AN ASSESSMENT OF TREASURY MANAGEMENT PROBLEMS AND REMEDIES IN LOCAL GOVERNMENTS BASED ON ITS REVENUE. BY:
NAME: ONIFADE AYOMIDE OLUWATOBA
MATRIC NO: 09/SMS02/015
BEING A RESEARCH PROJECT REPORT THAT IS TO BE SUBMITTED TO THE DEPARTMENT OF ACCOUNTING FACULTY OF AFE BABALOLA UNIVERSITY ADO-EKITI, EKITI STATE, NIGERIA.
IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF BARCHELOR OF SCIENCE (B.SC) HONS IN ACCOUNTING.
TABLE OF CONTENTS
Background of the study
Data Presentation and analysis
BACKGROUND OF THE STUDY
Local government in any nation like Nigeria is an entity through which government and its policies are carried to the grass root. The government body of such an entity is selected or otherwise locally selected. It constitutes an integral party of a country overall political structure. The creation of local government is made by the law of the state government with intention of bringing government to the people. It is clearly understand that even if the machinery of the state government stops franchising law and order will still prevail, if local council in Nigeria continues to exist. According to Okoli (1998) local government exist to fell the gasp which the national government is to remote to fell, it bring the national government closer to the people and make its impact feet in all the nooks and cronies of the society. By implication the national government through thus medium caters for the grassroots. Local government plays vital roles in the development of the country. It can also be maintained that should local government machinery ground to a half, there is bound to be chosen and confusion. They are the overall of authority and it is through them that the provision of all facilities and services aimed at giving the people higher standard of living and maintenance of law and order can be made. Accordingly attempts have been made at different stages of the country political life to modify the local administrative system and to make them perform their role and function. But in spite of these efforts, the local government authorities continue to exhibit evidences of poor performance. Thus had led to the federal government affairs and eventual entrenchment of the system in the country’s constitution. According to Gbenga (2001) local government can be defined as the process through which government and its policies are carried to the grassroots, and stressed that during the early stage of local government in Nigeria (Gowon) which lasted from 1967-1975 the different state operated different system of local government. In the Northern state, the emirs retained some of their powers and influence because the counselors appointed by the military Governors where traditionally and spiritually expected to defer to the authority of the emirs. The Eastern state and in the Midwest states abandoned the councilor system adopted the French system of decantation. In the west state Governor who had initially posted sole administration of local government areas where forced by the tax revolts of the late 1960s to reintroduce local government participation. Mustapha (2003)local government also become conduct pipe for cooting of national treasury for instance, elite cline of local government Chairman called the “Association of local government of Nigeria (ALGON) reportedly mandate the maximum military leader to deduct local government funds for the purchase of two Toyota land-cruiser jeeps for all LGA chairman, while the other belong to the police to facilitate effective policy and combat of armed robbery. Harriman (2006) local government is not creatures of state government, but one of the tiers of government of this country. Every effort should be made to allow local government councils to operate with...
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