Accountability In Nigeria Research Articles

Treasury Single Account: A Nudge towards Public Sector Accountability in Nigeria

This study examined treasury single account, as a nudge towards public sector accountability in Nigeria. Specifically, the study analyzed the influence of adoption of treasury single account on the effectiveness of cash management, reduction of fraudulent activities and improvement in the level of accountability in the Nigerian public sector. The study made use of primary data collected through the use of a questionnaire, based on a sample of 400 respondents randomly selected from government parastatals, departments, institutions and ministries, across the six southwest states in Nigeria. Data collected were analyzed with frequency and percentage response analysis. The result showed that adoption of treasury single account provoked effective management of cash, sustained a considerable reduction in the level of fraudulent activities and aided improved level of accountability in the Nigerian public sector. Thus, there is no doubt that treasury single account is a nudge towards public sector accountability in Nigeria. Therefore, the government can further harness the potency of centralize control of public resources to birth a corrupt free society, where utmost accountability and transparency of resources mobilization and management can be attained.

Treasury Single Account: A Nudge towards Public Sector Accountability in Nigeria

This study examined treasury single account, as a nudge towards public sector accountability in Nigeria. Specifically, the study analyzed the influence of adoption of treasury single account on the effectiveness of cash management, reduction of fraudulent activities and improvement in the level of accountability in the Nigerian public sector. The study made use of primary data collected through the use of a questionnaire, based on a sample of 400 respondents randomly selected from government parastatals, departments, institutions and ministries, across the six southwest states in Nigeria. Data collected were analyzed with frequency and percentage response analysis. The result showed that adoption of treasury single account provoked effective management of cash, sustained a considerable reduction in the level of fraudulent activities and aided improved level of accountability in the Nigerian public sector. Thus, there is no doubt that treasury single account is a nudge towards public sector accountability in Nigeria. Therefore, the government can further harness the potency of centralize control of public resources to birth a corrupt free society, where utmost accountability and transparency of resources mobilization and management can be attained.

Big Data and Accountability in Nigeria. Insights from the BudgIT Organization and the #OpenNASS Campaign

Big Data and Accountability in Nigeria. Insights from the BudgIT Organization and the #OpenNASS Campaign

THE CURRENT ACCOUNT AND OIL PRICE FLUCTUATIONS NEXUS IN NIGERIA

THE CURRENT ACCOUNT AND OIL PRICE FLUCTUATIONS NEXUS IN NIGERIA

Public Accountability in Nigeria : Issues and Challenges

Public Accountability in Nigeria : Issues and Challenges

An Assessment of Ethical Sensitivity of Professional Accountants in Nigeria

This study assessed the ethical sensitivity of Professional accountants in Nigeria with particular reference to members of The Institute of Chartered Accountants of Nigeria (ICAN) and the Association of National Accountants of Nigeria (ANAN). Professional Commitment, Organizational Commitment, Idealistic and Relativist ethical orientations and their effects on ethical sensitivity of the professional accountants were examined. The descriptive research design was adopted while data were collected through the Accountants’ Ethical Sensitivity Scale Questionnaire (AESS) questionnaire administered to 250 professional accountants. Descriptive statistics and regression analysis were used to analyse the collected data. The results revealed that there exists an insignificant negative relationship between professional commitment and professional accountants’ ethical sensitivity while idealistic ethical orientation has a significant negative relationship with professional accountants’ ethical sensitivity. However, relativist ethical orientations and organizational commitment have a significant positive effect on professional accountants’ ethical sensitivity.

Influence of Professional Ethics and Standards in Less Developed Countries: An Assessment of Professional Accountants in Nigeria

Recently, there has been growing concern about ethical and integrity issues in the accounting and auditing profession in public and private sectors of the economy, based on questionable acts committed by professionals whose certification decision makers rely upon. This study adopted the stewardship theory as a theoretical background to develop an empirical framework for examining the influence of ethical professional standards on financial reporting practices in less developed countries. The result of this study however, shows that there is a low degree of adoption. The most prevalent of these factors are greediness and self-interest of the accountant while the least factor is lack of will to sanction violations of clearly defined ethical codes of conduct. The paper recommends that strong enforcement mechanism including the establishment of peer review procedures and institutional monitoring to regulate the activities of professional accountants and ensure strict enforcement of codes of professional practice.

