Treasury Single Account Policy Research Articles

An Evaluation Of The Treasury Single Account (TSA) As An Instrument Of Financial Prudence and Management In Nigeria: Methodology Analysis (OAGF) 2015-2024.

This paper examines the Office of the Accountant General of the Federation and the relationship between the Nigerian economy and the Treasury Single Account Policy (2015-2024). The Nigerian economy has developed slowly over the years, which has led to little to no improvement in the country's residents' standard of living. The study's overall goal was to determine how the Treasury Single Account Policy affected Nigeria's economic developments between 2015 and 2024. Its specific goals were to determine whether the human development index, Gini coefficient, and poverty rate of the country's economy differed significantly between the pre-and post-implementation periods. The research utilized the design of the quantitative study. Nigerian citizens make up the study's population, while the citizens of Nigeria for the years 2015–2024 make up the sample size. The study employed secondary data that came from the World Bank's National Accounts Data, the National Bureau of Statistics, and the Central Bank of Nigeria's Statistical Bulletin. The paired sample t-test was used to assess the data. The outcome showed that, except the variable of human development index, which showed a significant difference between the periods before and after the implementation of the treasury single account policy, economic development indicators (gini coefficient and poverty rate) did not differ significantly between the periods before and after the policy. Consequently, the analysis found that the Treasury Single Using the poverty rate and Gini coefficient as stand-ins for economic development, account policy had no discernible effect on the Nigerian economy. Additionally, it was determined that the Treasury Single Account Policy had a major influence on Nigeria's economic development using the Human Development Index as a proxy for economic progress. Therefore, it was advised that government programs for human development be maintained and improved, particularly in the fields of health and education.

The Influence of Treasury Single Account Implementation on Public Sector Performance: A Case Study of Selected Parastatals in South East Nigeria (2010-2019)

This study delved into the effect of Treasury Single Account (TSA) on public sector performance in selected parastatals in South East Nigeria (2010-2019). The broad objective of this study was to ascertain the effect of Treasury Single Account (TSA) on public sector performance in selected parastatals in South East Nigeria. Consequently, four research questions and four hypotheses were formulated to guide the study. Survey design was adopted for the study. Area of the study is South East Nigeria, population of the study was 1,548 staff drawn from Boards of Internal Revenues (BIRs) of the five States in South East. Stratified random sampling was used to derive 713 respondents for the study. Instrument for data collection was self-structured questionnaire. Mean and standard deviation was used to answer research questions while ANOVA and Z-test statistic was used to analyze hypotheses. The result based on empirical analysis revealed that treasury single account had positive effect on fraud detection in Parastatals in South East Nigeria, treasury single account had positive effect on revenue mobilization in Parastatals in South East Nigeria, treasury single account had positive effect on blockage of financial leakages in Parastatals in South East Nigeria and treasury single account had positive effect on financial savings in Parastatals in South East Nigeria. Thus, the study concluded that fraud detection, revenue mobilization, financial leakages and financial savings have been affected in Parastatals in South East Nigeria as result of Treasury single account (TSA). Based on the findings, the following recommendations among others were proffered: Government should ensure timely release of operational funds to encourage MDAs to support the TSA Policy. This can be achieved through the use of treasury bills (T-bills) or other short-term borrowing instruments aimed at offsetting the impact of TSA implementation on government cash flows and there should be full implementation of TSA in all states ministries, Departments and Agencies (MDAs). Partial implementation in many states as was observed by the researcher during field work should be discouraged. The gains of TSA cannot be overemphasized. Keywords: Treasury Single Account, Accountability, Public Sector, Revenue, Savings, Parastatatal.

AN ASSESSMENT OF THE IMPLEMENTATION OF THE TREASURY SINGLE ACCOUNT ON GOVERNMENT FINANCES BY THE GOVERNMENT OF SIERRA LEONE

AN ASSESSMENT OF THE IMPLEMENTATION OF THE TREASURY SINGLE ACCOUNT ON GOVERNMENT FINANCES BY THE GOVERNMENT OF SIERRA LEONE

Nexus Between Treasury Single Account, Revenue Generation, Transparency and Accountability: Evidence from Nigerian

This study assessed the impact of treasury single account (TSA) on revenue generations, transparency and accountability: evidence from Nigerian federal road safety corps. Correlational research design was adopted and one hundred and twenty-five copies of questionnaire were distributed to staff of federal road safety corps in Niger state, Nigeria. The study employed ordered logit regression to analyze the data obtained and the findings revealed that TSA improves revenue generation, promote transparency and accountability. It was recommended that federal government should conduct periodic checks on all MDAs so as to enforce the implementation of the TSA policy in all their revenue generation activities.

