AN EMPIRICAL INVESTIGATION INTO THE EXTENT OF COMPLIANCE WITH THE GOVERNMENT FINANCIAL REGULATION IN THE NIGERIAN PUBLIC SECTOR
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TABLE OF CONTENT: CHAPTER ONE INTRODUCTION 1.1
Background of the Study 1.2
Statement of the Research Problem 1.3
Objectives of the Study 1.4
Significance of the Study 1.5
Research Questions 1.6
Research Hypothesis 1.7
Conceptual and Operational Definition 1.8
Assumptions 1.9
Limitations of the Study CHAPTER TWO LITERATURE REVIEW 2.1
Sources of Literature 2.2
The Review 2.3
Summary of Literature Review CHAPTER THREE RESEARCH
METHODOLOGY 3.1
Research Method 3.2
Research Design 3.3
Research Sample 3.4
Measuring Instrument 3.5
Data Collection 3.6
Data Analysis 3.7
Expected Result CHAPTER FOUR DATA ANALYSIS AND
RESULTS 4.1
Data Analysis 4.2
Results 4.3
Discussion CHAPTER FIVE SUMMARY AND
RECOMMENDATIONS 5.1
Summary 5.2
Recommendations for Further Study Bibliography |
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CHAPTER
ONE |
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INTRODUCTION 1.1
BACKGROUND
TO THE STUDY The
machinery for financial administration of the federation was put in place
between 1956 and 1958. The Government Financial Regulations was put in place
in 1958, and since then it had seen only two reviews, in 1975/76 and
1990/2000. This was brought about by the 1988 Civil Service Reforms (Oshisami
1992). The
preface of the Commissioner (Minister) for Finance to the Revised Financial
Regulations (1976) throws light on the position of government and its
expectation on the role of the Financial Regulations in ensuring
accountability, prevention of abuse, misuse or misappropriation of government
funds (Oshisami, 1992). Since
1976 when the Financial Regulations were last reviewed and published, the
conduct of government business has undergone many transformations. From the
mid 1980s especially, anyone with the slightest idea about how the machinery
of good government should work, would have noticed that the time-tested ways
of conducting government business have degenerated and fallen apart.
Compliance with the Public Service Rules and Financial Regulations has been
jettisoned and instead, regimes of indiscipline, disorder and arbitrariness
were established (Obasanjo, 2000). The
heart of any country’s government administration is the management and
control of its public purse. Government business is run in accordance to laid
down rules and regulations. Obasanjo (2001) opined that, “All the elements
that enhance efficiency, reliability and continuity of the system have been
tampered with, resulting in major and saver setbacks for the conduct of
government business. Government business was operated as if laws and rules on
longer existed to govern the way and the manner public funds were expended.
Public funds were disbursed illegally without recourse to the Financial
Regulations: facilities of Central Bank of Nigeria (CBN) and the Nigeria
Security Printing and Minting Company (NSPM) were recklessly abused and the
Contingencies Fund was used without regard to the rules governing its
operation. In
recent years, the number and monetary value of public sector activities have
increased substantially and in Nigeria represent the main determinant of
private sector prosperity. This increase in governmental activities and their
importance had brought with it an increased clamor for more accountability.
Officials and employees who manage these activities need to render adequate
and timely accounts of the activities to the public. The public needs to
receive reliable and easily understood accountability reports in order to
access the performance of those entrusted with public resources. Thus, the
accountability concept is inherent in the governance process of any nation.
