Bauchi: The Accountant General of the Federation (AGF), Mrs Oluwatoyin Madein, has advocated for the integration of transparency and accountability across all levels and facets of governance in Nigeria. This appeal was made during her address at the 2024 National Council on Finance and Economic Development (NACOFED) held in Bauchi.
According to News Agency of Nigeria, the call for transparency and accountability was detailed in a statement released by Mr Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF). Mrs Madein emphasized that these principles should not be limited to financial management alone but should encompass all resources, including human and material assets.
Mrs Madein highlighted that the scope of transparency extends beyond handling finances, affecting all areas like inventory management and operations, such as those managed by storekeepers and kitchen staff. She stressed the importance of being accountable for infrastructure an
d other resources, stating that proper accounting in a transparent manner is essential for all resources that can be used indiscriminately.
She cautioned that limiting transparency and accountability solely to financial matters would lead to an ineffective system. Madein proposed the establishment of stringent control measures surrounding government assets to ensure that public officials are responsible for assets acquired with public funds.
Moreover, Mrs Madein underscored the significance of ongoing capacity building and employee motivation, describing them as crucial to the effective management of public assets. She urged governmental bodies to practice fiscal discipline, implement appropriate control measures, and nurture a culture of savings and prudent investments.
She advised that when funds are allocated to enhance government assets, those assets must be meticulously accounted for by the individuals managing them. Furthermore, she advocated for saving during prosperous times to prepare for potentia
l adverse situations.
The 2024 NACOFED event, organized by the Bauchi State Government, took place before the Federation Accounts Allocation Committee (FAAC) meeting for November, during which N1.411 trillion was distributed among the Federal Government, states, and local councils.