An Evaluation Of Treasury Single Account (TSA) Effectiveness In Selected Federal Institutions

Abstract

This study evaluated the effectiveness of the policy of treasury single account (TSA) in federal institutions in Nigeria. Specifically the study analyzed the effectiveness of treasury single account in the selected institutions, and examined the efficacy of treasury single account in curbing corruption in the selected institutions. The study made use on survey research design of the cross sectional type, evaluating treasury single account in the context of selected federal institutions in Ekiti state. Purposive sampling technique were used to select federal institutions including Federal University of Technology Akure (FUTA), Federal Polytechnic Ado Ekiti, Federal University Oye, and Federal Medical Centre, Ido, while random sampling was used to select representatives from each of the institution 30 respondents were sampled from each of the institutions with focus on staffs working out ofAudit and Bursary Departments, thus making a total number of 120 respondents sampled for the study. Data were collected using self-structured questionnaire and responses were analyzed using frequency count and percentage analysis. Result showed that implementation of treasury single account is considerably effective among federal institutions, fostering better financial management, accountability and transparency, elimination of operational inefficiencies and consistency over time. In the same vein the study established that treasury single account is efficacious in curbing corruption among federal institutions, facilitation of cash management and reduction of the incidence of public fund misappropriation, which had hither-to bolstered transparency and accountability of federal institutions in the country. Hence government further harness every aspect of the policy, creating convenience through technological improved, and balancing of interest of participants in the transaction process in order to help sustain the effectiveness of the policy in the country.