This study intended to access the impact of financial accountability on the management of public sector finances in Nigeria. Lack of financial accountability on the management of public finances among three tiers of government in Nigeria has remained a critical issue for long and nowadays. As a result, poor culture of financial accountability has made corruption to become an endemic in the country. The level of accountability is very poor in Nigeria, and that all attributes of accessibility, comprehensiveness, relevance, quality, reliability and timely disclosure of economic, social and political information about government’s activities are completely non – available or partially available for the citizens to assess the performance of public office holders in government; as such, corruption and fraud malpractices become rampant in public service. Meanwhile, a sound financial accountability of a nation’s public sector is the most important and relevant to efficient and effective economic development. But the reverse is the case, whereby financial discipline seems not to have been maintained. The study adopted descriptive survey design for describing the state of things as it existed and expected achievement. The population of the study consist of 850 peoples drawn from six geo political zones which contained federal, state and private establishment, with age bracket from twenty five years and above. The source of data was primary and secondary sources. Data was analyzed using Chi – Square statistical tool, employed to test hypothesis, to see deviation of the actual observations from the expected. This led to the acceptance or rejections of the null hypothesis. Findings among others showed that the present financial accountability in Nigeria have not enhanced management of public sector finances, as such, have a negative turnaround. The study have finally concluded and made recommendations based on result found.