IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 8 NO. 4 2022
DOI: https://www.doi.org/10.56201/jafm.v8.no4.2022.pg143.162

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Implementation of the Treasury Single Account System on Public Financial Management in Nigeria

Okore Amah Okore, PhD, Okolie, Jonathan Ibekwe, Okolie, David Ogomegbunam

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Abstract

The objective of the study was to appraise the effect of the implementation of the Treasury Single Account System on Public Financial Management in Nigeria. The survey research design was used and a sample of 246 was selected. Result of the findings revealed that, there is a significant benefit of the implementation of the Treasury Single Account System by Ministries, Departments and Agencies in Nigerian; the implementation of the Treasury Single Account System has positive significant effect on Public Financial Management in Nigeria; there is positive and significant relationship between the implementation of the Treasury Single Account System and Economic Growth and Development in Nigeria and significant challenges are encountered by Nigerian Ministries, Department and Agencies in the Implementation of the Treasury Single Account System. Hence the study recommended that the government should create appropriate enabling environments and legislative supports for the policy to bring about desired success and intended goals. Government should make available infrastructural facilities and technological equipment for the MDAs for effective take-off of the policy in respective locations where it is not yet implemented. Only a properly tailored and monitored TSA policy can achieve its desired purpose and serve as an effective tool in Public fund Management.

keywords:

Implementation; Treasury; Single; Account; Public Finance; Management

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