SUCCESSES AND FAILURES OF PUBLIC SECTOR ACCOUNTABILITY IN NIGERIA FROM THE PERIOD OF 1991 - 2002

Thesis Overview

<p> </p><p><strong>1.1 &nbsp;BACKGROUND TO THE STUDY</strong></p><p>Every society is made up of individuals, who agree to come under one unit and to be governed as an entity for the society to function effectively, some individual must manage its affairs as it affects the society over all good, be it financial goal, social goal or political goal. Against this background of managing the affairs of the society funds must be raised and used to achieve some of the goal of the society. The funds must rest in the hands of the people’s representatives, to be administered in such a way that maximum social benefit to be achieved. To the extent of the funds contributed by the individuals and entrusted in the hands of representatives, services will be provides by the use of funds. Eventually then, these representatives will not only keep custody of the funds, they will account to the people who contributed to the funds. This is based however, on the existing of full democratic system of government.</p><p>Back here in Nigeria when the public sector accounting did not develop to any meaningful extent, until the coming of the British accounting for the public funds has been posing a lot of problem since the past 1991-2002 era. It is unfortunate that all efforts by the government to encourage public sector accounting did not achieve the desired outcome of providing adequate information regarding the use of the public funds. Proper accountability should demand that, the extent of financial performance of any government for the period ruled by the government.</p><p><strong>1.2 &nbsp; STATEMENT OF PROBLEMS</strong></p><p>The bone of the problem of the Nigerian public sector has been the improper accountability and management of the taxpayer’s money entrusted in the hands of their representatives. These representatives have rather to wealth amassment at the expenses of the taxpayers, when it was clear that little or no punishment was meted on them. They would rather be given titles as an encouragement for their fraudulent practices. Consequently, there is poor rate of development and very poor standard of living of the average taxpayer. The researcher is therefore interested in increasing the awareness of the need for their trustees as their representative to properly account for the taxpayers fund.</p><p><strong>1.3 &nbsp;OBJECTIVE OF THE STUDY</strong></p><p>The cardinal objectives of the research work are: –</p><p>i. To find out to what extent, the public funds have been prudently utilized to maximize his welfare in Nigeria for the period of 1991-2002.</p><p>ii. To ascertain the taxpayers attitude towards tax payment.</p><div>&nbsp;</div><p>iii. To create a general awareness on the part of the public funds to demand for an account from their representatives.</p> <br><p></p>