AGF to bolster reforms in government’s financial management

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Oluwatoyin Madein, Accountant General of the Federation (AGF) has promised to chase reforms that uphold and promote prudence, transparency and accountability in government financial transactions.

The AGF specifically assured to 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 assumption of office, she has undertaken 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.

“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”, she explained in a statement sent out Friday morning in Abuja and signed by Bawa Mokwa, AGF Director of Press.

She said the OAGF will sustain the practice of publishing FAAC revenue distribution details to the three government tiers.

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

“A government can only thrive if the citizens are carried along in managing 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”, Madein added.

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

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

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

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

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