Open AccessTreasury Single Account Policy in Nigeria: Performance, Bottlenecks and Prospects
Author(s) -
Abdulgaffar Muhammad
Publication year - 2020
Publication title -
international journal of social, political and economic research
Language(s) - English
Resource type - Journals
ISSN - 2667-8810
DOI - 10.46291/ijospervol7iss4pp801-813
Subject(s) - treasury , misappropriation , embezzlement , revenue , finance , government (linguistics) , accountability , legislature , business , work (physics) , economics , accounting , financial system , political science , engineering , mechanical engineering , linguistics , philosophy , criminal law , law
The treasury single account model was introduced in the Federal Republic of Nigeria to mitigate financial leakages, promote probity and prevent misappropriation of government revenue and also consolidate government accounts, this is a bid to prevent embezzlement and high handedness by revenue generating agencies. This work examined the performance, bottlenecks and prospects of treasury single account policy in Nigeria. The paper being qualitative as it relies heavily on secondary data. The study was underpinned by the systems theory. The study concluded that the implementation of the treasury single account has blocked financial leakages, promoted probity and accountability to a very large extent in the public financial system. Consequently, the paper suggested for a synergy between the executive and legislature to enforce and ensure compliance to the provisions of the TSA by ministries extra ministerial department and financial institution.