The study is on the benefits and challenges of implementation of treasury single account in Nigeria public sector, a case study of Akwa Ibom State Ministry of Finance, Uyo. The main objectives were to identify the benefits accruing the State government of Nigeria from the policy of TSA as well as to identify/evaluate the challenges experienced among MDAs from the implementation of the principle of TSA. The study adopted the survey design method. The Taro Yamane’s formula was used to determine the sample size of 36 respondents while the selection was done using a judgmental sampling approach. Primary data were collected through the administration of questionnaires to the staff of the Ministry so as to facilitate answers to research questions. The primary data were analyzed and the hypotheses were tested at an o.o25% significant level using chi-square (X2). Findings from the study showed that the implementation of treasury single account has significant benefits to the state Government treasury in terms of improving the payment and revenue collection systems.  Based on the findings made, the study, therefore, comes to the conclusion that TSA policy will go a long way in blocking the identified financial leakages in revenue generation and promote transparency and accountability in the public financial system if it is fully implemented. The study recommended among others that the State government should come up with a modality where MDAs can finance their routine costs thereby helping them to function optionally while still implementing the TSA.


i. Cove page - - - - - - -

ii. Fly leaf - - - - - - - -

iii. Title Page - - - - - -

iv. Certification - - - - - - ii

v. Dedication - - - - - - iii

vi. Acknowledgements - - - - - - iv

vii. Abstract - - - - - - - v

viii. Table of Contents - - - - - - vi

ix. List of Tables - - - - - - -

x. List of figures - - - - - - -

xi. List of Appendices - - - - - - -

xii.List of Abbreviations and Acronyms----



1.1 Background of the Study - - - - - 1-2

1.2 Statementsof the Problems- - - - - -

1.3 Objectives of the Study - - - - - 3

1.4 Research Questions - - - - - - 3-4

1.5 Research Hypotheses - - - - - - 4

1.6 Significance of the Study - - - - - 4

1.7 Scope and Limitation of the Study - - -

1.8 Organization of the Study - - - - -

1.9 Operational Definitions of  keyTerms - - - 5-6



2.1 ConceptualReview - - - - - - 7

2.1.1Concept of Treasury Single Account (TSA)---

2.1.2 Objectives of Treasury Single Account - - -

2.1.3 Principles of Treasury Single Account - - -

2.1. Account Under of Treasury Single Account - - -

2.1.5 How Treasury Single Account woks - - -

2.1.6The implementation of Treasury Single Account in Nigeria--

2.1.7 Benefits/Impacts of Treasury Single Account - - -

2.1.8 The challenges of Treasury Single Account in Nigeria - -

2.1.9 Reason for adoption/Implementation of Treasury Single Account -

2.2 Theoretical Review - - - - - - -

2.2.1 StakeholderTheory - - - - - - -

2.2.2 Management Theory - - - - - - -

2.2.3Modem Theory------

2.3 Empirical Review - - - - - -

2.3.1 Review of Empirical studies on Treasury Single Account -

2.  Summary of Related Literature - - - - -

2.5Research Gap------



3.1 ResearchDesign 

3.2 Area of the study

3.3 Population of the study

3. Sample size and sampling techniques

3.5 Source and Nature of Data collection

3.6 Method of Data Analysis 

3.7 Theoretical Specification of model

3.8 Empirical Specification of Model

3.9 Ethical Issues



4.1Presentation of Data------

4.2Analysis ofData ------

4.2.1 Analysis of Research Question - - - -

4.2.2 Test of Hypothesis (es) - - - - -

4.3 Discussion of Findings - - - - -




5.2 Conclusion

5.3 Recommendations 

5.4 Implication of Findings

5.5 Contribution to Knowledge

5.6 Suggestion for further study






Treasury Single Account (TSA) is one of the proven practices in improving the payment and revenue collection systems, and carrying out consistent control of public expenditures by centralizing the free balances of government bank accounts. The TSA infrastructure is usually implemented as a part of the Financial Management Information System (FMIS) solutions.

