1.1 BACKGROUND TO THE STUDY
Treasury single account is a public accounting system under which all government revenue, receipt and income are collected into one single account, usually maintain by the country central bank and all payments done through this account as well. The purpose is primarily to ensure accountability of government revenue, enhance transparency and avoid misapplication of public funds. The maintenance of Treasury Single Account will help to ensure proper cash management by eliminating idle funds usually left with different commercial banks and in a way enhance reconciliation of revenue collection and payment (Adeolu, 2015).
Section 50 of the 1999 constitution as amended states “All revenues or other moneys raised or received by the federation (not being revenues, or other moneys payable under this constitution or any act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one consolidation Revenue fund of the federation”;successive government have continued to operate multiple accounts for the collection and spending of government revenue in flagrant disregard to the provision of the constitution which requires that all government revenues be remitted into a single account. It revenues be reminded into a single account. It was not until 2012 that government ran a pilot scheme for a single account using 217 ministers department and agencies as a test case