EXCHANGE RATE FLUCTUATIONS AND NIGERIA'S CAPITAL ACCOUNT

This paper examines the effect of exchange rate fluctuations on the capital account in Nigeria from 1980 to 2015. The data used for the study were retrieved from the Central Bank of Nigeria Bulletin. The study employed Johansen co-integration test, Error Correction Model (ECM) and Fully Modified Ordinary Least Square (FMOLS). Evidence from the study shows that exchange rate has no effect on the capital account. As a result of the study, production in the Nigerian economy must be encouraged through availability of domestic credit while market determined interest rate should be encouraged to stimulate economic growth and investment

Imperative of Treasury Single Account (TSA) in Nigeria

History guides and shapes thinking in a particular phenomenon, evaluation of government accounting and finance thoughts have help in no small manner. There exist reasons to have polices, process, procedures and tools that unifies all government bank accounts in a single unit for the effective management of government finances, bank and cash position. This paper therefore sought to review the history, workings and benefit of the Treasury Single Account (TSA) in Nigeria using metal-analysis methods. It was found out that despite the numerous benefits of the adoption of TSA, its challenged are abound. This study concluded that the place of Treasury Single Account in Nigeria cannot be underestimated in ensuring that this Nation is free from corruption of public officers and their private collaborator and also ensured that government is able to know and account for it money from all sources at a glance. Government at all levels in Nigeria are encouraged to take the seriously the benefit of operation of TSA and also learn from its resultant effect on the economy on the Nation. TSA is hereby further recommended for the prevention of fraudulent activities and enable government to monitor it resources at a glance. However, care must be taken in order not to allow the negative effect of TSA to overwhelm the intention of government.

An Empirical Analysis of Nigeria’s Current Account Sustainability

This study reexamines the sustainability of the current account in Nigeria over four decades using time-series analysis on annual data from 1981 to 2013. We focus on two analytical distinctions to the inter-temporal budget constraint (IBC) hypothesis in relation to previous studies. First, we extend the standard bivariate approach to a multivariate framework that accounts for the roles of oil price variations and financial deepening, which have important implications for resource allocation. Second is the use of the Toda–Yamamoto modified Wald (MWALD)-based causality test that is also carried out to arbitrage between the results with and without a structural break. It employs both the conventional unit root test (augmented Dickey–Fuller [ADF] and Phillips–Perron [PP]) and the unit root test with a structural break (Perron, 2006; Zivot & Andrews, 1992). It also carries out the conventional residual-based cointegration test (Engle & Granger, 1987) and the residual-based cointegration test with a structural break (Gregory & Hansen, 1995). Findings suggest that there is current account sustainability in Nigeria and structural changes were not very potent during the period under consideration. This implies that the Nigerian economy complied with the IBC hypothesis, suggesting that exports could actually finance imports. JEL Classification: F30, F32

Treasury Single Accounting (TSA) and Public Sector Accountability in Nigeria

Treasury Single Accounting (TSA) and Public Sector Accountability in Nigeria

Land Tenure, Governance and Accountability in Nigeria: The Implications on Food Production to Feed the Present and the Future

Land is very vital for agricultural production, and for any nation that wants to be self-food sufficient. Different land reforms have taken place in Nigeria since 1960 with the aim of facilitating access to agricultural land, and make the nation self-sufficient in food production, but little changes have only been recorded. Bureaucracy by approving authorities in practice in communities where land is situated still hinders land acquisition for agricultural investment. This study therefore analyzes land policy, governance and accountability and draw out some implications on food production in Nigeria. The percentage of arable land to the total land area was 37.3 percent by available data in 2013, which suggests that smaller area is only available for cultivation with little for agricultural expansion. There may likely be a great challenge in producing enough food to sustain the future population of Nigeria if issues on land tenure and governance are not addressed. Even though our finding revealed that Nigerians cultivate more land at present than ever before with a percentage increase of 19.2 percent in 2000 to 2010, much needs to be done considering challenges confronting agricultural investors. Some of the identified challenges in Ogun State include: the activities of nomadic, high cost of land acquisition, land grabbing which has dispossessed members of the communities of their large parcels of land, scarcity of labor in rural community due to youth rural-urban drift and high cost of modern agricultural input preventing them to adopt. This is a dangerous trend for the future considering the current food deficit problem in Nigeria. Transparency in land governance with customary laws can improve land access. Removal of gender biases in access to land, bureaucracy and cost of securing and perfecting title, short-term lease which cannot be used as collateral for agricultural loans in the Land Use Act need to be amended.