Government banking arrangements are important factor for efficient management and control of government's cash resources. Such banking arrangements should be designed to minimize the cost of governmental operations, borrowings and maximize the opportunity cost of cash resources. This requires ensuring all cash received is available for carrying out government's expenditure programs and making payments in a timely fashion. It is obvious that emerging markets and low-income countries such as Nigeria have disjointed systems of handling governmental receipts and payments. 

In Nigeria, the Ministry of Finance lacks a unified view and centralized control over government's cash resources. This was evidenced in various reports of leakages and corruption recorded in recent past. As a result, this cash lies idle for extended periods in numerous bank accounts held by spending agencies while the government continues to borrow to execute its budget (Udobi, Kalu, &Elekwachi, 2016; Oni & Adebayo, 2012) p.12.

Adeolu (2015) p.19 defined Treasury Single Account as a public accounting system under which all government revenue, receipts and income are collected into one single account, usually maintained by the country's Central Bank and all payments done through this account as well. The purpose is primarily to ensure accountability of government revenue, enhance transparency and avoid misapplication of public funds. The maintenance of a Treasury Single Account will help to ensure proper cash management by eliminating idle funds usually left with commercial banks and in a way enhance reconciliation of revenue collection and payment.

The need for a unified structure of government bank accounts to enable consolidation and optimal utilization of government cash resources in Nigeria became fully enforced in 2015 by the President of Nigeria, MuhammaduBuhari (Abdulrasheed, 2016) p.6. On the 9th of August, 2015 President MuhammaduBuhari directed all the Ministries, Departments and Agencies (MDAs) to close all their accounts domiciled in the commercial banks and transfer them to the federation account and gave September 15th, 2015 as deadline for total compliance.

According to (Igbokwe-Ibeto, et al. 2016) p.12, TSA is a public accounting system under which all government revenue, receipts and income are collected into one single account, usually maintained by the country’s Central Bank. It is a bank account or a set of linked bank accounts through which the government transacts all its receipts and payments and gets a consolidated view of its cash position at any given time (Onyekpere, 2015) p.18. 

TSA was introduced to reduce the proliferation of bank accounts operated by MDAs and also to promote transparency and accountability among all organs of the government. (Fatile and Adejuwon2017) p. 9 averred that TSA is a useful tool to establish centralized control over government revenue through effective cash management. It also enhances accountability and enables government to know how much is accruing to its accounts on a daily basis. TSA is believed to be an efficient and effective means of managing government revenue generation and system that provide and enforce sufficient self-control mechanism on revenue generation and budget implementation using a daily return from account balances of various MDAs into a central account (Adebisi&Okike, 2016) p.22. TSA according to (Ocheni2016) p.7 also facilitates better fiscal and monetary policy coordination as well as better reconciliation of fiscal and banking data, which in turn improves the quality of fiscal information.

From the forgone, it is established that TSA was introduced to maximize the use of cash through concentration, accountability, reduction in float costs, corrupt practices and to enhance financial discipline in the public sector. This study is triggered to assess the extent to which TSA system can effectively handle these issues by examining the effect of treasury single account (TSA) on Nigerian public sector financial accountability (Yusuf & Mohammed, 2016) p.29 and (Igbokwe-Ibeto, et al, 2016) p.27.

The effect of TSA in the Nigerian public sector has received significant research attention though recently introduced. (Adebisi and Okike 2016) p.17, (Igbokwe-Ibeto, et al 2016) p.15, (Oti, Igbeng and Obim 2016) p.10, (Igbekoyi and Agbaje2017) p.27 also examined this trend. 


