This study empirically examined the impact of Treasury Single Account (TSA) on revenue generated and its utilization in the federal government-owned universities. University of Ilorin was used for the study. The objectives of the study was to find out the level of fund accumulation and utilization at the University of Ilorin before TSA implementation, and find out the level of fund accumulation and utilization at the University after TSA implementation. Two null hypotheses were formulated for the study. Secondary data was utilized for the study. Total fund and its utilization at the University of Ilorin for the period 2012 – 2017 were collected from the Unilorin Annual Reports. The data collected was divided into two, i.e. pre and post TSA period, that is 2012 to 2014 and 2015 to 2017, respectively. A pre-post analysis was carried out using SPSS version 20. Findings show that TSA implementation has improved revenue generation at the University of Ilorin. Further findings revealed that University's revenue utilization improved after TSA implementation from N6, 691,451,094.41 billion to N8, 928,707,239.14 billion. Since, the P-value of both hypotheses is less than the significance level (0.05), the two null hypotheses could not be accepted. It was recommended that government at all levels should prioritize universities education funding. In addition, Universities must find a way to increase their internally generated funding levels and finally, Nigerian Universities should take advantages of TSA policy to enhance their development by key into every aspect of the policy drive.