Treasury Single Account and Nigeria’s Economy Between 1999 and 2015: An Assessment

Treasury Single Account and Nigeria’s Economy Between 1999 and 2015: An Assessment

Author by Dr. James .a Oguntodu

Journal/Publisher: Journal Of Accounting And Financial Management

Volume/Edition: 2

Language: English

Pages: 61 - 75

Abstract

Abstract
This research work was carried out with the expectation to establish the impact of treasury single account on Nigeria’s Economy. A treasury single account is a pool in which all government revenue is collected and controlled by the Central Bank of Nigeria, with the view to boost the economy and reduce corruption. CBN statistical bulletin (1999-2015) was analyzed using the OLS estimator. To this effect, an empirical analysis of the relationship between Treasury Single Account and economic performance in Nigeria was carried out. The result shows that the Treasury Single Account has a positive significant impact on the country’s economic growth but this impact is limited by various factors, one of them being the recent implementation of the policy in Nigeria which made the discovery of historical data difficult. The recommendation of this study is that the federal government of Nigeria should initiate policies and various means to make sure that there are proper accountings of the funds entering into the Treasury Single Account, and that such fund should follows due process. Also that any subsequent foul play by any agencies, or even the CBN is duly prosecuted.


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