Background of the Study
Financial transparency is a cornerstone of good governance, ensuring accountability, efficiency, and trust in government operations. In Nigeria, the Ministry of Finance plays a pivotal role in managing the nation’s financial resources, making its level of transparency critical to achieving sustainable development. Financial transparency involves clear, accessible, and accurate financial reporting, budget disclosure, and the effective monitoring of public funds.
The Nigerian government has implemented several initiatives, such as the Treasury Single Account (TSA) and the Open Treasury Portal, to enhance transparency. However, challenges persist, including inadequate compliance with reporting standards, corruption, and weak enforcement mechanisms (IMF, 2024).
This study evaluates the effectiveness of financial transparency practices in the Ministry of Finance, Abuja, providing insights into the challenges and opportunities for improvement.
Statement of the Problem
Despite efforts to promote financial transparency, Nigeria continues to grapple with issues such as financial mismanagement, corruption, and lack of accountability. The Ministry of Finance, a key institution in the management of public funds, faces scrutiny over its financial reporting practices and compliance with international standards.
The limited empirical research on the financial transparency of government institutions, particularly the Ministry of Finance, hinders the development of effective policies. This study seeks to address this gap by assessing the ministry’s transparency practices and their impact on governance.
Objectives of the Study
Research Questions
Research Hypotheses
Scope and Limitations of the Study
The study focuses on the financial transparency practices of the Ministry of Finance, Abuja, from 2015 to 2025. Limitations include restricted access to confidential government data and the influence of political factors on transparency.
Definitions of Terms
Background of the Study
Government accounting plays a pivotal role in ensuring transparency and accountability in the manag...
ABSTRACT
The qualitative and quantitative phytochemical analyses of 50 timbers of Nigeria were carried out. The physicchemical properties...
ABSTRACT
The contribution of the Business Establishment to the economic development of any nation cannot be over emphasi...
ABSTRACT: The impact of artificial intelligence (AI) in vocational training for IT and cybersecurity careers is pivotal for preparing students...
Introduction
This chapter introduces the dissertation by describing its context, the identified challenges, how the chosen challenge was...
ABSTRACT: This research examined the impact of gender-neutral education i...
Background of the Study
The location of a business is one of the key determinants of its success, particularly in retail se...
Background of the Study
Sickle cell disease (SCD) is a genetic blood disorder that predominantly affects people of Afric...
ABSTRACT
Delegation of responsibilities is the organized process that permits the transfer of responsibilities and autho...
Background of the Study
Embezzlement, a form of financial fraud involving the misappropriation of public funds, is a per...