Treasury Single Account: A Catalyst for Public Financial Management in Nigeria
Abstract: Many developing and low-income countries have fragmented government banking arrangements that hinder effective cash management and control over cash balances. It is common to find multiple bank accounts in commercial banks belonging to different ministries/agencies, with idle cash. Therefore, this study examined Treasury Single Account (TSA) as a catalyst for enhancing efficient public financial management in Nigeria. The population of the study was 234 Top Management and Lower management of MDAs, commercial banks and CBN. The sample size of 178 representing 76% of the entire population from Top Management and Lower management were used for the study. A 12 item closed-ended assessment questionnaire entitled Treasury Single Account a catalyst for public financial management in Nigeria was developed and administered to 178 Top Management and Lower management out of which 144 representing 80% of sample size were satisfactorily returned. The method of data analysis was through Descriptive statistics using mean, mean set and standard deviations while Z-test was used to test the hypotheses. The finding revealed that there is no significant difference in the mean score of respondents on the extent TSA policy will affect the nation´s revenue drive, transparency and fight against corruption. The study recommended that government should put stringent measures on the defaulters in upholding the implementation of Treasury Single Account.
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Authors: Stephen I. Ocheni