FG Calls for Transparency, Accountability from Accountants General
By Patience Ikpeme
The Federal Government has noted the importance of transparency, accountability, and credibility in public finance management. This call came during a capacity building training programme organized for Accountant Generals across the nation.
The workshop, which held on Wednesday in Abuja, carried the theme “Contemporary Issues in Public Finance Management; a call for accountability, credibility and transparency in governance.” Dr. Oluwatoyin Madein, the Accountant General of the Federation (AGF), addressed the participants, highlighting the crucial role accountants play in safeguarding public funds.
Dr. Madein underscored the responsibility of accountants, stating, “They are entrusted with ensuring public funds are used efficiently, effectively, and for their intended purposes.” She emphasized that accountability strengthens citizen trust and bolsters the financial system’s credibility.
“We are obligated to establish robust mechanisms for planning, reporting, and updating public fund utilization,” Dr. Madein said. “These mechanisms should meet stakeholder expectations and uphold our policies.”
The AGF stressed the importance of upholding the highest ethical standards in the accounting profession. She urged her colleagues to be guided by transparency and open communication with stakeholders.
Dr. Madein further emphasized transparency as the bedrock of good governance. “Transparency fosters openness, builds trust, and deters corruption,” she explained. She called for ensuring financial information is accessible, understandable, and delivered promptly. Engagement with civil society and other bodies was highlighted as essential for providing a clear picture of public resource allocation.
The workshop also addressed the need for innovation in public finance management. Dr. Madein encouraged the adoption of new technologies, including integrated financial management systems and data analysis tools, to enhance efficiency and effectiveness. Cultivating a culture of continuous improvement and learning within accounting offices was identified as a critical factor in achieving excellence.
Dr. Madein acknowledged the challenges faced by accountants, including economic volatility, fiscal pressures, and heightened public scrutiny. However, she reframed these challenges as opportunities to showcase resilience and adaptability. “We can turn these challenges into opportunities by embracing global trends and best practices while staying informed,” she said.
The Chairman of the Forum of Accountants General, Umar B. Ahmed, also spoke at the event. He underscored the critical role accountants play in shaping Nigeria’s economic landscape.
“As stewards of public funds,” Mr. Ahmed said, “we are responsible for ensuring financial resources are managed efficiently, ethically, and in the best interest of our citizens.”
He echoed the call for high standards of accountability, credibility, and transparency. Mr. Ahmed emphasized the importance of technology and modern practices in improving financial reporting and tracking. He encouraged active participation in the training program to enhance skills and exchange knowledge. “We are stronger together,” he concluded, urging accountants to share best practices and forge partnerships to drive positive change.
The capacity building programme serves as a platform to discuss and strategize on contemporary issues in public finance management, ultimately strengthening public financial management practices in Nigeria.
