The Nigerian Airspace Management Agency (NAMA) has reaffirmed its committment to the presidential directive on total implementation of Treasury Single Account (TSA) in its transactions.
Capt. Fola Akinkuotu, General Manager, Nigerian Airspace Management Agency (NAMA) disclosed this in a statement issued by the NAMA Spokesman, Khalid Emele on Monday.
Akinkuotu said there was no going back on the Federal Government’s cashless policy and that it was an executive pronouncement that demanded total compliance from all stakeholders.
He appealed to non-scheduled operators to embrace the new initiative as the entire world was going cashless.
Akinkuotu assured them that the new system would yield positive results that would benefit the entire industry.
“This is an innovation that would not only improve and sanitise the nation’s financial system but also ensure accountability and transparency in the long run.
“If we desire an aviation industry that is globally competitive, we have to imbibe global best practices,” he said.
According to him, the associated risk and needless exposure associated with the old system of carrying cash around has ensured that it was no longer fashionable.
Akinkuotu said that with the directive, all financial transactions with the agency must be done through monetary transfers (only) into the NAMA TSA account domiciled with the Central Bank of Nigeria (CBN).
He added that the era of paying cash to Deposit Money Banks (DMBs) for onward delivery to the CBN had become history.