Adeosun tasks treasury managers on accountability, transparency
Seeks review of Finance Control Act
The Minister of Finance, Mrs. Kemi Adeosun, has implored treasury managers to ensure transparency and accountability in the management and control of the country’s public finance.
A statement signed by the Special Adviser on Media & Communications to the Minister of Finance, Oluyinka Akintunde, said Adeosun gave the advice at the second national treasury workshop in Tinapa, Cross River State, attended by Directors of Finance and Accounts in all federal and state governments’ Ministries, Departments and Agencies (MDAs), Heads of Finance and Directors of Internal Audit and other stakeholders in national public finance management.
The minister, represented by the Director of Special Projects in the Federal Ministry of Finance, Dr. Mohammed K. Dikwa, emphasised the need for a change in the mindset of treasury managers in order to reform the basic polity.She said: “The basic and fundamental approach to financial and economic reforms is to reform the basic polity. Reforms must be impacting and sustainable and should fit into the cultural ethos of Nigeria, among others.
“There is the need to evolve a culture which is value-based. It is expected that this workshop would draw from universal public values such as public trust, accountability, equity, transparency, ethical standard and selflessness.”
Besides, Adeosun called for a review of the Finance Control and Management Act of 1958, noting that the law was outdated and weak in instituting greater accountability and transparency in the conduct of government financial businesses.
She, therefore, tasked the nation’s treasury managers to critically examine the Finance Control and Management Act and other related financial issues with a view to addressing some of the inherent deficiencies in the provisions.
Meanwhile, the Accountant-General of the Federation, Alhaji Ahmed Idris, in his address at the workshop, urged public financial managers to come up with innovative ideas to address some of the challenges facing the treasury and economy.
“I will advise our public financial managers to see the current challenges facing the treasury and the economy as an opportunity to spur them to form a united front that will generate great ideas resulting in the provision of lasting solutions to the problems,” Idris said.
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