Effect of Treasury Single Account (TSA) on Corruption and Fraud Management in the Nigerian Public Sector (A Conceptual Overview)

The Nigeria nation is bestowed with abundant natural and human resources, yet, it is still classified as a developing nation as these resources are yet to be impactful on the wellbeing of the citizenry. Corruption and fraud in the nations’ public sector have been described as the greatest challenges of our time and prevalence of high level of corruption in governance has been identified as one major obstacle militating against the rapid growth and development. This study examines the extents to which the implementation of the TSA policy has affected the minimization of corruption and other unwholesome fraudulent practices in the Nigerian public sector. The study was conducted as a conceptual study by reviewing the works of several other researchers regarding the effect of TSA. The study concluded that notwithstanding the various strategies put in place by successive administrations in Nigeria to combat corruption and public sector fraud, it has persisted because of the lack of political will to put a definite end to the monster. The study therefore recommends that the government through appropriate agencies should strengthen the process of TSA compliance. Additionally, legislations should be enacted that will institutionize the TSA across all tiers of government therefore avoiding deviation at the Federal level by other successive governments. Public Sector Accountants should be trained to meet up with the challenges of TSA operations. Finally, bureaucratic challenges surrounding the TSA should be minimized to the least possible level.

Treasury Single Account (TSA) and Economicdevelopment in Nigeria: Accounting & Ethical Issues

Economic development indicators with regard to Nigeria as a nation have not been favourable as development indicators of Nigeria in recent times and over the years has shown. The situation perhaps necessitated the adoption and implementation of TSA policy by the government. Over the years, government has come up with different efforts and policies that could be used towards driving the economy towards the paths of development. One of such policy thrust is the issue of Single Treasury Account (TSA) and how it affects economic development. TSA is an economic policy that ensures and aggregates all revenues and income of government into a single source called treasury and it is controlled by the central bank (CBN) of Nigeria. With its implementation has risen a lot issues which includes ethical as well as accounting issues. This paper succinctly discusses the TSA Policy and its impacts on economic development with a focus on ethical and accounting issues that have arisen in the face of TSA implementation. The paper adopts Meta- analysis methodology. Several theories for the implementation of TSA were reviewed as theoretical framework. Past literature reviewed showed a gap as they left out ethical and accounting issues thus making room for this study. Trends of government revenue for the period of 2010 to 2019 were analysed. Pre TSA and Post TSA period analysis was conducted and findings discussed. The paper discovered via its trend analysis that total government revenue within the Post TSA implementation seems to flatten out when compared to Pre TSA period indicating that even with TSA implementation there is minimal government revenue generation witnessed, hence the need for a review of the policy to overturn the trend. Issues of record management, accounting skills gap as well as accounting infrastructure needed for real time TSA activities are some of the accounting issues. Issues of trust and perception, fraud and corruption in the wake of TSA policy, fall in Naira as well as borrowing implications are some of the ethical issues. All of these have hampers the expected progress of TSA policy towards economic development. The study concludes that whilst TSA policy is a laudable project, these issues must be dealt with other wise, economic development in the face of TSA policy will continue to suffer. The study recommended among others that there should be ethical revolution. All MDAs involved in the use of TSA must be ethical in its implementation and management of accounts. Ethical index can be developed whereby MDAs can be rated according to those that uphold the highest standard of ethics towards TSA policy. There is should training of the accounting manpower at all levels of TSA implementations. Manpower must be familiar with and be ICT compliant to deal with real time TSA transactions. Government must put adequate measures towards poverty reduction. TSA policy cannot not be effective where there is high level of poverty.

