The Universal Basic Education Commission (UBEC) said it initiated a special training programme designed to strictly manage its funds by eliminating all financial leakages.
UBEC executive secretary, Dr Hamid Bobboyi, disclosed this yesterday in Port Harcourt while speaking during the five-day training programme for the South-South zone.
Bobboyi told employees of the State Universal Basic Education Board (SUBEB) that the commission would henceforth institutionalise judicious use of its resources.
He stated that the training became expedient for the 36 states and the Federal Capital Territory (FCT) following the commission’s discovery of various financial infractions during its financial monitoring exercises across the country.
Bobboyi, who was represented by the deputy executive secretary, services, Dr Isiaka Olayinka Kolawole, said the knowledge gathered from the training would help to minimize infractions, bridge the knowledge gap and capacity deficit.
He said the opportunity had provided a platform for critical stakeholders in the UBEC financial corridor to understand the importance and impact of financial management in delivering the mandate of UBEC.
The UBEC boss said: “Financial management is one of the most important success drivers in any organisation and any human endeavour.
“Members of staff need adequate knowledge of financial management, which involves strategic planning, organising, directing, and controlling of financial resources as well as the skills for applying the required management principles for the overall health of the organisation.
“You may wish to note that, the commission over the years organised various accountants and auditors on this same subject in order to institutionalise judicious use of resources allocated for UBE delivery.
“It was agreed by the UBEC Management and the SUBEB chairmen that the training should include more finance employees from the boards, hence the participation of seven participants from each of the 36 states and the FCT at this training,” he said.
In a communique issued by the commission after the training, UBEC vowed to strengthen its internal audit systems to ensure effective internal control mechanism.
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