DOES THE TREASURY SINGLE ACCOUNT IMPROVE PUBLIC FINANCIAL MANAGEMENT? NIGERIA'S EVIDENCE AND IMPLICATIONS FOR DEVELOPING ECONOMIES

This study examines the benefits of TSA practices in developing economies, with particular emphasis on Nigeria. The study is motivated by persistent challenges in public financial management, including fragmented government accounts, revenue leakages, weak fiscal discipline, idle cash balances, and limited transparency in the management of public resources. A systematic qualitative literature review approach was adopted. Relevant evidence was drawn from peer-reviewed journal articles, government publications, policy documents, and reports from international financial institutions. The selected literature was then analyzed thematically. The review identified improved transparency and accountability, reduced revenue leakages and opportunities for corruption, improved government cash management, better budget execution, and strengthened fiscal discipline as the major benefits associated with TSA implementation. The evidence also indicates that TSA may indirectly contribute to broader development outcomes by improving the efficiency with which public resources are mobilized, monitored, and allocated. However, the reviewed evidence reveals mixed findings regarding the effects of TSA on revenue generation, financial stability, and economic growth. Therefore, the study concludes that TSA should not be treated as an isolated solution to public financial management challenges. Its effectiveness depends substantially on institutional compliance, implementation capacity, digital infrastructure, monitoring systems, and PFM reforms. The study recommends strengthening compliance mechanisms, investing in technological and human capacity, integrating TSA with broader budgeting and financial management systems, and conducting periodic evaluations of its implementation and outcomes.