Treasury Single Account (TSA) and Economicdevelopment in Nigeria: Accounting & Ethical Issues

Author:

Obara JP L.C.1,Akor Ordu Promise2,Uloma Obara Faith2

Affiliation:

1. Department of Accountancy, Faculty of Management Sciences, Rivers State University, Nkporlu, Port Harcourt, Nigeria

2. Faculty of Business Studies, Ignatius Ajuru University of Education, Rumuolumeni, Port Harcourt, Nigeria

Abstract

Economic development indicators with regard to Nigeria as a nation have not been favourable as development indicators of Nigeria in recent times and over the years has shown. The situation perhaps necessitated the adoption and implementation of TSA policy by the government. Over the years, government has come up with different efforts and policies that could be used towards driving the economy towards the paths of development. One of such policy thrust is the issue of Single Treasury Account (TSA) and how it affects economic development. TSA is an economic policy that ensures and aggregates all revenues and income of government into a single source called treasury and it is controlled by the central bank (CBN) of Nigeria. With its implementation has risen a lot issues which includes ethical as well as accounting issues. This paper succinctly discusses the TSA Policy and its impacts on economic development with a focus on ethical and accounting issues that have arisen in the face of TSA implementation. The paper adopts Meta- analysis methodology. Several theories for the implementation of TSA were reviewed as theoretical framework. Past literature reviewed showed a gap as they left out ethical and accounting issues thus making room for this study. Trends of government revenue for the period of 2010 to 2019 were analysed. Pre TSA and Post TSA period analysis was conducted and findings discussed. The paper discovered via its trend analysis that total government revenue within the Post TSA implementation seems to flatten out when compared to Pre TSA period indicating that even with TSA implementation there is minimal government revenue generation witnessed, hence the need for a review of the policy to overturn the trend. Issues of record management, accounting skills gap as well as accounting infrastructure needed for real time TSA activities are some of the accounting issues. Issues of trust and perception, fraud and corruption in the wake of TSA policy, fall in Naira as well as borrowing implications are some of the ethical issues. All of these have hampers the expected progress of TSA policy towards economic development. The study concludes that whilst TSA policy is a laudable project, these issues must be dealt with other wise, economic development in the face of TSA policy will continue to suffer. The study recommended among others that there should be ethical revolution. All MDAs involved in the use of TSA must be ethical in its implementation and management of accounts. Ethical index can be developed whereby MDAs can be rated according to those that uphold the highest standard of ethics towards TSA policy. There is should training of the accounting manpower at all levels of TSA implementations. Manpower must be familiar with and be ICT compliant to deal with real time TSA transactions. Government must put adequate measures towards poverty reduction. TSA policy cannot not be effective where there is high level of poverty.

Publisher

Inovatus Usluge d.o.o.

Subject

Pharmacology (medical)

Reference21 articles.

1. Abiodun, O.B., Adeyemi, A.O., Adeyokun, M., & Adamu, D. (2021). Effect of treasury single account policy on corruption in Nigeria. Continental Journal of sustainable development, 11(1), 1-15.

2. Abodunrin, O & Omole, F. (2017). Treasury single account (TSA) policy and its effort in combating corruption in Nigeria. International Journal of Social Sciences and Humanities 7 (2),90 – 96.

3. Afikuyomi, (2017, January 7). Nigeria’s monetary policy: between inflation and hard place. Nigerian Financial Watch. http://www.financialwatchngr.com/2017/01/07/nigerias- monetary-policy-between-inflation-and-hard-place/

4. Ajugwe, O. (2020). A critical Analysis of treasury single account policy in Nigeria. International Journal of Research and innovation in social sciences, 4(12),103-110

5. Akajuru, C.A. & Enyioko, N.C.(2018). Effects of treasury single account policy on corruption in Nigeria. Department of public administration, Port Harcourt Polytechnic, Rumuola, Port

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3