Effect of Treasury Single Account (TSA) on Corruption and Fraud Management in the Nigerian Public Sector (A Conceptual Overview)

The Nigeria nation is bestowed with abundant natural and human resources, yet, it is still classified as a developing nation as these resources are yet to be impactful on the wellbeing of the citizenry. Corruption and fraud in the nations’ public sector have been described as the greatest challenges of our time and prevalence of high level of corruption in governance has been identified as one major obstacle militating against the rapid growth and development. This study examines the extents to which the implementation of the TSA policy has affected the minimization of corruption and other unwholesome fraudulent practices in the Nigerian public sector. The study was conducted as a conceptual study by reviewing the works of several other researchers regarding the effect of TSA. The study concluded that notwithstanding the various strategies put in place by successive administrations in Nigeria to combat corruption and public sector fraud, it has persisted because of the lack of political will to put a definite end to the monster. The study therefore recommends that the government through appropriate agencies should strengthen the process of TSA compliance. Additionally, legislations should be enacted that will institutionize the TSA across all tiers of government therefore avoiding deviation at the Federal level by other successive governments. Public Sector Accountants should be trained to meet up with the challenges of TSA operations. Finally, bureaucratic challenges surrounding the TSA should be minimized to the least possible level.