Treasury Single Account (TSA) and Management of Financial Resources in Federal Tertiary Institutions in Kwara State, Nigeria
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2022-12
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Lead City University
Abstract
The Treasury Single Account (TSA) was recently implemented fully in the Nigerian economy by the present government to ensure prudence and probity in the management of financial resources. TSA came as a quick fix to regulate the level of accountability and transparency in managing the financial resources of the government of the country. With the TSA, the government expects to block all loopholes and leakages of financial resources of the government and also ensure a robust financial management system. This paper, therefore, provides the conceptual meaning of the TSA and also, outlines its expected benefits to the economy of Nigeria. This paper also analyzes the objectives of the TSA systems and its various accounts. This paper finally discussed the prospects of the TSA system and its challenges and concludes that the system requires political will, honesty and determination to overcome the various challenges identified in the paper to achieve the expected benefits of the system. It was recommended that the policy framework of TSA should be reviewed and amended where necessary to include training of bursary staffs in the use of ICT amongst others.
The survey research design was adopted, the population of the study covered all members of staff of the Bursary department of both University of Ilorin (143 staffs) and Federal Polytechnic Offa (40 staffs).The research instrument used is the structured questionnaire, while data was collected through primary source. The data collected was quantified and statistically analyzed using frequency table, correlation and regression analysis. The result of the data collected was analyzed using Statistical Package for the Social Sciences (SPSS) while computer software was used to determine the correlation and regression of the various variables for easy interpretation. All tests were performed with 0.05 level of significance with P-value of 0.000.
Keywords: collection, disbursement, TSA system, subsidiary account, financial resources.
Word Count: 295
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Kate Turabian