The Accountant-General of the Federation (AGF), Dr. Oluwatoyin Madein, has reaffirmed her commitment to upholding and promoting the ideals of prudence, transparency, and accountability in government financial transactions.
The AGF, in a statement issued on Friday, September 15, 2023, said her office will sustain the practice of publishing the details of FAAC revenue distribution to the three tiers of government, noting that the 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.
Madein also promised to take requisite steps to resolve observed and potential threats to the efficient and continuous implementation of all the financial management reforms initiative of the Federal Government.
Madein stated that since assumption of office, she has undertaken in-depth review of the financial reforms, saying 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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She said: “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 stated 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 made in 2023.
The AGF further explained that the 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.
Speaking on revenue generation, Madein said there has been a remarkable increase in government revenue and expressed optimism that the trend will be sustained.
The AGF added 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.
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