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| Effect of Treasury Single Account on Public Funds Management in Government Establishment |
Ayoade, Abayomi Adewuyi, Adegbola, Muritala Makinde, Aladesoun, Caroline Bunmi, Olaniyan, Ibunkunoluwa Hannah, Akinde, Blessing Onyi
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Abstract:
The current research examined the determine the extent to which the Treasury Single Account (TSA) has affected public fund management in government establishment, using selected Federal MDAs in Oyo State as case study. The objectives of this work includes to determine the role of treasury single account (TSA) on accountability of public funds in government organization; assess the impacts of TSA on transparency of public funds in government organization; and examine the impact of treasury single account (TSA) in prevention fraud in government organization. The study used the survey research design. The simple random sampling technique was used to select respondents from the ten (10) federal (MDAs) in Ibadan, Oyo state. They include: Nigeria Postal Service, Ibadan; University of Ibadan; National Youth Service Corps (NYSC) Oyo state secretariat; Federal pay office, National Orientation Agency (NOA); Standard Organization of Nigeria,(SON); Central Bank of Nigeria (CBN); Consumer Protection Agency (CPC); National Directorate of Employment (NDE) and Federal Road Safety Corps (FRSC) Ibadan. From these ten Federal (MDAs), 110 staffs were sampled, of which 11 were selected from each MDAs. The primary data which involved the questionnaire was used in this study. The data was analyzed using simple frequency and percentages while the hypotheses formulated were tested and analyzed using the chi-square statistics. The result of hypotheses using chi-square show that there is significant relationship between treasury single account (TSA) and accountability of fund generated by government organizations in Nigeria. Also there is significant relationship between treasury single account and transparency of public funds in government organization and finally there is significant relationship between treasury single account and Fraud prevention in government organization in Nigeria. Since accountability entails all this parameters it can be said from the results that TSA has improved accountability in the public sector fund management. The findings of this work show that overall the implementation of TSA should be progressive for the economy in general. Also, suitable authorities will have to now clinch transparency, limpidity and accountability more than ever before. The study concludes that Treasury Single Account has a significant positive relationship to public fund management
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