Treasury Single Account and Accountability in Selected Ministries, Departments and Agencies (MDAs) in Ibadan, Oyo State, Nigeria
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Date
2023-12
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Lead City University
Abstract
Despite the objectives of TSA was to improve the Accountability of the Ministries, Departments and Agencies, there have been embezzlement and mismanagement of the funds of the MDAs. This study seeks to investigate TSA and the Accountability of MDAs in Ibadan, Oyo state. The population of the study included all management and staff of the MDAs in Ibadan, Oyo state. A sample of 250 staffs across 5 MDAs were selected using purposive
sampling technique. A Questionnaire containing five scales was used for data collection. The mean analysis and Pearson product moment correlation statistics were used to answer the research question raised, and test the hypotheses formulated at 0.05 level of significance. The findings revealed that treasury single account encourages good accountability of public funds in the MDAs in Ibadan, Oyo State. Findings also revealed that treasury single account was effective in eliminating operational inefficiency and cost associated with maintaining multiple accounts across MDAs in Ibadan, Oyo state. The study recommended that Government should create further strategies to cooperate with relevant organizations for effective compliance with the policy governing the treasury single account so as to ensure adequate cash flow and revenue generation, among others.
Keywords: Treasury Single Account (TSA), Accountability, Ministries, Departments and Agencies (MDAs).
Word Count: 206
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Keywords
Treasury Single Account (TSA), Accountability, Ministries, Departments and Agencies (MDAs).