Treasury Single Account and Public Fund Management: A Study of Selected Federal Government Parastatals in Bayelsa State

Treasury Single Account and Public Fund Management: A Study of Selected Federal Government Parastatals in Bayelsa State

Author by Dr. Ayodeji Ajibade

Journal/Publisher: International Journal Of Scientific & Engineering Research

Volume/Edition: 9

Language: English

Pages: 890 - 902

Abstract

The impact of Treasury Single Account on Public Fund Management i Nigeria cannot be overemphasized. It was introduced to block financial leakages, promote transparency and prevent mismanagement of government's revenue, unifies all government accounts, enabling it to prevent revenue loss and mismanagement by revenue-generating agencies. The objective of this study is to determine the impact of Treasury Single Account on Public Fund Management. The specific objectives include; examining the impact of Treasury Single Account on Accountability of public funds; to determine the Impact of Treasury Single Account on Transparency of public funds. In order to achieve these objectives, the survey research design was adopted using primary data with the aid of a questionnaire distributed to selected federal government parastatals in Bayelsa state. Purposive sampling technique was used in selecting the federal government parastatals used. Regression analysis and the simple percentage were used to analyze the questionnaire obtained. The study adopted three (3) proxies of public fund management which are accountability, transparency and financial leakages. It was discovered, based on the findings of the study that, Treasury Single Account has a significant relationship with Public fund management proxies combined. This is represented by the p-value which gave 0.000, 0.001 and 0.003 for accountability, transparency and financial respectively. This is less than a 5% level of significance adopted for this study. The study concluded that Treasury Single Account expectedly improve accountability and transparency and as well reduce leakages in the financial system. Hence, the adoption of TSA should be encouraged by immense public enlightenment and clarification around the significance of the policy in other to nurture its success, the government should also shelter as soon as probable the appropriate statutory support to aid the appropriate regulatory atmosphere which will drive the effective implementation of the TSA


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