Impact of e-Payment Systems on the Management of Public Funds in Nigeria

Abstract

The study examines the impact of e-payment in management of public fund in Nigeria. E-payment system was articulated and designed as a means of fast tracking the implementation of government policies thereby eliminating the bottlenecks in payment system and reducing artificial interactions between government officers and contractors who perpetuate corrupt practices. This is with the view of achieving economic and efficient transactions in government finances and improves quality of reporting system in the Nigerian Public Sector. Though the e-payment system is fixed with challenges, like public accountability, lack of uniform platform being operated by the banks, lack of adequate infrastructures and issues of security, with the proper use of the e-Payment system, corruption which is a cancer in the public sector will be adequately addressed. The survey research design will be adopted and questionnaires will be administered randomly among selected practicing economists, public sector analysts, IT expert, financial analysts and seasoned academies’. Data obtained shall be analyzed using a five-point liker scale. Other hypothesis at 5% significant level will be tested while correlation and Pearson product moment will be used to measure the degree of relationship e-payment and effective fund management in public sector. This will enable the researcher to ascertain the impact of e-payment on fund management in Nigeria.