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AGF pledges continued publication of FAAC revenue distribution



FAAC: FG, States, LGs share N617.5bn as revenues for March

The Accountant General of the Federation (AGF), Dr Oluwatoyin Madein, has reaffirmed  commitment to upholding and promoting prudence, transparency and accountability in government financial transactions.

Madein gave the assurance  in statement issued on Friday in Abuja by Bawa Mokwa, Director (Press), Office of the Accountant General of the Federation (OAGF).

She said that OAGF would take steps to permanently resolve observed and potential threats to efficient and continuous implementation of all the financial management reforms initiative of the Federal Government.

She said that she had undertaken in-depth review of the financial reforms and would leverage on the outcome of the review to inject new ideas and strategies for sustainability.

“Recently, the OAGF had meticulous engagements with Integrated Payroll and Personnel Information System (IPPIS) Service providers.

“I can assure you that there has been great improvement in the operations of the payment platform.

“Review of other financial management policies is underway. The objective is to give necessary revitalisation to these policies to make them to function optimally,” she said.

According to Madein, the OAGF will sustain the practice of publishing details of Federation Account Allocation Committee (FAAC) revenue distribution to the three tiers of government.

She said that the practice would keep Nigerians informed about  the revenue generation and distribution efforts of the Federal Government.

“It will also help Nigerians  to balance government performance with revenue inflows at all levels.

“Government can only thrive if the citizens are carried along in the management of public funds.

“Nigerians need to be aware of the inflows and expenditures.

“With this, they can compare revenue collected with the developments on ground to ascertain whether the government is performing or not,” she said.

Madein said that the 2022 revenue distribution figures were ready for publication, adding that publication of the details of revenue distribution so far in 2023 would also be made.

She expressed satisfaction at the level of interest shown by Nigerians in the revenue generation and distribution efforts of the government.

According to her, efforts are being made to ensure that  revenue distribution figures are published monthly.

She said that there had been a remarkable increase in government revenue, and expressed optimism that the trend would be sustained.

“The OAGF will ensure prompt and continuous release of funds to  MDAs and the three tiers of government so that development efforts will not be hampered.

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Kadiri Abdulrahman

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