Understanding Internal Accountability in Nigeria's Routine Immunization System: Perspectives From Government Officials at the National, State, and Local Levels.

Background: Routine immunization coverage in Nigeria has remained low, and studies have identified a lack of accountability as a barrier to high performance in the immunization system. Accountability lies at the heart of various health systems strengthening efforts recently launched in Nigeria, including those related to immunization. Our aim was to understand the views of health officials on the accountability challenges hindering immunization service delivery at various levels of government. Methods: A semi-structured questionnaire was used to interview immunization and primary healthcare (PHC) officials from national, state, local, and health facility levels in Niger State in north central Nigeria. Individuals were selected to represent a range of roles and responsibilities in the immunization system. The questionnaire explored concepts related to internal accountability using a framework that organizes accountability into three axes based upon how they drive change in the health system. Results: Respondents highlighted accountability challenges across multiple components of the immunization system, including vaccine availability, financing, logistics, human resources, and data management. A major focus was the lack of clear roles and responsibilities both within institutions and between levels of government. Delays in funding, especially at lower levels of government, disrupted service delivery. Supervision occurred less frequently than necessary, and the limited decision space of managers prevented problems from being resolved. Motivation was affected by the inability of officials to fulfill their responsibilities. Officials posited numerous suggestions to improve accountability, including clarifying roles and responsibilities, ensuring timely release of funding, and formalizing processes for supervision, problem solving, and data reporting. Conclusion: Weak accountability presents a significant barrier to performance of the routine immunization system and high immunization coverage in Nigeria. As one stakeholder in ensuring the performance of health systems, routine immunization officials reveal critical areas that need to be prioritized if emerging interventions to improve accountability in routine immunization are to have an effect.

Instrumentalities for the Effectiveness of Measures of Public Accountability in Africa

The effectiveness of the various measures put in place by government for the promotion of public accountability in Africa using Nigeria as a case study was examined using a 12-item questionnaire. The aim was to find the importance of these measures in the promotion of public accountability in Nigeria. A total of 240 respondents, comprising 140 males (65.6%) and 100 females (34.4%), answered the questionnaire. The mean age of the respondents was 24.89 years. The result disclosed that these measures were partially implemented in the discharge of duties and this led to the achievement of very limited successes. The chi-square was also used to test the relationship between implementation of these measures and effectiveness of public accountability. The result revealed a significant relationship. Suggestions were therefore made on how to improve the use of these measures which included recognition of the importance of these measures, adequate monitoring, removal of the immunity clause, strict adherence to sanctions irrespective of whoever is involved, and compulsory accountability by leaders.

Threats and Challenges to Accounting Profession: A Draw Back to the Development of Accounting Practices in Nigeria

This study examines the practice of accounting profession in other to identify those threats and challenges serving as obstacle to its development in Nigeria. To achieve this, three hypotheses were tested. A simple chi square was used to relate these threats and challenges to the development of accounting profession in Nigeria. The views and perceptions of the major actors in the field of accounting in Nigeria which includes Academic Accountants, Professional Accountants and the Accounting Regulators were sought. Relevant data were collected and analyzed and from the analysis, findings have shown that, accounting profession is actually faced with certain threats and challenges which actually affects its development. The study therefore concludes that these threats and challenges could be an obstacle on the future of accounting profession. It recommends that, while the academics and the professional accountants are called upon to be committed and proactive as they handle their various functions of theory generation, field practices and advancement of accounting knowledge, regulators should consider objectivity and sincerity as they work out rules for the practice of accounting profession.

An Empirical Evaluation of Forensic Accounting Education in Nigeria Tertiary Institutions

