Full Project-THE EFFECT OF ACCOUNTABILITY AND TRANSPARENCY ON THE PERFORMANCE OF THE PUBLIC SECTOR ORGANIZATION

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THE EFFECT OF ACCOUNTABILITY AND TRANSPARENCY ON THE PERFORMANCE OF THE PUBLIC SECTOR ORGANIZATION

ABSTRACT

In this research work titled effect of accountability and transparency on the performance of the public sector organizations with particular reference to central bank of Nigeria (CBN) Enugu branch. The researcher examined the influence of accountability and transparency on the performance of Nigerian public sector. Examined the effect of accountability and transparency on the development of Nigeria. Examined the effect accountability and transparency on the total revenue in the country. Data for the study were sourced from two main sources which include Primary and Secondary sources of data Collection. Primary data: questionnaires and oral interviews were used to collect information from the respondents. Secondary data: journals, and other relevant materials relating to the area of my investigation will be review. Extensive literature review was carried out on the direct literature and indirect literature on books, journals and past works. The research instrument used in this study includes oral interview and questionnaire. The questionnaire is structural as to contain both close and open ended question. Simple tables and percentages were used in treatment of data. The hypothesized statements were tested using the Pearson correlation method of statistical analysis. At the end the researcher found out that Accountability and transparency has significant effect on the performance of Nigerian public sector. It was also observed that accountability and transparency influences the revenue generation in Nigerian public service. The researcher equally discovered that accountability and transparency on the gross domestic product of Nigeria. Based on the findings the researcher recommends that government should consistently make economic reform that will be generally acceptable to the citizenry under democratic dispensation. This will ensure both economic growth and sustainable economic development in Nigeria. The reform being carried out should not be focused on one sector of the economy alone, but should be total and holistic and cut across the real sector of the economy so that there will be continue sustainable economic growth and development under democratic dispensation in Nigeria.

CHAPTER ONE

INTRODUCTION

1.1Background of the study

The present situation is that though, government has been introducing various measures in respect of this reform programme, most especially in banking consolidation, the issue of due process and financial accountability were also introduced in order to ensure transparency and accountability within the Nigeria economy has not been adequately visited.

Premchand (2010) observed that the capacity to achieve full accountability has been and continues to be inadequate, partly because of the design of accountability itself and partly because of the widening range of objectives and associated expectations attached to accountability. He further argues that if accountability is to be achieved in full including its constructive aspects, then it must be designed with care. The objective of accountability should go beyond the naming and sharing of officials, or the pursuit of sleaze, to a search for durable improvements in economic management, to reduce the incidence of institutional recidivism. The future of accountability consists in covering the macro aspects of economic and financial sustainability, as well as the micro aspects of service delivery. It should envisage a three-tier structure of accountability: that of official (both political and regular civil employees), that of intra- governmental relationships and that between government and their respective legislatures.

According to Sanusi (2004) in a workshop on “Transparency of Financial reporting in the financial services industry”. The banking industry plays a central role in mobilizing resources for the promotion of economic growth and development of any nation. This underscore the two need for effective regulation and supervision to ensure soundness and stability. The rendition of accurate and timely returns to the achievement of the goal.

In Nigeria, the Central Bank and other supervisory agencies are primarily responsible for the regulation and supervision of Banks and other financial institutions, the external auditors on their part are saddled with the role of reviewing the institution’s records and preparing the financial statement from where opinion is formed on the accuracy and creativeness of the financial statement.

1.2 Statement of the problem

The research work is to examine the effect of accountability and transparency on the performance of the public sector organizations with particular reference to central bank of Nigeria (CBN) Enugu branch. Public organizations has been faced with the problem of employments racketing, corruption in procurement, internal revenue collection, award of contracts to the wrong contractors, etc.

Salaries and allowances are paid to non-existing worker as if they are duly recruited staff of local government. Government goes on to pay this money without a due process to ascertain this transparent nature of transaction.

The main problem emanating from the above introduction and circumstances, which has necessitated the study is how the problems of ensuring that the various reform policies of government will cut across all the sector of the economy and the challenges arising from the implementation strategies.

Also there is problem of ensuring adequate form of accountability in both private and public sector of the economy most especially as various devices and strategies are being adopted by government official to circumvent effort of the government in ensuring adequate reform of the Nigeria economy.

1.3 Objective of the study

The aim of this research work is to examine the effect of accountability and transparency on the performance of the public sector organizations with particular reference to central bank of Nigeria (CBN) Enugu branch. The specific objectives of this project work includes the following;

1. To examine the influence of accountability and transparency on the performance of Nigerian public sector.
2. To examine the effect of

accountability and transparency on the development of Nigeria.

3. To examine the effect accountability and transparency on the total revenue in the country.

1.4 Research Questions

Based on the objectives above, the researcher asked the following question;

1. What are the influences of accountability and transparency on the performance of Nigerian public sector?
2. What are the effects accountability and transparency on the development of Nigeria?
3. To what extent does accountability and transparency affect the public sector organisation?

1.5 Research Hypotheses

The following hypotheses were formulated and tested in the course of this study:

H01: Accountability and transparency have no significant effect on the performance of public sector organizations in Nigeria.

H02: Accountability and transparency have no significant effect on the development of Nigeria.

H03: Accountability and transparency have no significant effect on revenue generation in Nigerian public sector organizations.

1.6 Significance of the Study

The importance of accountability and transparency in enhancing the performance of public sector organizations cannot be overemphasized. Public sector institutions are established to provide essential services, manage public resources, and promote national development. However, poor accountability practices, corruption, weak financial controls, and lack of transparency have continued to undermine effective service delivery and institutional performance in Nigeria. This study is therefore significant because it examines how accountability and transparency influence the effectiveness of public sector organizations, using the Central Bank of Nigeria (CBN), Enugu Branch as a case study.

