Minister set to present Public Finance Management Bill to FEC
By THE Minister of Finance, Mrs Zainab Ahmed, on Wednesday, disclosed that arrangement had been concluded to present the proposed Public Finance Management Bill 2018 to the Federal Executive Council (FEC), for its approval before it would be finally presented to the National Assembly as Executive Bill.
Mrs Ahmed, who therefore, reminded the treasury managers that present administration would continue to pursue its objective of zero tolerance for corruption with vigor, stated this in Abuja while delivering her keynote address at the Service -Wide Capacity Building for Directors/Heads of Finance & Accounts and Directors/Heads of Internal Audit on the New Restructured Finance and Accounts Department.
She said the Federal Government was working hard towards the amendment of the Finance (Control and Management), Act 1958 to provide a legal framework for the institutionalisation of the reforms.
The minister said the restructuring was very timely and in tandem with the public finance management reforms of the government that would enhance transparency and accountability in the discharge of government finances.
In his opening remarks, the Accountant-General of the Federation, Alhaji Ahmed Idris said the vision behind the restructured finance and account department was to ensure standardisation and uniformity of the budget and accounting functions to enhance accountability and transparency in public finance management in the Federal public service.
He assured that his office would continue to provide the enabling environment for more ideas to transform the treasury in line with the global best practices.
“It is in the direction that we are currently reviewing the financial regulations, that was last revised in 2009 to be in tandem with the provisions of the public finance management reforms.
“We have also set-up a technical committee on the development of guidelines on Identification and Valuation of Legal Assets acquired prior to the commencement of IPSAS Accrual Basis of Accounting for presentation on the general purpose financial statements,” He stated.
In her goodwill message delivered by Mrs Didi Wackson, the Permanent Secretary, Service Welfare, the Head of Civil Service of the Federation, Mrs Winifred Oyo-Ita, said the present administration was committed to enhancing the welfare of civil servants as evident in the approval by government for the review of salary of civil servants as one of the eight priorities of the federal civil service strategy and implementation plan.
“We are committed to initiating reforms aimed at ensuring that the federal civil service is efficient, productive, incorruptible and citizen-centred, and in line with the present administration’s Change Agenda towards the attainment of the noble objectives of the Federal Government’s Economic Recovery and Growth Plan (ERGP),” He assured.
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