THE EFFECTIVENESS OF TREASURY SINGLE ACCOUNT IN UNIVERSITY OF BENIN

ABSTRACT

This paper assessed the effects of treasury single account (TSA) implementation on management and transparency of the use of public funds generated in University of Benin, Benin-city, Edo State. The population of the study consisted of 20 staff of the Bursary unit. No sampling was done as the whole targeted population was used for the study. The instrument for data collection was a structured questionnaire which was validated by two experts both from the University of Benin. The reliability of the questionnaire was carried out using the test retest method. The reliability showed 0.75 cronbach alpha indicating the instrument is reliable. Chisquare was employed to test the hypothesis. Findings revealed that Treasury Single Account has a significant impact on curbing mismanagement and misappropriation of government revenue. Treasury Single Account has no significant impact on financial leakage; and Treasury Single Account does not influence the level of government transparency on the use of public funds. The study therefore recommends amongst others that government should engage in immense public enlightenment and clarification around the significance of the policy to nurture its success and the government should analyse the TSA policy to precisely safeguard the financial sovereignty of the Nigerian educational institutions.