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

Authors: Isaac Babatope Taiwo; Khadijah Adeola Idowu; Yusuf Babatunde Adeneye

Addresses: Department of Accounting, Ekiti State University, 362103, Ado Ekiti, Nigeria; School of Management, Universiti Sains Malaysia, 11800, Gelugor, Penang, Malaysia ' Department of Accounting, Lagos State University, Ojo 102101, Lagos, Nigeria ' Faculty of Hospitality, Tourism and Wellness, Universiti Malaysia Kelantan, Pengkalan Chepa, 16100 Kota Bharu Kelantan, Malaysia

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.

Keywords: treasury single account; TSA; accountability; transparency; political class; Nigeria.

DOI: 10.1504/IJSSM.2021.123210

International Journal of Sustainable Strategic Management, 2021 Vol.9 No.2, pp.139 - 160

Received: 17 Dec 2021
Accepted: 18 Dec 2021
Published online: 01 Jun 2022 *

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