Operationalisation of Treasury Single Account and Fund Management: A Perception of Accounting Practitioners in Nigeria
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Date
2019
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Department of Accounting & Finance and Business Administration, Fountain University
Abstract
Treasury single account being a combined arrangement of government bank accounts allows the efficient management of public cash and also enables consistent monitoring of cash balances of government account. The high rate of corruption bedevilling Nigeria economy coupled with the recent financial crunch have necessitated operationalisation of the constitutional tool (TSA) across government ministries, parastatals, and extra ministerial departments with the primary goal of reducing the siphoning of government fund, boosting revenue collection, and ensuring effective fund management. This study investigated the role of operationalised TSA in fund management by eliciting the opinion of accounting practitioners across northern and southern part of Nigeria. Specifically, the study evaluated the factors influencing the operationalisation of treasury single account as well as investigated the role of treasury single account on effective fund management. Finally, the study evaluated the effect of treasury single account on government transparency. The study employed primary data through administration of structured questionnaire. Descriptive statistics and ordered logistic regression were used in analysing the data for the study. The study revealed that operationalised TSA impacts on effective management of fund and enhances government transparency. The study therefore recommended that government in its efforts to develop a sound and judicious management of government resources should ensure that all treasuries are kept in a single account.
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Keywords
TSA, Fund Management, Public Resources, Government Transparency, Corruption