Treasury Single Account and Fraud Management in Nigeria: Benefits and Challenges

Treasury systems are designed to manage several critical aspects of public expenditure management. Key treasury system functions include financial planning, control of the budgetary process and management of government cash flow. However, for any treasury system to be effective, government has to ensure that it has sufficient liquidity to deal with payments, while ensuring that such liquidity costs are kept within the barest minimum. TSA is a (system of) unified structure of government bank accounts enabling optimal utilization and consolidation of government cash resources. In TSA a bank account or a set of linked bank accounts is used for all government transactions all its receipts and payments and gets a consolidated view of its cash position at any given time. This study investigates Treasury Single Account (TSA) and Fraud Management: Benefits and Challenges in Nigeria. Adopting a survey design, the study made use of primary data collected mainly through administering a set of questionnaire to104employeesofselected three Corporate Affairs Commissions in South-East, Nigeria comprising Enugu, Imo and Abia.100copiesofthequestionnaireoutof the total number of retrieved copies of questionnaire were validly completed and useful for analyses. Findings interlaid revealed that: TSA significantly reduced the incidence of fraud in public enterprises; TSA in public enterprises to a large extent reduces the credit creation of deposit money banks. The study recommends that the TSA policy will be effective if, the Fiscal Sunshine Bill is to be put in place, and if enacted will open up all financial activities of government in a way that there will be no more hiding place for those who divert or loot government money. Just like the Fiscal Sunshine Act is in place with budgeting process, implementation and contract awards, should be open for Nigerians to see how both revenues are generated and how public money is being spent by those in government, and why; Government should overhaul the capacity of the Federal Ministry of Finance and the CBN in order to cope effectively with the challenges associated with enforcement of the provisions of the TSA.

Treasury Single Account Policy and Revenue Generation Among Federal Parastatals in Ekiti-State, Nigeria

Treasury Single Account (TSA) is a new government policy to fight corruption in the Nigerian public sector. The policy has received a lot of compliments from many Nigerians; however, empirical studies have produced mixed results. The study examined the effects of Treasury Single Accounts (TSA) on the revenue generation of federal government parastatals in Ekiti state. The study specifically examined the effect of TSA on revenue generation of Federal University Oye-Ekiti, Federal Teaching Hospital Ido, Federal Road Safety Commission Ado-Ekiti and Federal Polytechnics Ado-Ekiti. Both Descriptive and inferential statistics were used. The descriptive statistics include mean, standard deviation, minimum and maximum while the study employed paired sample t-test for inferential analysis. The study reveals that TSA has not enhanced the revenue generation among federal government parastatals in Ekiti state. The research further shows that TSA is counterproductive since average revenue generated after the implementation of TSA is lower than the average revenue that the parastatals generated before the implementation of TSA. The study recommends that the federal government of Nigeria should investigate the reasons why the TSA is counterproductive in Ekiti state and adequately monitor its implementation.

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

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

Cushioning the effect of Treasury Single Account (TSA) on the Liquidity Drive of Deposit Money Banks in Nigeria

Deposit Money Banks in most African countries including Nigeria are already being properly normalized functionally as the official implementation of Treasury Single Account (TSA)in the country has brought them back from their initial functional abnormality exhibited through the collection and keeping of public sector funds. Among various changes being put in place by the TSA include the transfer of the safekeeping responsibility and the protection of public fund from their purview by the country’s apex bank (CBN),thereby leaving the Deposit Money Banks to serve solely as mere collection agents throughout the federation. This appropriation of responsibility seems to be taking a negative toll on the liquidity status of the DMBs and thus, this study was conducted to determine the extent at which this said negative toll is imparting on the liquidity of the DMBs vis-a-vis measures towards ameliorating same in order to avoid going back to the dark days of bank failure. Descriptive and ex-post facto analysis style were utilized. We then used regression and correlation methods to analyze the secondary and time series statistical information obtained on the twenty four DMBs within the Country from the CBN bulletin of 2019. Our results disclosed that the policy implementation and its model has important impact on the liquidity of Deposit Money Banks and this translated further to a major impact on Credit to the Private Sector, Deposit Mobilization, Loans and Advances. The study in this wise recommended sure measures necessary for containing the earlier mentioned negative toll consequent upon TSA implementation on the liquidity of DMBs, which involves the necessity for DMBs to redouble their efforts on deposit mobilization from alternative sectors. This makes it possible for these DMBs to reduce their dependence on government fund for their operational activities. It went on to suggest future reconsolidation of the banking sector to permit for mergers, take over and outright acquisition among the DMBs, so the few stronger banks that will stay would possess the wherewithal to making wealth and jobs for the people, thereby improving and growing the Nigerian economy. The research ended with the position that the TSA policy be fully implemented and subsequentlysustained by the Nigerian government.

