EFFECT OF FINANCIAL CONTROL ON PERFORMANCE OF UNIVERSITIES IN BAYELSA STATE

Abstract

The aim of this study is to investigate the effect of financial control on performance of universities in Bayelsa State. To achieved this, hypotheses were formulated and a thorough review of theoretical and empirical literature was made. Public universities in Bayelsa State formed the population of the study with twenty-two (22) population elements, which include the Vice Chancellor, Deputy Vice Chancellors, Registrar, Bursar, Deputy Bursar, Budget officer, Librarian, Chief Accountants, Principal Accountants. The primary data used for the study were collected from respondents through the use of structured questionnaire developed in 5-point Likert scale. The data collected were analyzed using descriptive statistics (such as frequency, percentage, mean, and standard deviation) and inferential statistics specifically, multiple regression analysis, to test the hypotheses and determine the extent to which financial control variables predict university performance. This indicates that the model as a whole is not statistically significant. In other words, when internal control, administrative control, and internal audit are considered together, their combined effect on university performance is not strong enough to be deemed statistically significant. This finding implies that although the predictors show a positive relationship with
university performance, the joint contribution of the financial control dimensions does not significantly predict performance outcomes among the universities studied. It was therefore recommended that effective internal control measures should be strengthened within the university system. Management should ensure that all control activities are properly documented, regularly reviewed, and effectively implemented across all departments; administrative control systems should also be made more efficient and responsive. University management should adopt transparent administrative procedures that encourage prompt decision-making and discourage unnecessary bureaucratic delays; internal audit functions should be revitalized and made more independent. The audit department should be given the autonomy and authority required to operate objectively without interference from management. Adequate funding, manpower, and
resources should be provided to enable the internal audit units to carry out their duties effectively; and overall, universities should shift from a compliance-oriented financial control approach to a performance-driven one, where control mechanisms are linked directly to institutional goals and measurable outcomes. Strengthening financial control systems in this way will enhance efficiency, accountability, and sustainability, thereby improving the overall performance and reputation of universities in Bayelsa State.