FG reviews financial management policies, promises transparency

Forum 7 months ago

FG reviews financial management policies, promises transparency

The Accountant General of the Federation, Dr Oluwatoyin Madein, has said that the financial management policies of the country are under review.

In a statement by the Director of Press for the Office of the Accountant General of the Federation, Bawa Mokwa. It was stated that Madein reaffirmed her commitment to upholding and promoting prudence, transparency, and accountability in government financial transactions.

The statement added, “the AGF said she will take requisite steps to permanently resolve observed and potential threats to the efficient and continuous implementation of all the financial management reforms initiative of the Federal Government.

“Madein explained that since assumption of office, she has undertaken an in-depth review of the financial reforms and will leverage on the outcome of the review to inject new ideas and strategies into the projects so that the gains so far recorded will be sustained.”

She was also quoted as saying, “Recently, the OAGF had meticulous engagements with IPPIS Service providers, I can assure you that there has been great improvement in the operations of the payment platform. The review of other financial management policies is underway. The objective is to give the necessary revitalization to these policies to make them function optimally.”

The Accountant General further said that her office will continue to publish the details of FAAC revenue distribution to the three tiers of government to keep Nigerians abreast with the revenue generation and distribution effort of the government and help them balance government performance with revenue inflows at all levels.

She added that the 2022 revenue distribution figures were ready for publication, and it will be followed by the publication of the details of the revenue distribution so far made in 2023.

Madein stressed the need for citizens to be updated on the management of public funds.

She added that her office will ensure prompt and continuous release of funds to the MDAs and the three tiers of government so that development efforts will not be hampered.