Exploring the financial accountability and transparency of the treasury single account policy - a qualitative study

Exploring the financial accountability and transparency of the treasury single account policy - a qualitative study

Exploring the financial accountability and transparency of the treasury single account policy - a qualitative study

Exploring the financial accountability and transparency of the treasury single account policy - a qualitative study

Combating corruption in the Nigerian Civil Service

Purpose The objective of this study is to investigate the effectiveness of the treasury single account (TSA) policy in curbing corruption in some selected federal ministries and agencies in Nigeria. Design/methodology/approach The study used both primary and secondary sources of data and a cross-sectional survey research design. Purposive sampling was the technique adopted to select a total of 192 respondents. The questionnaire was the instrument used in data collection. The information gathered was analysed using Statistical Package for Social Sciences in generating simple percentage and correlation analysis. Findings The results indicate a relationship between the implementation of TSA policy and reduction in the level of unregulated cash flow and leakages as well as decline in pilfering, embezzlement, fraud and forgery among employees of the selected institutions. In addition, it was also found that the TSA policy does not have substantial impact on the level of bribery and inflation of contracts and procurement. Practical implications The study suggests that other anti-corruption policies should be strengthened to support the TSA policy in eradicating other hidden corruption crimes in the Nigerian public sectors. Originality/value This paper is one of the few academic investigations that empirically explored the effectiveness of the TSA policy in curbing corruption crimes in Nigeria.

Federally Collected Non-oil Tax Revenue and National Economic Performance in Nigeria: A Pre - post Treasury Single Account Implementation Assessment

This paper examined the implementation of Treasury Single Account (TSA) on federally collected non-oil tax revenue and national economic performance in Nigeria, via an inter-period comparative milieu. This study was stimulated by the divergent opinion amongst stakeholders on the justification and efficacy of the TSA model. The study was underpinned by the stakeholder and public finance management theories. Mulled after the ex post facto research template, before (pre) and after (post) implementation data of the corresponding periods were obtained from the annual bulletins/reports of Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN) and Nigerian Bureau of Statistics (FBS). While, actual reported tax revenue for the corresponding periods were obtained, gross domestic product was deployed to proxy national economic performance. Paired sample t-test was used to process the data on the Statistical Package for Social Sciences (SPSS) template. The results revealed that, in gross terms more revenue was collected pre-TSA. However, a significant increase in federally collected revenue post TSA implementation was achieved, granted that the economy slipped into recession from the third quarter of 2015, also a considerable growth in GDP. In essence, both measures performed better in the post implementation period from a comparative strand. This implies that, the TSA policy has a positive bearing on both non-oil tax revenue generation and economic performance. Following, it is recommended that government should improve on the existing TSA framework by incorporating complementary, supportive control and monitoring measures to perfect the operation of the system, and to escalate the system further towards monitoring outflows (expenditure),

Treasury single account, revenue generation and utilization among nigerian universities - A pre–post assessment

This study empirically examined the impact of Treasury Single Account (TSA) on revenue generated and its utilization in the federal government-owned universities. University of Ilorin was used for the study. The objectives of the study was to find out the level of fund accumulation and utilization at the University of Ilorin before TSA implementation, and find out the level of fund accumulation and utilization at the University after TSA implementation. Two null hypotheses were formulated for the study. Secondary data was utilized for the study. Total fund and its utilization at the University of Ilorin for the period 2012 – 2017 were collected from the Unilorin Annual Reports. The data collected was divided into two, i.e. pre and post TSA period, that is 2012 to 2014 and 2015 to 2017, respectively. A pre-post analysis was carried out using SPSS version 20. Findings show that TSA implementation has improved revenue generation at the University of Ilorin. Further findings revealed that University's revenue utilization improved after TSA implementation from N6, 691,451,094.41 billion to N8, 928,707,239.14 billion. Since, the P-value of both hypotheses is less than the significance level (0.05), the two null hypotheses could not be accepted. It was recommended that government at all levels should prioritize universities education funding. In addition, Universities must find a way to increase their internally generated funding levels and finally, Nigerian Universities should take advantages of TSA policy to enhance their development by key into every aspect of the policy drive.

Consequences of the Treasury Single Account Policy on the Wealth of Nigerian Commercial Banks’ Shareholders

ABSTRACTWe examine the impact of the Nigerian government’s Treasury Single Account (TSA) policy to withdraw the funds of Ministries, Departments and Agencies from commercial banks. Following the economic policy uncertainty theory, we use an event study methodology to measure the impact of the TSA policy on the shareholders’ wealth. Our results reveal that the announcements and subsequent final implementation of the TSA policy caused negative abnormal returns and losses on the wealth of the commercial banks’ shareholders. This article contributes to the literature on stock market reaction to policy announcements and the unintended consequences government policy can have in an emerging economy.

