Fiscal Policy | |
Fiscal Policy | |
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Tuesday, December 09, 2019 / 9:17 AM / Ottoabasi Abasiekong for Proshare WebTV / Header Image Credit: @FinMinNigeria
The Federal Government, in its effort at
deepening accountability in the public sector, recently launched the Financial
Transparency Policy & Portal in Abuja.
The Minister of Finance, Budget and
National Planning, Mrs. Zainab Ahmed, speaking at the event, said the
launch marked a turning point in the government's effort at promoting
accountability in public financial management.
According to the Minister, the new Policy
and Portal reporting standards are to meet the government's objectives of
greater transparency in public finance. Ahmed noted that the Portal would
contribute to the fight against corruption in line with the best global
practices and build confidence in the governance of public affairs.
President Muhammadu Buhari, represented by
the Minister of State, Niger Delta Affairs Ministry, Senator Tayo Alaosadura,
announced that the Financial Transparency Policy would go a long way in
improving the openness of government finance.
Speaking further, Senator Alaosodura said
the Transparency Policy mandates the Accountant General of the Federation
(AGF), and all Nigerian Government accounting officers to publish daily reports
of payments of at least N10m, while all Ministries, Departments and Agencies,
MDAs must report payments of above N5m under their organisations.
The policy also directs that all
government MDAs must publish;
The policy also requires the Accountant
General of the Federation and all Accounting officers to publish Quarterly
financial statements for the government as a whole and individual MDAs,
respectively.
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