Treasury Single Account: An Instrument Of Paradigm Shift For The Banking Sector Of Nigeria
ABSTRACT
This study examined the treasury single account, as an instrument of paradigm shift for the banking sector in Nigeria. The objective was to investigate how much impact the implementation of the TSA has made on the operations and profitability of Nigerian banks. Primary data was sourced from questionnaires administered to staff of three money deposit banks with offices in Lagos, Abuja and Port Harcourt. The dependent variable in the study was the banking sector while the independent variable was the treasury single account. Simple percentages were used to analyses the respondents while the Anova was used to test the hypotheses with the aid of statistical package for social sciences (SPSS). Analysis from the respondents and the hypothesis found that treasury single account significantly influences the operations and profitability of Nigerian banks. It was therefore recommended, among others, that banks should source funds from other sectors of the economy in order to enhance their operations and increase their profitability.