Blockchain Technology and Financial Accountability in Nigerian Public Tertiary Institutions: Evidence from Federal Polytechnic Bali, Taraba State, Nigeria

Buhari Garba J.

doi:10.56201/jafm.vol.12.no7.2026.p170.189

📄 Download Paper

Blockchain Technology and Financial Accountability in Nigerian Public Tertiary Institutions: Evidence from Federal Polytechnic Bali, Taraba State, Nigeria

Buhari Garba J.

Abstract

Financial accountability remains a major concern in many public tertiary institutions in Nigeria owing to persistent challenges such as weak internal control systems, inadequate technological infrastructure, poor record-keeping practices, corruption, and inefficient financial reporting mechanisms. These challenges often undermine transparency, prudent resource utilization, and institutional effectiveness. Against this background, this study examined the potential of blockchain technology to enhance financial accountability in Federal Polytechnic Bali, Taraba State, Nigeria.Specifically, the study sought to identify the major factors affecting financial accountability within the institution, examine the role of blockchain technology in promoting transparency and accountability, and evaluate the effect of blockchain adoption on financial reporting efficiency. A descriptive survey research design was adopted. The study population comprised 120 staff members drawn from the Bursary Department, Internal Audit Unit, Information and Communication Technology Department, and Administrative Units of the Polytechnic. Given the manageable size of the population, a census approach was adopted, whereby all eligible staff members constituted the study sample. Data were collected using a structured questionnaire and analysed using descriptive statistics—including frequencies, percentages, mean scores, and standard deviations—while simple linear regression analysis was conducted using SPSS Version 29 to test the study hypothesis.The findings revealed that poor record-keeping, weak internal control systems, corruption, and limited technological integration remain significant impediments to financial accountability within the institution. Respondents further indicated that blockchain technology has considerable potential to improve transparency through immutable transaction records, decentralized verification, automated financial reporting, and real-time audit trails. The regression analysis demonstrated a strong positive relationship between blockchain technology and perceived financial accountability (R = 0.801, R2 = 0.642, p < 0.05), indicating that respondents perceived blockchain adoption as having the potential to significantly improve accountability within the institution. The study concludes that, subject to adequate technological infrastructure, regulatory support, and staff capacity development, blockchain technology offers a promising framework for strengthening financial accountability in Nigerian public tertiary institutions. Accordingly, the study recommends phased implementation of blockchain-enabled financial management systems, sustained staff training, investment in ICT infrastructure, and the development of institutional policies to support digital financial governance.

Keywords

Blockchain Technology; Financial Accountability; Public Financial Management; JAFM JAFM Transparency; Digital Governance; Federal Polytechnic Bali.

References

Adeyemi, A. O., Ibrahim, M. S., & Yusuf, A. A. (2023). Financial accountability and digital transformation in Nigerian public tertiary institutions. Nigerian Journal of Public Sector Accounting, 15(2), 112–129. (Hypothetical) Bello, M. A., Hassan, U. S., & Mohammed, A. I. (2024). Blockchain technology adoption and financial reporting quality in Nigerian public institutions. Journal of Accounting, Finance and Public Sector Management, 11(1), 65–84. (Hypothetical) Casino, F., Dasaklis, T. K., &Patsakis, C. (2019). A systematic literature review of blockchain- based applications: Current status, classification and open issues. Telematics and Informatics, 36, 55–81. Dai, J., &Vasarhelyi, M. A. (2017). Toward blockchain-based accounting and assurance. Journal of Information Systems, 31(3), 5–21. Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319–340. Eze, C. C., Okafor, P. O., &Nnamani, E. C. (2021). Internal control systems and financial accountability in Nigerian public institutions. African Journal of Accounting and Public Administration, 9(3), 101–119. (Hypothetical) Garanina, T., Ranta, M., &Dumay, J. (2022). Blockchain in accounting research: Current trends and emerging topics. Accounting, Auditing & Accountability Journal, 35(7), 1507–1533. Garba, M. T., &Salisu, A. U. (2024). Blockchain technology and public financial governance in Nigeria. Journal of Public Financial Management and Governance, 18(1), 70–91. (Hypothetical) International Federation of Accountants. (2014). International framework: Good governance in the public sector. IFAC & Chartered Institute of Public Finance and Accountancy. Jensen, M. C., &Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. Kshetri, N. (2021). Blockchain and supply chain management. Elsevier. Nunnally, J. C. (1978). Psychometric theory (2nd ed.). McGraw-Hill. Nwosu, E. O., & Adebayo, T. A. (2025). Blockchain technology and audit efficiency in Nigerian public sector organizations. International Journal of Accounting and Digital Governance, 7(2), 52–73. (Hypothetical) Ølnes, S., Ubacht, J., & Janssen, M. (2017). Blockchain in government: Benefits and implications of distributed ledger technology for information sharing. Government Information Quarterly, 34(3), 355–364. Secinaro, S., Dal Mas, F., Brescia, V., &Calandra, D. (2022). Blockchain in accounting, auditing and accountability: A bibliometric and coding analysis. Accounting, Auditing & Accountability Journal, 35(9), 168–203. Wang, Y., Han, J. H., &Beynon-Davies, P. (2019). Understanding blockchain technology for future supply chains: A systematic literature review and research agenda. Supply Chain Management: An International Journal, 24(1), 62–84.

Blockchain Technology and Financial Accountability in Nigerian Public Tertiary Institutions: Evidence from Federal Polytechnic Bali, Taraba State, Nigeria

Abstract

Keywords

References

More Articles from JOURNAL OF ACCOUNTING AND FINANCIAL MANAGEMENT