EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIA
Public financial management has been characterized by budget mismanagement, and misappropriation of public funds. Governments are rapidly adopting technology-driven solutions to increase accountability, efficiency, and transparency as a result of the global trend in public sector management toward...
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| Format: | Article |
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Association of Social and Educational Innovation
2024-12-01
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| Series: | International Journal of Social and Educational Innovation |
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| Online Access: | https://journals.aseiacademic.org/index.php/ijsei/article/view/405 |
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| author | Abdulrahman KADIR Mubaraq SANNI Ahmed ADEKUNLE |
| author_facet | Abdulrahman KADIR Mubaraq SANNI Ahmed ADEKUNLE |
| author_sort | Abdulrahman KADIR |
| collection | DOAJ |
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Public financial management has been characterized by budget mismanagement, and misappropriation of public funds. Governments are rapidly adopting technology-driven solutions to increase accountability, efficiency, and transparency as a result of the global trend in public sector management toward digitalization. The ongoing public financial management reforms in Nigeria, which seek to update the accounting systems of Ministries, Departments, and Agencies (MDAs), have made digital accounting practices a key component. Sequel to this issue, this study investigated digitalized inventory, asset management and budget practices on financial accountability among ministries, departments, and agencies (MDAs) in Nigeria. Data are collected through survey; the study's population comprises 588 eligible auditors from various ranks within the Offices of the Auditor-General for the Federation (AoGF) while the sample of the study is 233 staffs of Auditor-General for the Federation (AoGF) using Krejcie and Morgan (1970). Given the analysis from the results, the study concludes that digitalized inventory management is negative and statistically significant; leading to the conclusion that digitalized inventory management has no significant effect on accountability in ministries, departments, and agencies in Nigeria, which aligns with the study’s expectation. On the other hand, digitalized asset management and digitalized budgetary practices have significant positive and statistically significant; leading to the conclusion that digitalized asset management and digitalized budgetary practices have significant effect on accountability in ministries, departments, and agencies in Nigeria. Thus, this study recommends that digitalized financial management enhances accountability of MDAs, the study recommends that Ministry of Finance, Budget and National Planning in Nigeria should continue to invest in the comprehensive implementation of current digitalized financial management systems (GIFMIS platform), with a particular focus on enhancing procurement, inventory, and asset management processes
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| format | Article |
| id | doaj-art-76942220bf254f01b60de783991cfc2b |
| institution | DOAJ |
| issn | 2393-0373 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Association of Social and Educational Innovation |
| record_format | Article |
| series | International Journal of Social and Educational Innovation |
| spelling | doaj-art-76942220bf254f01b60de783991cfc2b2025-08-20T02:50:32ZengAssociation of Social and Educational InnovationInternational Journal of Social and Educational Innovation2393-03732024-12-011122EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIAAbdulrahman KADIR0Mubaraq SANNI1Ahmed ADEKUNLE2Kwara State University, NigeriaKwara State University, NigeriaKwara State University, Nigeria Public financial management has been characterized by budget mismanagement, and misappropriation of public funds. Governments are rapidly adopting technology-driven solutions to increase accountability, efficiency, and transparency as a result of the global trend in public sector management toward digitalization. The ongoing public financial management reforms in Nigeria, which seek to update the accounting systems of Ministries, Departments, and Agencies (MDAs), have made digital accounting practices a key component. Sequel to this issue, this study investigated digitalized inventory, asset management and budget practices on financial accountability among ministries, departments, and agencies (MDAs) in Nigeria. Data are collected through survey; the study's population comprises 588 eligible auditors from various ranks within the Offices of the Auditor-General for the Federation (AoGF) while the sample of the study is 233 staffs of Auditor-General for the Federation (AoGF) using Krejcie and Morgan (1970). Given the analysis from the results, the study concludes that digitalized inventory management is negative and statistically significant; leading to the conclusion that digitalized inventory management has no significant effect on accountability in ministries, departments, and agencies in Nigeria, which aligns with the study’s expectation. On the other hand, digitalized asset management and digitalized budgetary practices have significant positive and statistically significant; leading to the conclusion that digitalized asset management and digitalized budgetary practices have significant effect on accountability in ministries, departments, and agencies in Nigeria. Thus, this study recommends that digitalized financial management enhances accountability of MDAs, the study recommends that Ministry of Finance, Budget and National Planning in Nigeria should continue to invest in the comprehensive implementation of current digitalized financial management systems (GIFMIS platform), with a particular focus on enhancing procurement, inventory, and asset management processes https://journals.aseiacademic.org/index.php/ijsei/article/view/405Digitalized Inventory ManagementDigitalized asset managementBudget Practices and Financial Accountability |
| spellingShingle | Abdulrahman KADIR Mubaraq SANNI Ahmed ADEKUNLE EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIA International Journal of Social and Educational Innovation Digitalized Inventory Management Digitalized asset management Budget Practices and Financial Accountability |
| title | EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIA |
| title_full | EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIA |
| title_fullStr | EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIA |
| title_full_unstemmed | EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIA |
| title_short | EFFECT OF DIGITALIZED FINANCIAL MANAGEMENT PRACTICES ON ACCOUNTABILITY OF MINISTRIES, DEPARTMENTS, AND AGENCIES (MDAS) IN NIGERIA |
| title_sort | effect of digitalized financial management practices on accountability of ministries departments and agencies mdas in nigeria |
| topic | Digitalized Inventory Management Digitalized asset management Budget Practices and Financial Accountability |
| url | https://journals.aseiacademic.org/index.php/ijsei/article/view/405 |
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