Effect Of Treasury Single Account On Economic Growth Of Nigeria (2012-2016).

ABSTRACT

This study focused on investigating the effect of Treasury Single Account on the economic growth of Nigeria from the period of 2012-2016. Specifically, it examined the effect of Treasury Single Account on Gross Domestic Product of Nigeria; the effect of Treasury Single Account on the Gross National Product of Nigeria; effects of Treasury Single Account on GDP per capita and the effects of Treasury Single Account on GNP per capita. The study applied ex post facto research design. Treasury Single Account proxied by deposit to Central Bank, credit from Central bank and money supply, and Economic Growth proxied by GDP, GNP, GDP per capital and GNP per capital, were the variables studied in this work. Secondary data were sourced from CBN Statistical bulletin, internet and journals for the analysis of the study. Generalized Least square multiple regression analytical tool was used to test the Hypotheses. The findings showed that, treasury single account had positive significant effect on economic growth of Nigeria. The results of this study showed that economic growth is positively affected by treasury single account (proxied by deposit to Central Bank, credit from Central bank and money supply). The study also revealed that there is a very high relationship between treasury single account and economic growth. The researcher therefore recommended the establishment of an enhanced financial system to ensure a strict observance of financial action task force. Also, there should be a need for greater harmonization of fiscal and monetary policies.