TREASURY SINGLE ACCOUNT AND FRAUD PREVENTION IN FEDERAL INLAND REVENUE SERVICE

Abstract

This paper examined Treasury Single Account (TSA) and fraud prevention in Nigerian Federal Inland Revenue Service (FIRS). The research employed a descriptive design approach by studying 102 senior staff of FIRS through descriptive tools (mean and standard deviation) to analyse the data collected from the senior staff of FIRS as the respondents with a decision rule of 2.5. It was hereby deduced from this study that TSA is more effective and prudent in Federal Inland Revenues Service than the conventional ways in which Federal Inland Revenues Service generates tax revenue into multiple bank accounts. The study also revealed that TSA has failed to close-up outflows and embrace transparent actions in the management of governing treasuries. The paper recommends, amongst others, that adequate political supports from all arms of government would strengthen the effectiveness of TSA in FIRS and also training and retraining of the Service’s personnel will enhance optimization of TSA.