The study will be beneficial to the government and policymakers because it will provide useful information on the importance of strengthening accountability mechanisms and transparency practices in public institutions. Findings from the study may assist government agencies in developing policies that promote responsible management of public resources, reduce corruption, and improve public confidence in government institutions.

The study will also be valuable to the management of the Central Bank of Nigeria (CBN) and other financial regulatory institutions. The findings will highlight areas where accountability systems, reporting structures, internal controls, and transparency measures can be improved to enhance organizational performance. Since the CBN plays a strategic role in regulating Nigeria’s financial system, maintaining monetary stability, and supervising financial institutions, effective accountability practices are essential for achieving these responsibilities.

Furthermore, the study will benefit public sector employees and administrators by creating awareness of the importance of ethical conduct, responsible decision-making, and compliance with institutional regulations. Employees who operate within transparent and accountable systems are more likely to demonstrate commitment, efficiency, and professionalism in carrying out organizational responsibilities.

The study will also contribute to academic knowledge by providing additional literature on accountability, transparency, governance, and public sector performance in Nigeria. Researchers, students, and scholars interested in public administration, accounting, governance, and organizational management may find the study useful as a reference material for further studies.

Finally, the study will benefit the general public because improved accountability and transparency in public institutions can lead to better utilization of government resources, improved service delivery, and increased public trust in government organizations.

1.7 Scope of the Study

The study focuses on examining the effect of accountability and transparency on the performance of public sector organizations in Nigeria, with particular reference to the Central Bank of Nigeria (CBN), Enugu Branch.

The study covers the relationship between accountability practices, transparency mechanisms, and organizational performance within the public sector. Specifically, it examines how accountability influences employee performance, operational effectiveness, financial management, and institutional efficiency. It also investigates how transparency practices such as openness in decision-making, accurate financial reporting, compliance with regulations, and effective communication affect the performance of public organizations.

The geographical scope of the study is limited to the Central Bank of Nigeria (CBN), Enugu Branch, located in Enugu State, Nigeria. The choice of CBN Enugu Branch is based on its importance as a public financial institution responsible for implementing monetary policies, regulating banking activities, and promoting financial stability within the economy.

The study population consists of selected staff members of the Central Bank of Nigeria, Enugu Branch, including management staff, administrative officers, finance-related personnel, and other employees whose responsibilities relate to accountability and transparency practices.

The study focuses on the period covering recent operational activities of the organization, particularly issues relating to financial accountability, institutional transparency, regulatory compliance, and public sector performance.

1.8 Limitations of the Study

Like every research work, this study encountered certain limitations that may affect the research process. One major limitation was the difficulty in obtaining adequate information from respondents due to the sensitive nature of issues relating to accountability, financial management, and transparency within public institutions. Some respondents were cautious in providing information because they considered some organizational practices confidential.

Another limitation was the availability of financial and administrative records required for detailed analysis. Public sector organizations often have restrictions on accessing internal documents, which may limit the amount of secondary data available to the researcher.

Time constraints also constituted a limitation to the study. The researcher had limited time to distribute questionnaires, collect responses, analyze data, and complete the research work.

Financial constraints equally affected the research process, especially in areas such as transportation, printing of questionnaires, and collection of relevant materials.

Despite these limitations, efforts were made to ensure that reliable data were collected and analyzed objectively. The researcher ensured that information obtained from respondents was treated with confidentiality and used strictly for academic purposes.

1.9 Definition of Terms

Accountability

Accountability refers to the obligation of individuals, organizations, or public officials to explain, justify, and accept responsibility for their actions, decisions, and use of resources. In the context of this study, accountability refers to the mechanisms through which the Central Bank of Nigeria ensures responsible management of public resources and compliance with institutional regulations.

Transparency

Transparency refers to the openness, accessibility, and clarity of information relating to organizational activities, decisions, and financial operations. It involves providing accurate and timely information to stakeholders to promote trust and effective monitoring.

Public Sector Organization

A public sector organization refers to an institution established and controlled by government to provide services, implement policies, and manage public resources for societal development. In this study, the Central Bank of Nigeria represents the public sector organization under investigation.

Organizational Performance

Organizational performance refers to the extent to which an organization achieves its goals and objectives through efficient utilization of resources. It includes effectiveness, productivity, service delivery, employee efficiency, and achievement of institutional targets.

Public Financial Management

Public financial management refers to the processes involved in planning, controlling, monitoring, and reporting the use of government financial resources to ensure efficiency, accountability, and transparency.

Good Governance

Good governance refers to the process of managing public affairs through principles such as accountability, transparency, participation, rule of law, and effectiveness.

Central Bank of Nigeria (CBN)

The Central Bank of Nigeria is Nigeria’s apex financial institution responsible for monetary policy formulation, regulation of financial institutions, maintenance of price stability, and promotion of a sound financial system. The Enugu Branch serves as one of its operational branches responsible for implementing the policies and activities of the institution within its jurisdiction.

1.10 Organization of the Study

This research work is organized into five chapters.

Chapter One presents the introduction of the study, including the background of the study, statement of the problem, objectives, research questions, hypotheses, significance, scope, limitations, and definition of terms.

Chapter Two reviews relevant literature related to accountability, transparency, public sector performance, and previous empirical studies. It also discusses the theoretical framework guiding the study.

Chapter Three presents the research methodology adopted for the study, including research design, population, sample size, sampling techniques, data collection instruments, validity and reliability of instruments, and methods of data analysis.

Chapter Four presents the analysis and interpretation of data collected from respondents. It includes the testing of hypotheses and discussion of findings.

Chapter Five provides the summary of findings, conclusion, and recommendations based on the results of the study.

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