Nigeria is a country endowed with natural and human resources, but still fall short of the developmental progress required to positively impact on the well being of the average Nigerian. Mismanagement of public funds, corruption and other financial irregularities has been described as the greatest challenges of the present time and the prevalence in governance has been identified as one major obstacle militating against rapid growth and development [4]. More so, there are numerous corrupt practices that exist in the Country’s public accounting system, lack of transparency and accountability 

Therefore, the problems stated above are mostly owing to the fact that why Nigerians average are not enjoying the impact our resources and as a result of


The objects of this research wok is to appraise the benefits and challenges of  treasury single account in Nigeria public sector, which are stated as follows: 

⦁ To identify the principles of TSA in Nigeria system of treasury management  

⦁ To evaluate the reason for inculcating the principles of TSA among MDAS in Nigeria.

⦁ To identify the challenges experienced among MDAs form the implementation of  TSA

⦁ To identify the benefits accruing to the state government Nigeria form the policy of  TSA.

⦁ To explore ways of reducing challenges experienced by MDAs form the implementation of  TSA


⦁ What are the principles of TSA in Nigeria?

⦁ What are the reason for implementing the principles of TSA among MDAS in Nigeria?

⦁ What are the benefits accruing to the state government Nigeria form the policy of  TSA?

⦁ What are the challenges experienced among MDAs form the implementation of  TSA?

⦁ What are the ways of reducing challenges experienced by MDAs form the implementation of  TSA?


H0: The implementation of treasury single account does not have significant benefits to Nigeria public sector interms of improving the payment and revenue collection systems.  

H1: The implementation of treasury single account have significant benefits to Nigeria public sector interms of improving the payment and revenue collection systems.  


This study is expected to be significant to government, the Ministry of Finance, scholars and the general public in diverse ways. The outcome of the research will sever as an input to policy makers in decision making concerning management of public finance.

This research will also serve as a resources base to others scholars and researchersinterestedin carrying outfurtherresearchin this field subsequently.

The findings of the study on implementation of TSA will enable Ministry of Finance (MOF) to undertake its oversight function of controlling government cash flows in and out of the designated bank account 


The scope of this research is to evaluate the benefits And challenges of the implementation of treasury single account in Nigeria public sector.The research is limited Ministry of Finance.

One of the major limitations of this study is time constraint since the research work is expected to be completed within a specific period of time. Due to the present of financial difficulty, financial constraints is also a limiting factor.

This project covers five chapters and as an examination materials at the  Higher National Diploma (HND) level its volume is restricted to 65-70 page. This is done to curtail the ability of the researcher to coverwider range of the study.


The research project is structure into five chapters.

Chapter one is generally on the introduction which contains background of the study, statement of the problem, objectives of the study, statement of the hypothesis, Research questions, Significance of the study, scope and limitations of the study, organizations of the study and definitions of terms.

Chapter two focuses on the review of related literature. It highlights the conceptual review, theoretical review and empirical review.

Chapter three captures research methodology which contains the design of the study, Area of the study, Population of the study, Sample and Sampling Techniques, source and nature of data, method of Data collection/Instrument, method of Data analysis, theoretical specification of model, empirical specification of model and ethical issues.

Chapter four is consent with data presentation, analysis and interpretation. It presents the study’s variables and analyze them to show the relationship and correlation between them. While Chapter Five presents Findings, Conclusion and Recommendations of the study.


For the purposes of charity the following terms are defined thus:

⦁ Treasury Single Account (TSA):This is a unified structure of government bank account enabling consolidation and optimal utilization of government cash resources.

⦁ Ministries Department and Agencies (MDAs):This is defined as a parastatal, company or agency owned and controlled wholly or partly by the government.

⦁ Revenue:Revenue is defined as the fund required by the government to finance its activities. It is said to be the total amount of income accruing to the state from various sources within a specified period of time.

⦁ Public Sector:This is section of the economy that is owned and operated by the government not private businesses or individuals that provides a range of governmental services, including infrastructure, public transportation, public education, health care, police and military services.

⦁ Accountability: This is defined as the obligation to demonstrates that work has been conducted in accordance with agreed rules and standards and the officers reports fairly and accurately on performance results vis-à-vis mandated roles and/or plans.

⦁ Transparency: This is defined as an altitude of openness towards the public at large about government structure and functions, policy intentions, account and project 



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