Effect of Transformational Leadership on Financial Reforms Implementation and Accountability in Nigeria's Public Sector (2016-2023)

Abstract

This study assessed effect of transformational leadership on financial reforms and accountability in Nigeria's public sector (2016–2023). It adopted a descriptive survey. The target population included public sector employees and financial regulators across key Ministries, Departments, and Agencies (MDAs). A sample size of 371 was selected from a population of 5,200 using the Taro Yamane formula, with participants chosen through simple random sampling. Primary data were collected via structured questionnaires on leadership practices, reforms, and accountability. Inferential statistics (regression analysis) were used. Hypothesis one found that anti-corruption enforcement positively affects accountability (β = 0.387, p < 0.001). Hypothesis two revealed that audit effectiveness strengthens accountability (β = 0.261, p = 0.001), and hypothesis three indicated that financial reporting systems foster stakeholder trust (β = 0.298, p = 0.001). The study concludes that transformational leadership is crucial for financial reforms, with anti-corruption enforcement, audits, and reporting systems as key pillars of accountability. It recommends strengthening anti-corruption frameworks, equipping agencies like EFCC and ICPC with forensic tools, enforcing whistleblower protections.