EFFECTS OF TREASURY SINGLE ACCOUNT (TSA) POLICY ON CORRUPTION IN NIGERIA

Abstract

Corruption is one of the evil confronting the development of Nigeria. It is a cankerworm that has eaten deep into the fabrics of the Nigeria system. Various measures have been adopted by various governments and administration at all levels to combat the ugly menace. This paper assesses the effects of treasury single account (TSA) policy on corruption in Nigeria. The study found that the treasury single account (TSA) policy was introduced to block financial leakages, reduce corruption, promote transparency and prevent mismanagement of government's revenue in public sector organizations. The paper revealed that the major challenges hampering the effective and efficient implementation of the treasury single account (TSA) policy include: Inability of federal government to remit appropriately to the various agencies, uncertainties underlying federal government inactions and actions, bottlenecks/bureaucracy, internet platform delays, inefficient human capital development and time wasting in the banks and payment points. The policy will also enable the government at the centre to know its cash position at any given time without any hindrance. Therefore, it is recommended in the paper that the federal government must demonstrate the political will to ensure the sustainability of TSA policy and also tenaciously pursue its implementation by states and local governments in the country. KEYWORDS: Treasury Single Account (TSA), Corruption, Public Sector, Organizations, Nigeria