Nigerian govt directs Accountant-General, MDAs to publish daily financial statements

The Federal Government on Monday directed the Accountant General of the Federation to publish daily treasury summary statements of financial inflows and outflows.

Also, the AGF is to publish daily reports of all payments above N10 million to Ministries, Departments and Agencies (MDAs).

President Muhammadu Buhari gave the directives at the official launch of the Financial Transparency Policy and Implementation Guidelines by the administration.

The president who was represented by the Minister of State for Niger Delta, Tayo Alasoadura, said the daily treasury statements by the Office of the AGF will give the breakdown of all agencies responsible for each payment.

The directives are part of efforts to promote transparency and accountability in the management of public finance, the president’s representative said in Abuja.

He said daily payment reports will equally outline the MDAs, the beneficiary, purpose and amount of the payment, while MDAs must compulsorily publish payments above N5 million.

Besides, the OAGF and all MDAs are expected to, within seven days of the end of the month, publish monthly budget performance report, including their functions, and economic activities performed by them.

In addition, the OAGF was directed to also publish monthly fiscal accounts within 14 days of the end of the month showing the fiscal performance of the Federation in terms of revenue receipts from all collecting agencies and payments out of the Federation Account.

Again, the OAGF is expected to publish a quarterly consolidated unaudited financial statement of the Federal Government within a month of the end of the quarter, in addition to an annual general purpose financial report.

The audited financial statements for the federal government and all public sector entities are to be published within a month of the end of the first quarter of the following year.