Kehinde Damilola Ilesanmi

The sudden outbreak of the novel coronavirus (COVID-19) continues to pose a threat to human survival as nations around the world battle to survive in the face of this unwanted invisible enemy. Apart from its devastating effects on public health, the COVID-19 pandemic has crippled the economy of many developed and developing nations, including South Africa. The paper analyzed the costs of the COVID-19 pandemic on South African education and literacy, manufacturing, employment generation, and foreign direct investment, among others. This study employed discourse analysis to examine some of the socio-economic impacts of the COVID-19 pandemic in South Africa. Dubbed as a rainbow nation with one of the most advanced economy, South Africa is currently faced with the twin problem of being the epicenter of the COVID-19 pandemic in Africa and having to cater for millions of unemployed citizens who depend solely on social welfare services. The review revealed that South Africa has been mostly affected by the COVID-19 pandemic, and the effects on socio-economic activities in the country were more severe compared to other nations within the SADC region. The outbreak of the COVID-19 pandemic has revealed how susceptible the South African economy is in the face of emergencies, despite its enormous economic immensity. The government and policymakers must come up with viable economic recovery plans, and these plans must be sustainable to ensure that the country does not slump back into recession in the event of another pandemic. The government at all levels should design relief programs targeting those who might have lost their basic livelihoods, be they employment or businesses, due to the COVID-19 pandemic.

Despite concerted efforts made by successive government administrations in Nigeria to eliminate or better still minimize the menace of fraud, embezzlement, misappropriation of funds, inflation of contract prices, payment of salaries to ghost workers etc., it seems as if the challenge is far from being over. It is believed that the implementation of effective and efficient financial control systems may result in better performance, accountability, and better reporting process in the public sector. This study aims to assess the effectiveness of financial control in the public sector of Nigeria using Akoko South-West Local Government Area (ASWLGA) as a case study. The study employed both descriptive and econometric analytical methods to achieve the stated objectives. Specifically, the hypotheses were tested using regression analysis based on the primary data collected. The study revealed that the level of financial control in ASWLGA is adequate and capable of reducing financial misappropriation and that financial control is also cost-effective. However, there is a need for regular review of the financial control system in order to boost the effectiveness of the public sector.