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Funds distributed to three tiers of government would be published, financial management policies to be reviewed – AGF



Dr. Oluwatoyin Madein,
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With a view to promote the ideals of transparency, accountability and prudence in finance administration, the Accountant General of the Federation, AGF, Dr. Oluwatoyin Madein, said detail of funds distributed to the three tiers of government would be published.
She said financial transactions in government circles particularly, the Office of the Accountant General of the Federation, OAGF will publish the details of Federation Account Allocation Committee (FAAC) revenue distribution to the three tiers of government in demonstration of transparency which is also in line with the global world standard.

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She said the development will help balance the perception of Nigerians towards the revenue generated and funds distributed.
In a statement issued on Friday in Abuja by Bawa Mokwa, Director (Press), 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 of the Federal Government.

The AGF maintained that she has undertaken an in depth review of the financial reforms since her assumption of office, noting that she 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.

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“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.

“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 stated.

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.

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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 noted that there has been a remarkable increase in government revenue recently and expressed optimism that the trend will be sustained.

She assured MDAs and the three tiers of government of prompt release of funds.

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