The Impact Of Effective Financial Management In The Performance Of Public Enterprises In Nigeria (A Case Study Of PHCN)

ABSTRACT

 The aim of this research project is to access The Impact of Effective Financial Management and in the Performance of Public Enterprises. PHCN here in Umuahia was used as a case study. Presentation and critical analysis of the different views and opinions of writers and authors was generally devoted review some existing literature on financial management, other information were gotten from primary and secondary data, through the distribution of questionnaire total population that was used is 40 and the sample gotten was 36 through the use of the formula, n=N/(1-I-N(e2)). In the hypothesis testing chi-square and simple percentage was used. From the findings it was found out that the use of financial management tools in the operation of public enterprises was positive or of great help and that those financial management tool have not been effectively used in the management of public enterprises. From the findings it was recommended that: Qualified financial managers should be employed to handle these tools effectively in the management of finances in the enterprises. Good incentives should be given to financial managers as a motivation to effectively apply or use these financial management tools. The financial performance of these enterprises cannot be assessed without the reports of these financial statement. Therefore these public enterprises should be required to submit their audited accounts regularly to the legislative or any other authority it may be accountable to, this will go a long way to ensure that these tools of financial management are effectively used.