CONTROL MECHANISMS AND THE MANAGEMENT OF THE FUNDS OF LOCAL GOVERNMENTS IN NIGERIA: A CASE STUDY OF ANAMBRA STATE.

📄 Project Abstract

The role of the third-tier of government in societal development has become broader, deeper and even more sophisticated in the current dispensation. Thanks to the numerous reforms which have been visited on local government within the last few decades. In spite of this however, the performance of the third-tier so far in developing the society, more especially the grassroots has been quite unsatisfactory. It is in the light of this that this work dwelt on the control mechanisms and the management of the funds of Local Governments in Nigeria using Anambra State as its case study. Effective control mechanism is a pre-requisite for good financial accounting to be achieved in the local government system. Local government accounting aims at providing analysis of revenue and taxes realized and for this to be adequately taken care of, there is need for the establishment of an effective and efficient control mechanisms in the financial management of Local Government funds. In view of the situa...