IMPACT OF PUBLIC SECTOR REFORMS ON FINANCIAL ACCOUNTABILITY OF FEDERAL UNIVERSITIES IN THE NORTHCENTRAL NIGERIA

Abstract

Financial accountability is fundamental to promoting trust and transparency within public institutions. However, issues such as corruption and inefficiency continue to hinder these efforts. In response, various anti-graft initiatives and financial control reforms have been introduced, but the effectiveness of these reforms remains a key concern. This study evaluates the impact of public sector reforms on the financial accountability of federal universities in North-Central Nigeria. Using a survey research design, data were collected from bursary staff in eight federal universities within the region. The study employs Ordered Logistic Regression and Ordinary Least Squares (OLS) to assess the effectiveness of these reforms. The findings indicate significant positive effects of anti-graft legal frameworks and procurement laws on financial accountability respectively. However, the role of anti-graft agencies and financial reporting showed insignificant effects. The study concludes that anti-graft reforms, particularly legal frameworks and procurement laws, are crucial for ensuring financial accountability in Nigerian universities. Recommendations include strengthening collaboration between anti-graft agencies and university audit departments, mandating regular financial reviews, and instituting centralised procurement audits.