Exploring the financial accountability and transparency of the treasury single account policy - a qualitative study Online publication date: Wed, 01-Jun-2022
by Isaac Babatope Taiwo; Khadijah Adeola Idowu; Yusuf Babatunde Adeneye
International Journal of Sustainable Strategic Management (IJSSM), Vol. 9, No. 2, 2021
Abstract: This paper highlights the financial accountability and transparency of treasury single account (TSA) in Nigeria. The growing level of financial corruption in government ministries, departments, and agencies (MDAs) has called for the implementation of the TSA to reduce financial frauds, embezzlements, and leakages. Qualitative data were mainly collected using in-depth interviews with the directors of the Accountant General Office and the Ministry of Finance. The findings reveal that the role of TSA is relevant in the blockage of revenue leakages and loopholes, development of cash management strategy, monitoring of all MDAs' accounts, and avoidance of multiple bank accounts of MDAs. We find evidence that political class support is the key factor that influenced the implementation of TSA policy. However, human, technical, and institutional factors are among the perceived risk factors that are responsible for the low level of TSA implementation.
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