AGF pledges to publish FAAC Allocation
…Commits to public finance transparency
The Accountant General of the Federation, Dr. Oluwatoyin Madein, has reaffirmed her commitment to upholding and promoting the ideals of prudence, transparency and accountability in government financial transactions.
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In a statement issued in Abuja, yesterday, 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 by the Federal Government.
Dr. Madein explained that since assumption of office, she has undertaken in-depth review of the financial reforms and would leverage on the outcome of the review to inject new ideas and strategies into the projects to sustain the gains.
“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 statement by the Director of Press, Mr. Bawa Mokwa.
She said the OAGF would sustain the practice of publishing the details of FAAC revenue distribution to the three tiers of government.
Dr. Madein noted that publication of the revenue distribution would keep Nigerians abreast with the revenue generation and distribution efforts 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. Nigerian 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 said
The OAGF revealed that the 2022 revenue distribution figures were ready for publication, adding that this would 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 mechanism 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.
Dr. Madein said her office would ensure prompt and continuous release of funds to the MDAs and the three tiers of government so that development effort will not be hampered.
(Vanguard)
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