Abstract:The Treasury Single Account is a financial tool that unifies all government accounts in a single pool for effective cash management. It ensures that all tax and non-tax revenues are collected from all sources and payments due are made correctly in a timely manner and that government's cash balances are optimally managed to reduce borrowing costs. TSA was introduced to bring an end to the fragmented multiple accounts kept by all Ministries, Departments and Agencies. The objective of this paper is to examine the effectiveness of the TSA as a tool for effective cash management. The research examines the objectives and benefits of TSA as a catalyst for public financial management in Nigeria. It highlights the emerging issues in TSA implementation, its operational guidelines and essential requirements of the TSA in federating states and the stakeholders responsibilities in the operation of the policy. The paper also discusses the various operational challenges facing the implementation of TSA in Nigeria and concluded that TSA as a financial tool can only achieve its desired objectives in blocking loopholes of wastages and leakages, curbing corruption and financial recklessness in ranks and file of government functionaries and enthroning transparency and probity, if government put in place enabling environment and adequate legislative supports for the smooth implementation of the policy with minimum infrastructural and technological facilities needed by the MDAs for meaningful compliance. Only gradual implementation of TSA policy can serve as a catalyst and a tool for effective cash management in Nigeria.
The study investigated the financial sustainability of the federal health institutions in Nigeria. The population of the study comprised twenty-five (25) federal health institutions from four (4) geo-political zones and Abuja. Secondary data were sourced from Annual General Warrant from the Office of the Accountant General of the Federation and Audited Financial Statements of the Public Sector Entities. Data obtained were analyzed using Balanced Score Card techniques. The results showed that none of the sampled federal health institutions in Nigeria attained a basic standard of sustainability test, whereby the ratios of their Internally Generated Revenue to recurrent expenditure is between (40 – 60)% or 0.04 and 0.6.This indicates the inability of the institutions to generate sufficient revenue independently to cover even the operational expenses in the short-run. Also, the results equally showed the highest positive operating surplus ratios of 1%-5% of operational sustainability indicating that the health institutions heavily depended on central authority’s funding for their survival. The results further revealed that none of the federal health institutions attained both intermediate and advance standards of sustainability tests. In conclusion, federal health institutions in Nigeria are heavily dependent on central authority for sustenance. Therefore, the central authorities should roll out blueprints that will make the institutions widen their internally generated revenue capacity and reduce the reliance on central authority’s funding for survival.
This study examined the cause of the controversy in the implementation of the contributory pension scheme among the Ministries, Departments and Agencies (MDAs) in Nigeria. Descriptive methods of analysis were used to analyse the data. The result showed that misstatement in the disclosure of employees' contribution is the major cause of the controversy. Also, the result revealed that the personnel cost releases to the MDAs since the inception of the scheme is 92.5% of the gross personnel cost budget of each institution while the balance of 7.5% of the personnel cost budget represents the deduction at "source" for the individual employee which is being credited to the employee's Retirement Saving Account open with the employee's choice Pension Fund Administrators through the Central Bank of Nigeria. More also, the findings established that discrepancies in the presentation of the employees' deduction in the payrolls and individual employees' payslips largely accounted for the continuous restiveness among the Ministries, Department and Agencies (MDAs) in Nigeria. The resultsshowed that some MDAs disclosed the employees' deduction as a memorandum entry in the individual employee's payslips andpayroll, while others disclosed it under the basic salary column as additional deduction by the MDAsfrom the monthly employee's emolument. The study concluded that only uniform accounting treatment of the employees' deduction in the personnel accounting records will endthe cold war in the implementation of the Contributory Pension Scheme among the employees in the Nigerian Ministries, Department and Agencies.
