Treasury Single Account and Reduction of Financial Crime in the Enugu State Civil Service Commission

Abstract

Government’s efforts at socio-economic development have often been whittled down by inadequate finance and the outright mismanagement and embezzlement of the available resources. Hence, it is regrettable the level of poverty in Nigeria, the rate of unemployment which has worsened with low life expectancy and increased in maternal mortality rates etc. The study “Treasury Single Account and Reduction of Financial Crime in Enugu state civil service Commission., Nigeria’ was undertaken to assess amongst others the effects of Treasury Single Account on the promotion of financial accountability and financial discipline in the state civil service. The study was anchored on Barley’s Agency Theory of 1973. The study adopted a descriptive and survey design. The result revealed amongst others that there is a positive relationship between Treasury Single Account and promotion of financial accountability and discipline in Enugu State civil service Commission. However, dissatisfaction was more with the abuse of the entire process, the level of awareness creation of the policy, coverage, poor network services, poor funding amongst others. The implication is that the policy is yet to achieve the basic purpose of its establishment of ensuring increase in government revenue by completely reducing leakages, and to reduce corruption to its barest minimum in the country. The study therefore recommended amongst others that in improving accountability of public sector funds, there should be appropriate sanctions where financial irregularities are discovered. This will strengthen the goal of the TSA system in Nigeria thereby by instilling discipline and accountability of public sector funds.