Fraud and corruption are gargantuan twin brothers that have limited the growth and infrastructure development of many nations and led many firms to the road of bankruptcy. Detecting fraud has become a high priority in the accounting profession and the failure of statutory audit to detect, prevent and reduce misappropriation of corporate fund give rise to the profile and need of forensic accounting in Nigeria. Accounting programs around the world have been revising their curricula to include courses in “fraud/forensic” accounting. This study examined the prospects and challenges of fraud and forensic accounting integration into curriculum in Nigeria tertiary institutions. The study thus involves (i) determining if inclusion of forensic accounting as a course to the existing accounting/auditing course will increase student expertise and (ii) examining the effect of administrative support in developing and integrating fraud/forensic accounting into existing accounting curriculum. To achieve this, a total of 160 copies of questionnaire were distributed among selected stakeholders in accounting education (such as, school administrators, accounting faculty members and students within the selected tertiary institutions in Nigeria). In addition, survey research method was used to obtain primary data that were collated, analyzed, summarized and interpreted accordingly, with the aid of statistical tools such as percentile average, frequency distribution and Chi-square. The study revealed that most respondents prefer fraud and forensic accounting (FFA) to be integrated into existing accounting curriculum by offering a separate FFA courses. Also, findings from the study confirmed that inclusion of forensic accounting as a course will increase student expertise, skepticism and fraud judgement. Based on the findings of this study, further study should be carried out in the process of teaching and learning how fraud and forensics accounting can be integrated. Moving away from lecture and move toward teaching approaches conveying critical skills such as, cases that teach dealing with uncertainty, analytical skills, ethical reasoning, and oral and written communication. Also, faculty must have consulting, internship, residency, or other real-world experiences that allow them to understand the changes taking place. Educators should use creative ways to involve business professionals in the educational process, and to exploit the potential of out-of class activities, such as internships and service-learning assignments.

Cultural Factors and Audit Quality. Evidence from Nigeria

The purpose of this study is to find out the perception of professional accountants in Nigeria on how some cultural factors affect audit quality. A survey research design was adopted for the study. A questionnaire survey of 108 professional accountants was undertaken. Descriptive statistics were used to analyze the 50 usable responses received. The one sample t-test was used to confirm the significance of the responses. Findings include the fact that some Nigerian accountants receive bribes in the course of duty thus compromising audit quality. Also low litigation culture, slow and tardy judicial process and corruption in the wider Nigerian Society affected adversely audit quality. Our findings have implication for the regulatory authorities as they strive to rein in the monster of audit failures and thus improve audit quality in Nigeria.

Changes in Global Financial Regulatory Framework: Implications for Accountancy Profession in Nigeria

This study sets out to determine the effects of global changes in the financial regulatory framework on accounting profession in Nigeria and to provide a model that would guarantee high quality and reliable financial reports. Descriptive statistics was applied using modified Barth et al, (2007), residual from regression equation to determine difference between pre and post adoption of IFRS era across Size, Eissue, Liability, Dividend, Disuse, turn, cash flow. Annual accounts data were drawn from company's website and Nigeria Stock Exchange. Analysis was done using Univariate Analysis of variance (UAV) to test the hypothesis. Result indicates that The descriptive statistics report with all the variables send mixed signals as to whether the adoption of IFRS in Nigeria will significantly promote the goal of accountability and transparency in Nigeria corporate firms and whether the choice of existing accounting techniques by professional Accountants in Nigeria has been significantly influenced by the changes in Global regulatory frameworks. In view of this, the researcher recommends that as the There should be enlightenment campaigns on the potential consequences for noncompliance of IFRS implantation by the regulatory authorities on professional bodies, corporate, government agencies and other stakeholders in order to ensure adherence to the procedures, and corporate bodies should also endeavour to use the opportunity of the adoption of IFRS

Challenges Facing Women Accountants In Nigeria

Challenges Facing Women Accountants In Nigeria

Determinants of Unethical Financial Reporting: A Study of the Views of Professional and Academic Accountants in Nigeria

This study ascertained the determinants of unethical financial reporting, exploring the views of professional and academic accountants in Nigeria. The study utilized the survey design with a sample of 212 respondents drawn from a population made of professional and academic accountants resident in Benue State of Nigeria. The postulated hypotheses were tested using multinomial logistic regression, Kruskal-Wallis H and Chi-square tests, and Mann-Whitney U test. The empirical results evidenced, in order of severity, ‘weak corporate governance’, ‘attempts to conceal deteriorating financial position’, and ‘compensation and bonus incentives’ as the main determinants of unethical financial reporting. The results, however, suggested significant differences in the views of respondent groups on the identified determinants of unethical financial reporting with manifest implications on how policies aimed at addressing the phenomenon of interest would be initiated. The major recommendation of the study is the urgent need to incorporate good corporate governance systems in the overall strategies of corporations in order to curtail incidences of unethical financial reporting.