Analysis of the Reforms in Public Financial Institutions: a Study of Ministry of Finance, Sokoto State

This study attempts to analyse the reforms in public financial institutions with particular reference to Ministry of Finance, Sokoto State. In recent years, the Nigerian government has implemented various reforms aimed at improving public financial management, including the Adoption of International Public Sector Accounting Standards (IPSAS), the introduction of the Treasury Single Account (TSA), and the implementation of the Integrated Financial Management Information System (IFMIS). The study had a sample of 38 respondents from the 10 operational Departments/Units (Main Account, Incorporated, Salaries and Allied, Funds, Internal Control, Internal Audit, Sub-Treasury, Stores Control, Permanent Board and Debt Management). The study found out that, the adoption of International Public Sector Accounting Standards (IPSAS) has to some extent, improved the effectiveness of public financial management system in Sokoto State. Finding also indicates that the introduction of Treasury Single Account (TSA) has to some extent, improved the management of public funds in Sokoto State and equally, the results indicate that the implementation of Integrated Financial Management Information System (IFMIS) has to some extent, enhanced the levels of transparency and accountability of public financial management system in the State. The study recommends that the Ministry should put in place measures to improve transparency and accountability in public financial management and should collaborate with relevant stakeholders to enhance transparency and accountability in public financial management.