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Business News of Monday, 10 August 2020

Source: tribuneonlineng.com

AGF sets up committee on open treasury portal

Accountant General of the Federation (AGF), Mr. Ahmed Idris Accountant General of the Federation (AGF), Mr. Ahmed Idris

Accountant-General of the Federation (AGF) Idris Ahmed, has inaugurated the Committee on Federal Government Financial Transparency Guidelines and Open Treasury Portal.

This was a sequel to a Federal Executive Council (FEC)’s approval of the memo presented to it by the Minister of Finance and National Planning for approval to establish the Financial Transparency Guidelines and Open Treasury Portal.

A statement from the AGF on Monday explained that at the inauguration on Thursday last week, the objectives of the Committee includes the improvement on good governance and enhance the public whistle-blower policy and equip the general public with the tools to report financial wrongdoing as well as provide the guidelines for MDAs for proper financial transparency.

“The approved Transparency Policy provides for Transparency requirements, thresholds and responsibilities as part of Government Policy on accountability in line with Freedom of Information Act 2014.

The HMFBNP, then constituted the composition of the Quality Assurance and Compliance Committee which membership was drawn from MDAs”, Ahmed said.

The committee will advise the minister of finance on the enforcement action including sanctions where appropriate to ensure full compliance with the transparency requirements.

It will also advise the minister on the improvement necessary in the implementation modalities, review transparency reports from different stakeholders and recommend appropriate actions and to prepare a summary brief for the HMFBNP regarding compliance with the implementation requirements.

In conclusion, the AGF said that the Committee will be required to report to him on a monthly basis and also the Honourable Minister of Finance and National Planning through his Office.

THE Federal Government has in the last 20 years allocated the sum of N2.542 trillion to construction and rehabilitation of federal roads, Tribune Online findings at the Federal Ministry of Finance, Budget and National Planning, as well as the Federal Ministry of Works and Housing, have revealed. The allocation was made during the administrations of four former leaders of the country; General Abdulsalami Abubakar (1999), Chief Olusegun Obasanjo (1999-2007), Alhaji Umaru Yar’ Adua (2007-2010) and Dr. Goodluck Jonathan (2010-2015) and the current…