TREASURY SINGLE ACCOUNT POLICY AND ERADICATION OF CORRUPTION IN NIGERIA’S FOURTH REPUBLIC

This research adopts the qualitative study, the study duels on extracting relevant information from existing literatures. The study found that the treasury single account (TSA) policy was introduced to block financial leakages, reduce corruption, promote transparency and prevent mismanagement of government’s revenue in public sector organizations. The study revealed that the major challenges hampering the effective and efficient implementation of the treasury single account (TSA) policy include: Inability of federal government to remit appropriately to the various MDAs, uncertainties, underlying federal government inactions and actions, bottlenecks/bureaucracy, internet platform delays, inefficient human capital development, and time wasting in the banks and payment points. It is evident from the study that the policy will pave the way for the timely payment and capturing of all revenues going into the government treasury, without the intermediation of multiple banking arrangements. The policy will also enable the government at the center to know its cash position at any given time without any hindrance. The study therefore, recommends that government should secure as soon as possible the appropriate legislative support to facilitate the relevant regulatory environment which will drive the effective implementation of the treasury single account.