TREASURY SINGLE ACCOUNT: A TOOL FOR PREVENTING LEAKAGES AND ENHANCING ACCOUNTABILITY OF PUBLIC FUNDS IN NIGERIA
Authors:
Adeagbo, Khadijat Ayobami & Oladeji, Waheed Solagbade
Abstract:
This purpose of this is to appraise the effectiveness of Treasury Single Account in serving as a tool for preventing leakages and enhancing the accountability of public funds in ministries, departments and agencies of government in Nigeria. The survey research design was employed. Descriptive statistics of percentages, mean and standard deviation were used to analyze respondents’ opinions to the questionnaire using 5 Likert scales while regression was used for hypotheses testing. Judgemental sampling technique was adopted to select 120 workers from 7 MDAs and institutions. An overall mean score of 4.0 and 4.1 was derived for the research questions, indicating that respondents agreed that TSA prevents leakages and enhance proper accountability of public funds in Nigeria. Regression analysis results confirmed the significance of TSA in preventing leakages and enhancing of proper accountability of public funds with (F value = 599.94, p = .000) and (F value = 1000.13, p = .000) respectively. These results showed that TSA serves as a tool for preventing leakages and enhance proper accountability of public funds in Nigeria. It was recommended that government should review controls put in place for TSA operation always for early detection of defective controls.