TSA: Banks need not panic- AGF.

The Accountant – General of the Federation, AGF, Alh. Ahmed Idris, has said that Deposit Money Banks do not have to panic over the implementation of the Treasury Single Account, TSA, policy of the federal government.

He spoke in a brief interview at a reception by the Ahmadu Bello University Faculty of Administration ’84 set in his honour in Abuja at the weekend.

There have been concerns among the banks that the policy would lead to loss of business and jobs among workers in the sector.

However, Alh. Idris said that rather than negatively affecting the banking sector, the TSA would allow the banks to focus on core banking activities and even generate profit in the interests of the economy.

His words, “I don’t think this policy is expected to generate any panic or even loss of job. To the contrary, it will make the banks to focus more on core banking business and make profits”.

On the guidelines of the policy, he said, “We are on course. It is a policy of government and I don’t think there is any institution that doesn’t know what to do. The modalities are very clear. The guidelines are being developed which is being reviewed. It will soon be made public”.

Asked how soon the guidelines of the TSA would be released, Alh. Ahmed said, “Very soon. We want it out. We want people to know. It is coming very soon.”

The AGF said he was pleased to be honoured by his classmates and pledged to be their worthy ambassador of in the President Muhammadu Buhari government.

In an address at the event, Alh. Idris Saidu, one of the arrow heads of the organizers, said that the ’84 graduating set would support the AGF to enable him achieve his mandate, especially at a time that the federal government has set out to address the corruption menace in the country.

He charged the AGF to work hard towards bringing about the change that the nations very much desires, especially in the administration of public service.

“It is our prayer that your tenure in office will bring about the real change that we all have been clamouring for in Nigeria”, adding, “Your mates are also willing to offer services in whichever capacity to ensure efficient and effective running of the nation’s treasury”.