No Slacking On Aggressive Revenue Drive For FG – Madein Assures
BY COBHAM NSA — The Accountant General of the Federation (AGF), Dr (Mrs) Oluwatoyin Madein, says the aggressive revenue drives that improved funding for Personnel Costs, Overheads, and Capital expenditures in 2024 will not be abandoned going forward.
Mrs Madein also promised that the Accountant General of the Federation Office (OAGF) remains ready and committed to supporting the Federal Government’s resolve and efforts in addressing the revenue shortfall confronting the nation’s economy.
Accordingly, she said all necessary steps are being taken to achieve the goals of enhancing revenue accruals into the nation’s purse to execute the ‘Renewed Hope’ agenda of the present administration.
The AGF, who gave the assurance when members of the House of Representatives Committee on Public Account visited her office for an oversight function at the Treasury House in Abuja, disclosed that several measures are already in place to strengthen existing regulations, in addition to birthing new initiatives aimed at promoting greater accountability in public expenditure management.
Further informing the lawmakers that the Financial Regulations 2009 have been reviewed and currently awaiting the Federal Executive Council (FEC)’s approval to become operational, the AGF said since assuming office in May 2023, the FGN Consolidated Financial Statements (CFS) have been prepared and audited up to 31st December 2019.
She stated thus; “In collaboration with the Auditor-General of the Federation, we have prepared and audited 2020 2021 CFS while 2022 is ongoing”.
A statement by Bawa Mokwa, Director Press, OAGF however quoted her as explaining that the process “would have been completed but for problems we have regarding the reconciliation of Bank statement for the Consolidated Revenue Fund with the Central Bank of Nigeria”.
Additionally, Mrs Madein said the OAGF has proposed some enhancements to GIFMIS and IPPIS that will be more robust with the support and cooperation of the National Assembly.
GIFMIS is the acronym for Government Integrated Financial and Management Information System while IPPIS stands for Integrated Payroll and Personnel Information System.
In his remarks at the occasion, the House Committee Chairman on Public Accounts, Hon Bamidele Salam tasked the AGF to submit the 2022 Consolidated Financial Statement of the Federation as provided in the 1999 Constitution.
On the AGF’s submission regarding low revenue remittance by many Government-Owned Enterprises (GOEs), the lawmaker said the worrying situation demands that more stringent measures be evolved to block revenue leakages through automation of processes and regularity of the audit system.
