NEAF asks Buhari to influence implementation of TSA policy across Africa

An economic advocacy group, Nigeria Economic Advancement Forum (NEAF), has asked President Muhammadu Buhari to influence the implementation of Treasury Single Account (TSA) policy across the African continent to curb corruption.

“The exemplary anti-corruption posture of the President Muhammadu Buhari-led administration which has produced tremendous results in the public financial management system of the country can also be replicated for the economic furtherance of the continent,” NEAF said in a statement.

The group opined that the implementation of the policy in 2015 spurred the overarching objective of elevating Nigeria to the status of “the most economically advanced countries of the world and it will be noble to have other African countries benefit from it as well.”\

While commending SystemSpecs, a Lagos-based company that drove the policy through its Remita technology, NEAF noted that such an initiative should be a national legacy and deserves an award.

The group said the interest shown by other African countries like the Republic of Gambia and Kenya in the TSA was an indication of the value that the policy has added to Nigeria.

NEAF stated that a mission from the Republic of the Gambia led by the Permanent Secretary of its finance and economic affairs ministry, Ada Gaye, “alluded to a recommendation by the International Monetary Fund (IMF) to understudy the TSA process of Nigeria which included extensive interactions with the government and SystemSpecs.”

“In addition, news has also circulated about the forthcoming understudying of the policy by Ethiopia and Kenya.”

The group, however, alleged that some ‘corrupt entities’ were already plotting to sabotage efforts of the government in improving the public financial management system of the country.

NEAF, which stated that the ‘corrupt entities’ has upped their plots by discrediting the process (TSA), said a tragedy will befall the country if the ‘sabotage’ against the policy succeeds.

“Truncating the success of the TSA will completely set the country back into the doldrums of financial impropriety that resulted on losses of trillions of naira… some people are busy machinating the destruction of the very foundation of the initiative,” the group said.