PEDAGOGY AND IMPACT OF GIFMIS ADOPTION AS A TOOL FOR PUBLIC FINANCE MANAGEMENT

Olurankinse Felix, Oloruntoba Sunday Rufus

Abstract


One major problem affecting economic growth of Nigeria is the poor management of the Nations Financial Resources. This arose from corruption, mismanagement and ill-allocation of government financial resources. The need to promote public accountability, transparency, cost effective public service delivery, judicious allocation of government scarce financial resources and economic growth gave impetuous for the introduction of Government integrated financial and management information system (GIFMIS). The study shall examine the effect of GIFMIS on government financial transactions in relation to public funds management and how it has significantly influence government policy. The paper adopts a survey design and primary data which were obtained with the use of well structured administered questionnaires. The data obtained were analyzed using an Analysis of variance (ANOVA). The findings reveal that with the use of GIFMIS, there has been an appreciable reduction in corruption, financial irregularities and leakages with the attendant improvement in transparency and accountability in the management of government funds. Also, the use of GIFMIS has led to effective implementation of government policy. The paper recommends the adoption of GIFMIS at all levels of government to form part of financial management reforms practices to enhance transparency, accountability and judicious use of government financial resources.


Keywords


Accountability; Economic growth; GIFMIS; Government policy; Public funds; Transparency

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DOI: http://dx.doi.org/10.3968/10090

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