Political stewardship accounting for good governance in Ekiti state, Nigeria

Anthony Adekunle Owojori¹*, Ishola Rufus Akintoye² and Felix Adidu³

¹Department of Educational Foundations and Management, Faculty of Education

University of Ado-Ekiti, Nigeria.

²Department of Accounting, Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Nigeria.

³Department of Business Administration, Delta State University, Abraka, Delta State Nigeria.

*Corresponding author. E-mail: adekunleowojori@yahoo.com.

Accepted 13 August, 2009.

   Abstract

This paper aimed at analyzing the importance of stewardship accounting in government ministries in Ekiti State and the causes of mismanagement in government-sector finance. The population comprised four thousand principal officers in the sixteen local governments of Ekiti State of Nigeria out of which four hundred were stratifiedly selected from each local government. The data were gathered through questionnaires while frequency counts, percentage scores and factor analysis were used to analyze the data.  The findings showed that stewardship accounting promotes good management of public funds, increases accountability and probity in the public sector and discourages embezzlement of public funds and promotes economics growth. It was therefore recommended that the government should make sure that stewardship accounting should be set up and strictly implemented for better reconstruction of good governance so as to guide against mal-administration of the public funds by public officers; and the ascertainment of proprietary of transactions and their conformity with established rules.

Key words: Politics, stewardship accounting, good governance.