In fact, the obligations of person or entities, including public enterprises
and corporations, entrusted with public resources to be answerable for the
fiscal, managerial and other responsibilities that have been conferred on
them and to report faithfully and truthfully to those that have conferred
these responsibilities on them, is heart and soul of good democratic
practice. It is therefore, to ensure that the legitimate processes of
accountability are reinforced, that financial, accounting and audit
regulations are put in place in the public sector (Owoyemi, 2005). 1.2
STATEMENT
OF RESEARCH PROBLEM The
rate of fund misappropriation in the Nigeria public sector is on the
increase. This has led to the public asking questions as to the extent of
compliance to laid down rules and regulations by the officials saddled with
the responsibility of managing public funds. According
to Obasanjo (2000), all the elements that enhance efficiency, reliability and
continuity of the system have been tampered with resulting in major and
severe setbacks for the conduct of government business. Some
of these questions being asked by the public include: 1.
Are payment procedures carried out in
line with the federal government financial regulations? 2.
How are adjustments to transfer from
various government accounts treated? 3.
How are bank accounts and cheques
managed? 4.
How is the custody of public money,
stamps, security books and documents, amongst others being arranged for? 5.
How do public officers charged with
the duty of managing imprest go about it? 6.
How is the payroll prepared and
controlled? 7.
Is the supervision and custody of
stores in line with the federal government financial regulations? 8.
What is the level of compliance by
public/civil servants with the federal government financial regulations while
carrying out the accounting functions? 1.3
OBJECTIVES
OF THE STUDY The
objective of this study is to proffer solutions to the problems of government
financial management and control. Such objectives include; 1.
To ascertain the level of compliance
by public/civil servants with the federal government financial regulations
while carrying out the accounting function; 2.
To find out if payment procedures are
in line with the federal government financial regulations; 3.
To find out how adjustments to the
various government accounts are treated; 4.
To find out how bank accounts and
cheques are managed; 5.
To find out how the custody of public
money, stamps, security books and documents amongst others are being arranged
for; 6.
To find out how public officers
charged with the duty of managing imprest go about their duties; 7.
To find out whether the preparation
and control of the payroll system in the public sector is in line with the
federal government financial regulations; and 8.
To find out if the supervision and
custody stores are in line with the federal government financial regulations.
1.4
STATEMENT
OF RESEARCH HYPOTHESIS The
following hypotheses direct the thrust of this study. 1. Ho: There is no relationship between payment
procedure in the public sector and the federal government financial
regulations. H1: There is a positive relationship between
payment procedure in the public sector and the federal government financial
regulations. 2. Ho: There is no relationship between
supervision and custody of stores and the federal government financial
regulations. H1: There is a positive relationship between
supervision and custody of stores and the federal government financial
regulations. 3. Ho: The preparation and control of the payroll
system in the public sector is not in line with the federal government
financial regulations. H1: The preparation and control of the payroll
system in the public sector is in line with the federal government financial
regulations. 1.5
SIGNIFICANCE
OF THE STUDY This
research will be of a great importance by way of its potentials in expanding
the frontiers of knowledge. Thus, emphasis is laid on its academic, economic
and social importance. It will fetch practical benefits, which includes the
following: i.
The results of this study will be
relevant to the government of Nigeria in ensuring that financial plans are
implemented according to government decisions and expectations. ii.
It will help in sensitizing the
government of Nigeria in ensuring that all relevant guidelines and
regulations are used correctly in order to secure acceptable accountability
of, and transparency in the use of public funds. iii.
It will enable the government to make
informed decisions on the allocation of its resources. iv.
It will help to create awareness on
the part of government employees to account for their financial activities. v.
It will also lend to public
credibility of the activities of public servants in managing and controlling
public funds. 1.6
SCOPE
OF STUDY The
study was restricted to the Nigerian public sector, specifically the federal
and state public services. It was the researcher’s conviction that apart from
it being the engine room for economic development in Nigeria, the sector had
witnessed tremendous growth and development over time. Ministries/Extra-Ministerial
Departments in Edo State were selected for the survey. A geographical scope
of the study, broke into system of accounting for public funds and the compliance
to rules and regulations guiding such system, was adopted. The aim was to
facilitate a thorough analysis of the Ministries/Extra-Ministerial
Departments’ implementation of rules and regulations guiding their system of
accounting. |
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