Treasury Single Account as an instrument of good governance in Nigeria

Abstract

The embezzlement of public funds has been a recurring phenomenon that has eating deep into Nigerian public sector due mainly to lack of proper accounting and controlling mechanism by the public servant. This paper examined the possible ways of monitoring, harmonizing and consolidating revenues, collection, enhance transparency, equity, rule of law and avoid misapplication of public funds which in essence will bring sanity in government. In the course of generating data, descriptive  survey approaches were employed, while both primary and secondary sources of data collection were used. In primary data sources questionnaire were employed while on the secondary sources, newspapers, publications, journals, bulletin and other
related books as well as internet sources were used as a secondary sources of data collection. The treasury single account will enable the government to operate without unnecessary charges from the commercial banks as well as the control of income leakages. Methodologically, based on the literatures reviewed the researcher developed a conceptual framework for qualitative
analysis using multiple case study strategy. The findings of the study reveals among others; the government at the centre should enlighten the public on the effect of TSA, Government should put more effort in ensuring national integrity tracking system on all public servants. Government should ensure timely response and remittances to concerned agencies; in addition to that, the
government should identify people with integrity to manage revenue generating agencies in order to safeguard government from income leakages. They should also place stiffer measures need to be put in place for adequate compliance to the policy.