Effect of Treasury Single Account (TSA) on Corruption
and Fraud Management in the Nigerian Public Sector (A
Conceptual Overview)

Kankpang; A.K. (PhD); Inyang O.I; Nkiri; J.E

doi:https://www.doi.org/10.56201/jafm.v8.no4.2022.pg133.142

📄 Download Paper

Effect of Treasury Single Account (TSA) on Corruption and Fraud Management in the Nigerian Public Sector (A Conceptual Overview)

Kankpang, A.K. (PhD), Inyang O.I & Nkiri, J.E

Abstract

The Nigeria nation is bestowed with abundant natural and human resources, yet, it is still classified as a developing nation as these resources are yet to be impactful on the wellbeing of the citizenry. Corruption and fraud in the nations’ public sector have been described as the greatest challenges of our time and prevalence of high level of corruption in governance has been identified as one major obstacle militating against the rapid growth and development. This study examines the extents to which the implementation of the TSA policy has affected the minimization of corruption and other unwholesome fraudulent practices in the Nigerian public sector. The study was conducted as a conceptual study by reviewing the works of several other researchers regarding the effect of TSA. The study concluded that notwithstanding the various strategies put in place by successive administrations in Nigeria to combat corruption and public sector fraud, it has persisted because of the lack of political will to put a definite end to the monster. The study therefore recommends that the government through appropriate agencies should strengthen the process of TSA compliance. Additionally, legislations should be enacted that will institutionize the TSA across all tiers of government therefore avoiding deviation at the Federal level by other successive governments. Public Sector Accountants should be trained to meet up with the challenges of TSA operations. Finally, bureaucratic challenges surrounding the TSA should be minimized to the least possible level.

Keywords

Treasury Single AccountCorruptionFraudManagement

References

Achebe, C. (1984). The trouble with Nigeria. Oxford: Heinemann Educational Publishers. Anoruo, D., & Aforkwolum, E. O. (2017). Challenges of TSA. Accounting, Accountability and National Development, Nigerian Accountant, 43 (1), 56-64 Ademola, O. August 16, 2015: Analyst Hail Implementation of Single Treasury Account. ThisDay Newspapers. Retrieved from http://www.thisdaylive.com/articles/analyst- hail- implementation-of-single-treasuryaccount/217572/. Alenoghena, R. August 16, 2015: Treasury Single Account: Giving Life to Jonathan’s Dead Policy Directives. Guardian Newspapers. Retrieved from http://www.ngrguardiannews.com/2015/08/ treasury-single- accountgiving-life-to- jonathan’s dead-policy-directives/ Anumihe, I. September 9, 2015: How Treasury Single Account (TSA) May Effect Economy. The Sun Newspapers. Retrived from Retrieved from http://www.sunnewsonline.com/ how-treasury-single- accountmay-effect-economy/18 Bello-Imam, I.B. (2004). Corruption and National Development in Bello Imama, I.B and Obadan, M.I. (Eds), Democratic Governance and Development Management in Nigeria’s Fourth Republic 1999-2003, Ibadan: Center for Local Government and Rural Studies Black Law Dictionary (1997). 5th Edition, USA, West Publishing and Co. Chukwu, J. August 16, 2015: Treasury ingle Account: Giving Life to Jonathan’s Dead olicy Directives. Guardian Newspapers. Retrieved from http://www.ngrguardiannews.com/2015/08/ treasury single-account-giving-life-to- jonathan’s dead-policy-directives/ Dandago, K.I. (1997). Fraud detection and control at Local Government Level, Journal of the Association of National Accountants of Nigeria, 7(4): 29-38. Enweagbara, O. August 16, 2015: Implementing the Treasury Single Account. Punch Newspapers. Retrieved from http://www.punchng.com/opinion/implementing-the- treasury-single-account/ Freeman, R. E. (1984). Strategic management: A stakeholder approach. Boston: Pitman Publishers Gbegi, D.O. & Adebisi, J.F. 2014. Forensic accounting skills and techniques in fraud investigation in the Nigerian public sector. Mediterranean Journal of Social Sciences, 5(3), 243-252. Igbuzor, O. (2012). Overcoming the challenges of transformation in Nigeria, Joe & Tolalu Associates, Lagos. Nageri, K.I., Gunu, U., & Abdul, F. (2013): Corruption and economic development evidence from Nigeria. Kuwait Chapter of Arabian Journal of Business and Management Review 3 (2), 1-10. Nye, J.S. (2000), Corruption and Political Development: A Cost Benefit Analysis, American Political Science Review LXI (61), 2000 - 2022. Obi, A.E.B. (2017). Corporate Crimes and abuses (An investigation manual). Abuja: Institute of fraud examiners. Odekunle, F. (2012). Repositioning the ICPC for Effective Performance: Statutory Framework, Staffing, Modus Operandia and Acknowledgement of Limitation. Retreat on Re-positioning the ICPC as a Foremost Agency in the Anti-Corruption Crusade at Ibom Le Meridien Golf Resort Uyo, 2-5, May 2012. Olanipekun, W. D., Brimah, A. N. & Olowoleni, F. M. (2015). Treasury Single Account (TSA): A strategy for combating corruption and achieving sustainable development, Journal of Sustainable Development in Africa 17 (5), 139 - 148 Onyekpere, E. August 16, 2015: Treasury Single Account: Giving Life to Jonathan’s Dead Policy Directives. Guardian Newspapers. Oteh .A. (2010): The Role of Entrepreneurship in Transforming the Nigerian Economy. Being a paper delivered at the 4th convocation in Igbinedion University, Okada. The Corrupt Practices and Other Related Offences Act 2000 Transparency International (2008), Corruption Perception Index (CPI), http://www.transparency.org/newsroom /infocus/2006/2008cp United Nations Global Programme against Corruption (2012). United Nations Report Retrieved 25 August 2015 from http://en.wikipedia.org/UNDP 2012 REPORT Usman, M. (2013). Corruption in Nigeria: A Challenge to Sustainable Development in the Fourth Republic. European Scientific Journal 9 (4), 1-10 Waziri, F (2010). Corruption and Governance Challenge in Nigeria, CLEEN Foundation Monograph series, No. 7. World Bank (2005). Helping countries combat corruption, Washington DC, USA.

Effect of Treasury Single Account (TSA) on Corruption and Fraud Management in the Nigerian Public Sector (A Conceptual Overview)

Abstract

Keywords

References

More Articles from JOURNAL OF ACCOUNTING AND FINANCIAL MANAGEMENT