The study investigated the implementation of budget reform and the level of compliance in Nigeria. Purposive Sampling Technique was employed to select the two sectors – Ministry of Education and Health – where the adoption and implementation of the budget reform were popular. The population of the study comprised fifty (50) MDAs of the two ministries. Primary data were sourced from five hundred (500) respondents through structured questionnaire administered to the selected Ministries, Departments and Agencies. Data were analyzed using the Factor analysis technique. The results showed that only 55% of the MDAs within the sample size exhibited high compliance level with the budget reform while 45% demonstrated low compliance with the budget reform mandate. The summary of the overall results, therefore, revealed that there was no full compliance with the budget reforms’ directives among the MDAs during the research period. The study concludes that only continuous and critical re-assessments of the budget reform and its periodic re-appraisals by the central authorities in Nigeria can guarantee full compliance and thorough implementation in order to achieve desired results of the reforms in the public sector entities in Nigeria. The study, therefore, recommends that a central monitoring unit be created jointly by the Federal Ministry of Finance and the Office of the Accountant-General of the federation to ensure strict compliance, which will in turn enhance transparency and accountability in the public sector entities in Nigeria.
Fraudulent practices in the banking sector, especially as it affects the functions of the treasury department has been a subject of intense concern to policymakers and other stakeholders. It is, however, believed that if more female bank staff are utilised, it could lead to a better management of risk. This study investigated the nexus between gender accounting and the dependent variable. Structured questionnaire was administered on 10 staff of each of the Nigerian Deposit Money Banks. The population, which also represents the sample size comprises of 10 banks purposively selected with only 39% responses received. Data were analysed with the aid of logit regression. The results showed a significant positive relationship between gender accounting and risk management in treasury functions (Adj. R2 =0.680, F-stat = 21.145, p<0.05). This implies that increase in the independent variable will reduce the risk associated with the treasury functions of banks in Nigeria with diverse results from the three proxies of independent variable. The descriptive results showed that more women in the treasury will minimise theft of funds. The study concluded the need for policymakers and regulatory authorities to establish the policy that will encourage more of women inclusion in the banking treasury department.
This study analyzed the trends and patterns of capital structure and performance of financial firms in the Nigerian banking sectorwith panel data of 14 commercial banks in Nigeria over the periods 2005-2012..Descriptive methods of analysis were employed to analyze the trends and performance. The result showed that the banks exhibit 75.2% short-term financing. It shows that Nigerian banks relied heavily on external finance which is short-term in nature. Also, the result revealed that towards the end of 2008 and early 2009, the collapse of the interbank markets brought about a critical reassessment of the banksby the Central Bank of Nigeria. The study suggests that policy makers should find the means of overhauling the banking sector before its impending doom and a policy measures capable of increasing the fixed asset base of Nigerian banks.
The study examined the efficiency of Decision- Making Units (DMUs) in the public sector entities in Nigeria. The study focused on the efficiency in the utilization of personnel cost releases to the federal educational and health institutions by the Federal Government of Nigeria. Secondary data were sourced from the Annual General Warrants from Audited financial statements of the Public Sector entities. Sampled size for the study comprised twenty-five (25) DMUs each from both sectors out of the major Federal Ministries from four (4) geo-political Zones and Abuja. Data were analyzed using Data Envelopment Analysis Model (DEA). The results of the average efficiency scores from both Charnes, Cooper and Rhodes Model (CCR) and Banker, Charnes and Cooper (BCC) on the DMUs showed that the sectors were marginally inefficient. The summary of the overall results therefore revealed that the DMUs under health sector performed averagely better than education sector in the utilization of personnel cost allocations. The study recommended that a central monitoring team be created jointly by the Federal Ministry of Finance and Accountant-General’s office to ensure full utilization of personnel cost releases to the DMUs. The study therefore concluded that only continuous assessment and periodic appraisal of the personnel cost utilization by the supervising ministries, can guarantee full efficiency in the utilization of personnel cost releases.
This study appraised the utilization of overhead grants’ efficiency among federal educational institutions in Nigeria between2011-2019. Data for the study were sourced from the Annual Audited Financial Statements of the public sector entities. The sampled size for the study comprised (25) federal educational institutions out of 69 federal educational institutions drawn across the country among four (4) geo-political zones. Data were analyzed using Data Envelopment Analysis. The results of the average efficiency scores from both CCR and BBC models showed that the entities were averagely efficient in overhead grants’ utilization. Overall results showed that federal educational institutions have high capacity to absorb sufficient overhead grants from the center. The study therefore concluded that there is need for an improved overhead grants releases to the federal educational institutions to achieve effective service deliveries of their core mandates. The study recommended a continuous assessment and periodic appraisal of the overhead grants’ utilization among the institutions by their supervising ministry to achieve full efficiency.
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