AGF Recommits To Transparency, Accountability In Public Finance Management

The accountant-general of the federation, Oluwatoyin Madein has reaffirmed her commitment to upholding and promoting the ideals of prudence, transparency and accountability in government financial transactions.

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 reform initiatives of the federal government.

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

“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 revitalisation to these policies to make them function optimally,” she said in a statement that was issued by the director of press in her office, Bawa Mokwa.

She said her office will sustain the practice of publishing the details of Federal Account Allocation Committee (FAAC) revenue distribution to the three tiers of government.

She said publication of the revenue distribution will keep Nigerians abreast with the revenue generation and distribution effort of the Federal Government and also help them balance government performance with revenue inflows at all levels.

“A government can only thrive if the citizens are carried along in the management of public funds. Nigerians need to be aware of the inflows and expenditures. With this, they can compare revenue collected with the developments on grounds to ascertain whether the government is performing or not”, she opined.

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

She explained that the seeming delay in publishing the 2022 figures was due to a number of factors, including the overriding determination to institute appropriate and permanent mechanisms that will guarantee continuous publication of the revenue distribution.

The AGF who acknowledged and appreciated the high level of interest shown by Nigerians in the revenue generation and distribution effort of the Government, assured that effort is in top gear to ensure that the revenue distribution figures are published monthly.

On revenue generation, the AGF said of recent there has been a remarkable increase in government revenue and expressed optimism that the trend will be sustained.

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