Treasury Single Account and Performance of the Public Sector in Nigeria

  • Nkanbia-Davies Department of Accountancy, Kenule Beeson Saro-Wiwa Polytechnic, Bori, Rivers State.
  • Lilian Okorite Department of Accountancy, Kenule Beeson Saro-Wiwa Polytechnic, Bori, Rivers State.
  • Okafor Department of Accounting, Ignatius Ajuru University of Education, Rumuolumeni, Port Harcourt, Rivers State
  • Chinyere Department of Accounting, Ignatius Ajuru University of Education, Rumuolumeni, Port Harcourt, Rivers State
  • Penu Department of Banking and Finance, Kenule Beeson Saro-Wiwa Polytechnic, Bori, Rivers State
  • Samuel Department of Banking and Finance, Kenule Beeson Saro-Wiwa Polytechnic, Bori, Rivers State
  • Lucky Department of Banking and Finance, Kenule Beeson Saro-Wiwa Polytechnic, Bori, Rivers State
DOI: https://doi.org/10.31149/ijefsd.v4i1.2605
Keywords: Treasury Single Account, Performance, Government Expenditure, Economy

Abstract

This study examined the relationship between Treasury Single Account and the performance of public sector in Nigeria. Quarterly secondary data were sourced from Central Bank of Nigeria’s Statistical Bulletin over the period 2010Q1 to 2020Q2.  The paired-sample t-test as well as the Least Squares regression estimation techniques were employed to analyze whether significant differences existed in government revenue, expenditure, debt and GDP before and after the implementation of TSA as well as to ascertain the effect of TSA on the economy. Findings revealed that TSA has an insignificant negative influence on GDP and concluded that TSA implementation has not contributed positively to GDP in Nigeria. The study recommended that government should reappraise existing fiscal policy framework in order to enhance macroeconomic performance. Further, the legal framework for TSA should be reinforced to improve disbursement efficiency so as to ensure that it is not used as a tool in achieving political dominance.

References

1. Adeolu, I. A. (2015). Understanding the treasury single account system- things you should know. Business and Economy Market Development, Abuja. Office of the Accountant General of the Federation.
2. African Development Bank Group (nd) Infrastructure development (retrieved from https://www.afdb.org/en/knowledge/publication....../infrastructure-development).
3. Ajetunmobi, O. O., Adesina, K., Faboyede, S. O., & Adejana, B. P. (2017).The impact of treasury single account on the liquidity of banks in Nigeria. Journal of Accounting, Finance and Auditing Studies, 3(3), 132-143.
4. Amaefule, L. I. & Barigbon, T. M. (2019). Treasury single account and performance of Federal Government of Nigeria: A pre-post analysis. Accounting and Taxation Review, 3(4), 70-82.
5. Andornimye, L. (2017). Treasury single account (TSA) and aggregate cash resources control in Nigeria. Scholars of Journal of Economics, Business and Management, 4(4), 265-268
6. Babatunde, S. A. (2018). Spending on infrastructure and economic growth in Nigeria. Economic Research 3(1), 997-1014.
7. Bashir, Y. M. (2016). Effects of treasury single account on public finance management in Nigeria. Research Journal of Finance and Accounting, 7(6), 164-170.
8. Bilesanmi, A. O. (2018). On the effect of implementation of treasury single account on economic growth in Nigeria. International Jpurnal of Research and Innovation in Social Sciences, 2(12), 337-346.
9. Echekoba, F. N., Obi-Nwosu,, V.O., Ubesie, C. M., & Mbanefo, P. A. (2020). Effect of treasury single account (TSA) on Nigerian banks’ performance. International Journal of Advanced Academic Research (Social and Management Sciences), 6(6), 16-29.
10. Effiong, S. A. & Obun, D. N. (2020). Treasury single account and economic growth: Asymptomatic evaluation, Journal of Critical Reviews, 7(13):1396-1406.
11. Kanu, C. (2016). Impact of treasury single account on the liquidity. ABC Journal of Advanced Research, 5, 43-52.
12. Ilori, F. O., Etuntade, A. O., Jemiseye, A. R., & Ilori, A. D. (2019). Implementation effect of treasury single account on the economy of Nigeria: the perspective of banking sector. European Journal of Accounting, Auditing and Finance Research, 7(10), 23-31.
13. Nelson, C., Adeoye, T., & Ogah, D. (2015). Treasury single account: Giving life to Jonathan’s dead policy directives. Sunday Guardian Newspaper, 52-58.
14. Nwakalobo, A. B. S. (2015). Revenue generation capacity in developing countries: implications for physical and human capital development in Tanzania, Kenya, and Uganda. African Journal of Economic Review 3(1), 21-38.
15. Ogbaro, E.O., & Omotoso, D. C. (2017). Impact of infrastructural development on economic growth in Nigeria. Nigerian Journal of Management Sciences, 6(1), 270-275.
16. Ogbeifun, I. E., Ajetunmobi, T. P., Moronkeji, T. A., & Adindu, G. A. (). Revenue generation and economic growth in Nigeria. International Journal of Current Research
17. Oguntodu, J.A., Alalade, Y. S. A., Adekunle, Y. A., & Adegbie, F. F. (2016). Treasury single account and Nigeria’s economy between 1999 and 2015: an assessment. Journal of Accounting and Finance Management, 2(6), 62-75.
18. Okerekeoti, C. U., & Okoye, E. I. (2017). Treasury single account (TSA) in Nigeria: a theoretical perspective. The 2017 International Conference on African Entrepreneurship and Innovation for Sustainable Development (AEISD). 558-576.
19. Olowokure, T. O., & Adetoso, J. A. (2019). Treasury single account and money deposit bank crises in Nigeria. Developing Countries Studies, 7, 93-101.
20. Rahman, N. H. A., Ismail, S., & Ridzuan, A. R. (2019). How does public debt affect economic growth? A systematic review. Cogent Business and Management, 6(1), 1-16.
21. Sahara Reporters (2017). Aisha Buhari berates Aso Rock Clinic CMD. Http:// Saharareporters.com/2017/10/09/aisha-bhari-berates-aso-rock-clinic-cmd.
22. Sawada, Y. (2015). The impact of infrastructure in development: A selective survey. ADBI Working Paper 511. Tokyo: Asian Development Bank Institute.
23. Taiwo, O. (2015). Treasury single account and taxation (part 1). Business Day, Wednesday 7th October 2015.
24. World Bank (2007). Infrastructure Development. The World Bank Annual Report 2007. DC
Published
2022-01-17
How to Cite
Nkanbia-Davies, Okorite, L., Okafor, Chinyere, Penu, Samuel, & Lucky. (2022). Treasury Single Account and Performance of the Public Sector in Nigeria. International Journal on Economics, Finance and Sustainable Development, 4(1), 67-78. https://doi.org/10.31149/ijefsd.v4i1.2605
Issue
Vol. 4 No. 1 (2022): IJEFSD
Section
Articles