Treasury Single Account and Financial Accountability in Federal Ministries, Departments, and Agencies in Nigeria: An Empirical Analysis, 2015–2025 (Published)
The Treasury Single Account (TSA) was rolled out in Nigeria back in September 2015, aiming to streamline government cash resources and tackle financial leakages within Federal Ministries, Departments, and Agencies. Fast forward a decade, and we still have limited and scattered empirical evidence regarding its multifaceted impact on financial accountability. This study delves into how the TSA has influenced financial accountability in Federal MDAs from 2015 to 2025, breaking down accountability into three key areas: revenue transparency, compliance, and fund utilization. We employed a mixed-methods explanatory sequential design for our research. Primary data was gathered from 142 finance and audit officers across 10 carefully chosen Federal MDAs, using a validated structured questionnaire that boasted a reliability coefficient of 0.89. Additionally, we pulled secondary data from the Office of the Accountant-General of the Federation’s Audit Reports and Central Bank of Nigeria TSA bulletins covering the years 2015 to 2024. Our analysis utilized descriptive statistics, independent samples t-test, one-way ANOVA, and multiple regression. The findings showed that the TSA had a significant positive impact on revenue transparency (β = 0.612, p < .001) and demonstrated a strong positive correlation with compliance (r = .54, p = .001). However, its influence on fund utilization was positive yet statistically weak (β = 0.184, p = .037). Notably, revenue-generating MDAs achieved significantly higher accountability scores compared to service-based MDAs (F = 11.32, p = .001), highlighting disparities in compliance and operational results. Furthermore, GIFMIS and IPPIS played a positive mediating role in the relationship between TSA and financial accountability. The study concludes that while the TSA is essential, it alone isn’t enough to ensure comprehensive financial accountability. The benefits of accountability are maximized when the TSA is paired with robust sanction regimes, timely fund releases, and full integration with GIFMIS and IPPIS. The primary aim of this study is to explore the impact of the TSA on financial accountability in Federal MDAs from 2015 to 2025.
Keywords: Financial Accountability, GIFMIS, Nigeria, public financial management. Federal MDAs, treasury single account