Building public trust through transparency and accountability: The accountant’s perspective

Building public trust through transparency and accountability: The accountant’s perspective



Across much of the developing world, governance failures remain alarmingly persistent. Many nations struggle under the weight of systemic inefficiencies, economic mismanagement, and social unrest, all symptoms of bad governance. In Nigeria, these challenges are particularly visible: decaying infrastructure, inconsistent public service delivery, weak rule of law, insecurity, corruption, executive high-handedness, and a lack of financial discipline continue to undermine progress. At the core of these failures is a simple yet critical truth: citizens lose trust when those in authority fail to act with transparency and accountability. Without these pillars, democracy becomes performative, and public confidence erodes.

It is against this backdrop that the principles of good governance must be urgently foregrounded. Good governance, as widely recognised in international development literature, refers to how public institutions conduct affairs and manage resources for the benefit of the citizenry. It encompasses the ethical exercise of power, the equitable allocation of resources, and the consistent application of accountability standards. Conversely, bad governance emerges when leaders ignore citizens’ voices, evade responsibility for decisions, and allow personal or political interests to override public welfare.

The Nolan Committee of the United Kingdom, in its landmark 1995 report, identified seven principles that serve as a benchmark for ethical public life: selflessness, integrity, objectivity, accountability, openness, honesty, and leadership by example. While formulated in a UK context, these principles resonate globally. They provide a roadmap for any nation committed to restoring public trust and institutional credibility. Applied effectively, they are particularly relevant for Nigeria, where public frustration with perceived impunity and mismanagement is palpable.

From a practical standpoint, implementing these principles is not merely aspirational; it is transformative. When leaders act with integrity and transparency, the benefits ripple across society. Rural electrification becomes feasible, housing projects become sustainable, and electricity reaches both urban and rural communities. Markets are stocked with food, drinking water is reliably available, roads are maintained, and citizens can access healthcare and education without undue hardship. Governance systems that prioritise accountability ensure that public resources are managed efficiently, corruption is minimised, and financial sustainability is enhanced at all levels. In essence, transparency and accountability are not abstract ideals; they are the operational backbone of national development.

Yet, realising this vision requires more than lofty principles. Nigeria’s leadership must institutionalise accountability mechanisms and promote a culture of transparency. Annual audits, public disclosure of financial activities, participatory budgeting, and citizen oversight committees are practical measures that embed accountability into governance. Leaders must also embrace value-for-money audits focused on the three Es, economy, efficiency, and effectiveness, to ensure public funds deliver tangible benefits. Failure to implement such mechanisms leaves room for corruption, mismanagement, and the erosion of trust that stifles national progress.

Furthermore, good governance must be holistic, inclusive, and consistent across all tiers of government, from the local council to the federal level, and across the executive, legislature, and judiciary. Citizens must perceive that governance structures serve everyone, not only a privileged few. This perception is critical because public trust, once lost, is difficult to regain. When citizens see their leaders acting openly, taking responsibility for mistakes, and prioritising collective welfare over personal gain, social cohesion strengthens, and democracy is reinforced.

Good governance also requires foresight. Leaders must anticipate challenges, plan for long-term societal needs, and invest in systems that withstand political transitions. For example, planning for rural development, healthcare expansion, and infrastructural maintenance cannot be left to ad hoc initiatives; these require institutionalised commitment, clear policy frameworks, and sustained funding. Without these, even well-intentioned programmes risk collapse once political priorities shift.

As Nigeria approaches the end of 2025, the call for accountability and transparency has never been more urgent. Citizens are no longer passive observers; they demand active, ethical, and results-driven leadership. Implementing a governance model rooted in transparency and accountability is essential not only for restoring public trust but also for creating the conditions for sustainable national development. It is a clarion call for leaders to act decisively, ethically, and with foresight, turning principles into practice and promises into measurable outcomes.

In conclusion, good governance is both a moral and strategic imperative. Nigeria has the human resources, institutional frameworks, and societal awareness to embrace a governance culture grounded in accountability and transparency. What remains is the political will to act. Leaders must recognise that restoring public trust is not an optional exercise; it is a prerequisite for stability, prosperity, and long-term development. Only by embedding transparency and accountability into the very DNA of governance can Nigeria transform its democratic ideals into tangible progress for all citizens.

 

Dr. Kingsley Ndubueze Ayozie FCTI, FCA, is a Public Affairs Analyst and Chartered Accountant based in Lagos.



Source: Businessday

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