Effects of Treasury Single Account Policy on Corruption in Nigeria

23 Pages Posted: 27 Mar 2017

See all articles by Chukwunonye Akujuru

Chukwunonye Akujuru

University of Calabar (UNICAL), Department of Public Administration; Port Harcourt Polytechnic

Newman Enyioko (PhD)

Medonice Consulting and Research Institute

Date Written: March 25, 2017

Abstract

The study examined the effects of treasury single account policy on corruption in Nigeria: analysis from 2011 to 2017. The study adopted a cross sectional survey design and used questionnaire to generate its data. The population of the study consisted of 6393 staff from the federal ministries, departments and agencies (MDAs) in Rivers State. The sample size of the study was determined at 377 staff through the use of Prof. Taro Yameme sample size method. The data were analyzed through the use of descriptive statistics. The study found that the treasury single account (TSA) policy was introduced to block financial leakages, reduce corruption, promote transparency and prevent mismanagement of government's revenue in public sector organisations. The study revealed that the major challenges hampering the effective and efficient implementation of the treasury single account (TSA) policy include: Inability of federal government to remit appropriately to the various MDAs, uncertainties underlying federal government inactions and actions, bottlenecks/bureaucracy, internet platform delays, inefficient human capital development and time wasting in the banks and payment points. It is evident from the study that the policy will pave the way for the timely payment and capturing of all revenues going into the government treasury, without the intermediation of multiple banking arrangements. The policy will also enable the government at the centre to know its cash position at any given time without any hindrance. The study therefore, recommends that government should secure as soon as possible the appropriate legislative support to facilitate the relevant regulatory environment which will drive the effective implementation of the treasury single account.

Keywords: Treasury Single Account, Corruption, Public Sector, Organisations, Nigeria

Suggested Citation

Akujuru, Chukwunonye and Enyioko, Newman, Effects of Treasury Single Account Policy on Corruption in Nigeria (March 25, 2017). Available at SSRN: https://ssrn.com/abstract=2940695 or http://dx.doi.org/10.2139/ssrn.2940695

Chukwunonye Akujuru

University of Calabar (UNICAL), Department of Public Administration ( email )

PMB 1115
Calabar, Cross River State
Nigeria

Port Harcourt Polytechnic ( email )

Rumuola
Port Harcourt, Rivers State
Nigeria

Newman Enyioko (Contact Author)

Medonice Consulting and Research Institute ( email )

2 Oromerueximgbu Street
Total Village, Aba Road
Port Harcourt, South-South 234
Nigeria

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