Introduction In modern time, the educational enterprise in Nigeria had grown into a huge venture engaging more men, money and material resources of the nation than any other sector of the economy. This is why the issues and problems of education are probably more visible today than they had been. Both Government and the generality of the people now show greater commitment to education viewing it as the master-key to rapid socio-economic and political advancement. Between 16% and 22% of Government Budget goes to Education (Aghenta 1989) and between 25% and 45% of family income goes to Secondary Education (Durosaro 1997). Hence, there is an increasing social demand on educational managers to expand facilities; to provide more supportive services; to provide equal educational opportunities; to reorder priorities; to ensure greater productivity and new programmes; to respond to more individualized needs and to provide software necessary to upgrade business decisions in their own areas of responsibility. Unfortunately, in the face of this social pressure on education, the nations financial resources had shown a declining trend thus leading to a cut back in the nations expenditure on some social service sub-sectors like education. This situation calls for prudence and accountability in all facets of our national life including education. To ensure these, there had been the introduction of such economic concepts like -investment, returns, efficiency, effectiveness and accountability. Accountability could be viewed as the recording and reporting of the activities and events affecting personnel, facilities, material or money of an organization and its programmes. Education is the process of cognitive, affective and psychomotor development of a child. Owing to the shortfall in the funding of education by Government, parents are being called upon to give more financial assistance to schools than before. Thus, parents who in the past took for granted that the schools were doing the best they could, are now demanding that schools account for the failure of their children through the Parents/Teachers Association (PTA). On the part of Government, to ensure adequate accountability, some administrative machinery had been put in place to monitor operation in the schools.