Experts in accounting sector have stated the benefits of the Treasury Single Account introduced by the government

Experts in accounting sector have said that the Treasury Single Account introduced by the government is a unified accounting system that will block leakages and consolidate the finances of the government.
Speaking on an AKBC Current Affairs programme, “Discourse” the panelists said that the system will bring about transparency in public finance management as government will have complete control of her finances at any given time.
The panelists comprising two retired Accountant Generals-Sir Udo Isobara and Mr. Umanaette Udo and a lecturer of business management, Dr. Paul Udofot said that the measures will bring about competition in the banking sector as banks will have to calibrate their operations and focus on stimulating a private sector driven economy.
They however, encouraged the government to spell out guidelines on the operation of Ministries, Departments and Agencies of government, arguing also, that there is need for synergy among the three levels of government for the success of the accounting sector.

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