Analysis of the Impact of Treasury Single Account on the Performance of Banks in Nigeria

In this study, we developed multivariate model for the study of the impact of treasury single account (TSA) on the performance of banks in Nigeria. From the study, we discovered that there was no significant difference between the period before and after the introduction of the TSA policy on the performance of banks in Nigeria. In Diamond Bank Nigeria Plc, we observed that there were negative relationships between liquidity ratio and capital adequacy with correlation coefficient of -0.093; liquidity ratio and credit to customers with correlation coefficient of -0.312; capital adequacy and credit to customers with correlation coefficient of -0.176. On the other hand, from the analysis on first bank, we observed that there were both positive and fairly strong relationships between the liquidity ratio and capital adequacy with correlation coefficient of 0.626; negative relationship between liquidity ratio and credit to customers with correlation coefficient of -0.880 and finally, negative relationship between capital adequacy and credit to customers with correlation coefficient of -0.165.

EFFECT OF TREASURY SINGLE ACCOUNTS (TSA) ON THE PERFORMANCE OF MINISTRIES, DEPARTMENTS AND AGENCIES (MDA) IN NIGERIA

Purpose of the article: The policy on the Treasury Single Account (TSA) was institutionalized to hedge financial loopholes, promote transparency and prevent mismanagement of government’s revenue by unifying all accounts of the government and preventing mismanagement of revenues by those agencies that generate revenue. This study however, examines the effect of the TSA policy on the performances of federal government MDAs in Nigeria. Methodology/methods: The study relied basically on primary data which was obtained through questionnaire designed and administered to 75 respondents drawn from the federal government ministries, departments, agencies and parastatals (MDA) within Anambra metropolis in the eastern part of Nigeria. Analysis was based on the Wilcoxon sign test. Scientific aim: This study aims to empirically establish through available statistics the effect of implementing TSA on the performance of government ministries, departments and agencies in Nigeria. Findings: The result of this research indicate that the institutionalization of TSA has significantly affected and improved the performance of federal government MDAs at 5% level of significance which goes further to confirm that treasury single account is capable of blocking financial loopholes in revenue generation and promoting transparency and accountability. Conclusion: The study concludes by recommending that since the adoption of TSA has significantly improved the performance of federal government ministries, departments and agencies (MDAs) in Nigeria, government should enforce the adoption of TSA and ensure that it is mandatory for all MDAs and parastatals in the country.

Cost Reduction Strategy and Firm Profitability during Recession Period : Nigerian Banking Industry Experience

Nigeria banks faced financial crisis due to financial meltdown and government treasury single account policy. This has forced banks to employed strategic cost management techniques like downsizing of employee and reduction of staff salary to survive and sustain their competitiveness in banking industry. This study examines the influence of downsizing of staff and reduction of staff salary on bank profitability. The specific objective is to ascertain the influence of downsizing of employee and reduction of staff salary on return on asset. Survey design was used for the study. Purposive sampling technique was used to select the sample frame from first generation of banks that are licensed with international authorization in Nigeria This study obtained secondary data from the Nigerian Stock Exchange Fact-book and Annual Report and Accounts of the sample population for the period 2006 to 2016. A linear regression analysis was used in estimating the parameter of the model. The study finds out that there is negative relationship between downsizing of employee, reduction of staff salary and profitability. It was discovered that the period after banks downsize their employee, bank performance was at its low ebb. We strongly recommend that banks can reduce their employee salary instead of laying them off. Then, salary increment can be done when the financial performance is improving.

Effects of Treasury Single Account Policy on Corruption in Nigeria

The study examined the effects of treasury single account policy on corruption in Nigeria: analysis from 2011 to 2017. The study adopted a cross sectional survey design and used questionnaire to generate its data. The population of the study consisted of 6393 staff from the federal ministries, departments and agencies (MDAs) in Rivers State. The sample size of the study was determined at 377 staff through the use of Prof. Taro Yameme sample size method. The data were analyzed through the use of descriptive statistics. 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 organisations. The study 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 MDAs, 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. It is evident from the study that the policy will pave the way for the timely payment and capturing of all revenues going into the government treasury, without the intermediation of multiple banking arrangements. The policy will also enable the government at the centre to know its cash position at any given time without any hindrance. The study therefore, recommends that government should secure as soon as possible the appropriate legislative support to facilitate the relevant regulatory environment which will drive the effective implementation of the treasury single account.