IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCIAL MANAGEMENT (IJEFM )

E-ISSN 2545-5966
P-ISSN 2695-1932
VOL. 7 NO. 5 2022
DOI: https://doi.org/10.56201/ijefm.v7.no5.2022.pg36.55

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Financial Indiscipline and Lack of Accountability in Public Sector in Enugu State

Prof. Ubesie, M.C., Okoh, Isaac Chibuzo, & Ejike, Chinedu Raphael

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Abstract

The study examined the financial indiscipline and lack of accountability in public sector in Enugu State. Specifically, the study sought to estimate the effect of financial indiscipline in public sector on economic sustainability of Nigeria, determine the effect of lack of accountability in public sector on economic sustainability of Nigeria and ascertain the level of accountability and financial discipline in public sector in Nigeria. A descriptive survey method was used for this study. The study was conducted in Enugu. The population of the study was 2084. The sample size of the study was 313 which was determined through the use of Freund and Williams (1986) statistical sampling formula. The collected data was analysed through the use of Mean score while Z-score was used to test the hypotheses. The finding of the study showed that Financial indiscipline in public sector has a significant effect on economic sustainability of Nigeria, that lack of accountability in public sector has a significant effect on economic sustainability of Nigeria and that the level of accountability and financial discipline in public sector in Nigeria is significantly low. The study concluded that financial indiscipline and lack of financial accountability is prevalent in the public sector economy of Nigeria and this significantly affect economic sustainability in Nigeria. The study among others that for financial indiscipline to minimized in the public sector, accountability mechanisms must be strengthened to reduce the level of corruption in the country. The nation’s annual budget must be an instrument of accountability, a stewardship report of what was done in any given financial year and just a reflection of how money was allocated, unspent and subsequently returned to the coffers of the government or even wasted

keywords:

Finance, Indiscipline, Accountability, Public Sector, Economic Sustainability.

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