INTERNAL CONTROL SYSTEM IN TERTIARY INSTITUTIONS IN NIGERIA (A CASE STUDY OF FEDERAL UNIVERSITY LAFIA, NASARAWA STATE).

ABSTRACT This study explores the internal control system within tertiary institutions in Nigeria, focusing specifically on Federal University Lafia. The primary objective is to assess the effectiveness of the internal control mechanisms in place and how they influence financial accountability, operational efficiency, resource management, and overall institutional performance. To gather data, questionnaires were distributed to relevant staff members using purposive sampling techniques to ensure that responses were representative of the population. Data analysis was conducted using simple percentages, providing a clear understanding of the responses. The findings indicate a positive correlation between the implementation of robust internal control systems and improved financial accountability and resource utilization within the institution. Moreover, compliance with internal control policies and procedures was identified as a key factor contributing to the success of the institution’s operations. The study recommends periodic reviews of internal control systems, staff training on compliance, and stricter enforcement of accountability measures to further strengthen these mechanisms and enhance institutional performance. These insights are crucial for policymakers and university administrators looking to improve internal governance structures in Nigerian tertiary institutions.