, government would be reaching out to TSA service providers in order to allow other e-commerce and e-payment providers access the platform, which, according to her, is very important to make the TSA as competitive as possible, in terms of pricing.

She said “One of the challenges that we have is who should bear the cost of the TSA? Currently, it is being borne centrally but that is not sustainable. We are now working on how to stratify the various agencies. Those who should bear their own costs and costs that should be borne by the Government. This will be rolled out in this year”.

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