The federal government has urged Accountants General across the country to maintain the greatest levels of responsibility, trustworthiness, and transparency when handling public money.
This message was delivered on Wednesday in Abuja as part of the 2024 Capacity Building and Training Programme for Accountants General across Nigeria. The programme aimed to improve public finance management methods.
Oluwatoyin Madein, the Accountant General of the Federation (AGF), who delivered the charge, observed that accountants, as stewards of public resources, have a significant responsibility to ensuring funds are used efficiently, effectively, and for their intended purposes. She emphasised that accountability not only builds trust among citizens, but it also improves the legitimacy of the financial system.
“In order to satisfy our stakeholders’ expectations and uphold our policies, it is our responsibility to set up and maintain reliable processes that can plan, report, and update the usage of public monies,” the speaker said.
According to Dr. Madein, trust in the accounting profession is based on consistency, dependability, and ethical behaviour.
She advocated for activities guided by the highest professional standards, emphasising transparency and open communication with stakeholders.
According to her, maintaining a commitment to professional growth and following best practices in public financial management are essential for establishing trustworthiness.
Additionally, she stressed the value of transparency, describing it as the foundation of efficient government.
“Transparency encourages openness, builds trust, and discourages corruption.Dr. Madein urged accountants to make financial information accessible, understandable, and timely.
She underlined the necessity of collaborating with civil society and other organisations to create a transparent picture of how public funds are used.
Dr. Madein emphasised the need for innovation and advocated the use of new technology to improve skills. She suggested integrated financial management systems and data analytics as instruments for increasing efficiency and effectiveness.
She saw these problems as chances to display perseverance, adaptation, and leadership.
“By staying informed about global trends, adopting best practices, and collaborating with peers, we can turn these challenges into opportunities for growth and development,” she stated.
The retreat gave an opportunity to talk and strategize about current difficulties in public finance management.
Umar B. Ahmed, Sokoto State’s Accountant General and Chairman of the Forum of Accountants General, highlighted the retreat’s theme, “Contemporary Issues in Public Finance Management: A Call for Accountability, Credibility, and Transparency in Governance.”
He highlighted the vital role that accountants play in defining Nigeria’s financial landscape.
Ahmed stressed the importance of accountability, trustworthiness, and transparency. He advocated for the adoption of technology and current procedures to improve financial reporting and tracking.
He also emphasised the need of retaining integrity, following professional ethics, and avoiding conflicts of interest.
“Our decisions should be guided by policies, rules, and regulations in the pursuit of the common good,” Ahmed said.
Ahmed also emphasised the significance of capacity building and teamwork among accountants.
He encouraged active involvement in the training programme to improve skills and share knowledge. “We are stronger together,” he stated, asking accountants to share best practices and collaborate to effect positive change. The retreat seeks to provide accountants with the tools and information they need to effectively solve today’s difficulties in public finance management.
Bottom Line
The Nigerian government is calling for increased accountability and transparency from Accountants General across the country.
This emphasis on ethical financial management is a positive step towards ensuring public funds are used effectively and efficiently.
