In this research work titled effect of accountability and transparency on the performance of the public sector organizations with particular reference to central bank of Nigeria (CBN) Enugu branch. The researcher examined the influence of accountability and transparency on the performance of Nigerian public sector. Examined the effect of accountability and transparency on the development of Nigeria. Examined the effect accountability and transparency on the total revenue in the country. Data for the study were sourced from two main sources which include Primary and Secondary sources of data Collection. Primary data: questionnaires and oral interviews were used to collect information from the respondents. Secondary data: journals, and other relevant materials relating to the area of my investigation will be review. Extensive literature review was carried out on the direct literature and indirect literature on books, journals and past works. The research instrument used in this study includes oral interview and questionnaire. The questionnaire is structural as to contain both close and open ended question. Simple tables and percentages were used in treatment of data. The hypothesized statements were tested using the Pearson correlation method of statistical analysis. At the end the researcher found out that Accountability and transparency has significant effect on the performance of Nigerian public sector. It was also observed that accountability and transparency influences the revenue generation in Nigerian public service. The researcher equally discovered that accountability and transparency on the gross domestic product of Nigeria. Based on the findings the researcher recommends that government should consistently make economic reform that will be generally acceptable to the citizenry under democratic dispensation. This will ensure both economic growth and sustainable economic development in Nigeria. The reform being carried out should not be focused on one sector of the economy alone, but should be total and holistic and cut across the real sector of the economy so that there will be continue sustainable economic growth and development under democratic dispensation in Nigeria.
1.1Background of the study
The present situation is that though, government has been introducing various measures in respect of this reform programme, most especially in banking consolidation, the issue of due process and financial accountability were also introduced in order to ensure transparency and accountability within the Nigeria economy has not been adequately visited.
Premchand (2010) observed that the capacity to achieve full accountability has been and continues to be inadequate, partly because of the design of accountability itself and partly because of the widening range of objectives and associated expectations attached to accountability. He further argues that if accountability is to be achieved in full including its constructive aspects, then it must be designed with care. The objective of accountability should go beyond the naming and sharing of officials, or the pursuit of sleaze, to a search for durable improvements in economic management, to reduce the incidence of institutional recidivism. The future of accountability consists in covering the macro aspects of economic and financial sustainability, as well as the micro aspects of service delivery. It should envisage a three-tier structure of accountability: that of official (both political and regular civil employees), that of intra- governmental relationships and that between government and their respective legislatures.
According to Sanusi (2004) in a workshop on “Transparency of Financial reporting in the financial services industry”. The banking industry plays a central role in mobilizing resources for the promotion of economic growth and development of any nation. This underscore the two need for effective regulation and supervision to ensure soundness and stability. The rendition of accurate and timely returns to the achievement of the goal.
In Nigeria, the Central Bank and other supervisory agencies are primarily responsible for the regulation and supervision of Banks and other financial institutions, the external auditors on their part are saddled with the role of reviewing the institution’s records and preparing the financial statement from where opinion is formed on the accuracy and creativeness of the financial statement.
1.2 Statement of the problem
The research work is to examine the effect of accountability and transparency on the performance of the public sector organizations with particular reference to central bank of Nigeria (CBN) Enugu branch. Public organizations has been faced with the problem of employments racketing, corruption in procurement, internal revenue collection, award of contracts to the wrong contractors, etc.
Salaries and allowances are paid to non-existing worker as if they are duly recruited staff of local government. Government goes on to pay this money without a due process to ascertain this transparent nature of transaction.
The main problem emanating from the above introduction and circumstances, which has necessitated the study is how the problems of ensuring that the various reform policies of government will cut across all the sector of the economy and the challenges arising from the implementation strategies.
Also there is problem of ensuring adequate form of accountability in both private and public sector of the economy most especially as various devices and strategies are being adopted by government official to circumvent effort of the government in ensuring adequate reform of the Nigeria economy.
1.3 Objective of the study
The aim of this research work is to examine the effect of accountability and transparency on the performance of the public sector organizations with particular reference to central bank of Nigeria (CBN) Enugu branch. The specific objectives of this project work includes the following;
1. To examine the influence of accountability and transparency on the performance of Nigerian public sector.
2. To examine the effect of
accountability and transparency on the development of Nigeria.
3. To examine the effect accountability and transparency on the total revenue in the country.
1.4 Research Questions
Based on the objectives above, the researcher asked the following question;
1. What are the influences of accountability and transparency on the performance of Nigerian public sector?
2. What are the effects accountability and transparency on the development of Nigeria?
3. To what extent does accountability and transparency affect the public sector organisation?