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Nigeria determines to reform finance, increases transparency ~Finmin

By on June 16, 2020 0 144 Views

Nigeria said it was determined to carry out reforms that will promote national development and increase transparency in government finance.
Minister of finance, budget and planning, Zainab Ahmed, said this in Abuja while The inaugurating the Inter-ministerial Task Force for the full implementation of The Government Integrated Financial System Management Information System (GIFMIS) & other intelligence community.
She said the government can no longer ignore the concerns of Nigerian troops fighting against the insurgency in all parts of the country.
“Our Government is determined to carry out reforms that promote national development, we cannot ignore the genuine concerns of our gallant officers; thus the constitution of the #GIFMIS task force to look into concerns & proffer solutions,” Ahmed said.
She said GIFMIS will increase the ability to access information on government cash position and economic performance; improves medium term planning through the Medium Term Expenditure Framework; increases demonstration of accountability and transparency to the public and cooperating partners.
The finance minister said other objectives of GIFMIS include: increases the ability of of the Nigerian government to undertake central control and monitoring of expenditure and receipts in MDAs; access information on financial and operational performance; increase internal controls to prevent and detect potential and actual fraud.
“The reform is aimed at making Nigerian Public Service world-class, anchored on optimum service delivery to citizenry.”
“GIFMIS overall objective is to implement a computerized financial management system for the FGN that is efficient, effective & user friendly,” the minister said.
“GIFMIS is a multi-agency program; jointly developed by the offices of the OAGF, BOF, the Debt Management Office (DMO), the Central bank of Nigeria (CBN) and First Bank in consultation with other stakeholders as part of pillar 3 of the ‘National Strategy for Public Service Reform’.”

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