Treasury Single Account and Its Effect on Fraud Detection and Prevention in Federal Tertiary Institutions in Adamawa State

Abstract

The purpose of this study is to assess Treasury Single Account and Its Effect on Fraud Detection and Prevention in Federal Tertiary Institutions in Adamawa State. The research design adopted for the study is the survey research. The population of the study comprised of 30 bursary staff from Modibbo Adama University Yola, Federal College of Education Yola and Federal Polytechnic Mubi. This study is anchored on statistical test of formulated hypotheses based on the Multiple Correlation Coefficient ‘r’ by using the Statistical Package for Social Sciences (SPSS). Data were gathered using questionnaire and interview (primary data) as well as review of books, journals and internet (secondary data). 90 copies of questionnaire were distributed to the respondents and only 60 were returned. Two hypotheses were formulated, the first to test whether treasury single account (TSA) affects fraud detection and prevention in tertiary institutions and the second to determine the level of compliance with the TSA and a model was formulated. Findings from hypothesis one show that about 92.1% of the proportion of change in fraud detection and prevention is being predicted by the treasury single account (TSA), hence the null hypothesis was rejected. With regards to hypothesis two, a correlation level of 55.0% (.550) indicates a significant level of compliance with the TSA by federal tertiary institutions, therefore the null hypothesis was rejected. The study therefore recommends that the treasury single account regime should be strengthened to guard against financial improprieties and given the success of TSA regime in federal tertiary institutions, state owned tertiary institutions who are yet to adopt the TSA should be made to comply in order to prevent fraud in state owned tertiary institutions.