PENULTIMATE week, President Muhammadu Buhari, as part of the Federal Government’s plan to enthrone greater transparency in government business, directed the Office of the Accountant General of the Federation (OAGF) to publish daily financial statements of Federal Government transactions. The directive was given in Abuja during the launching of a new Financial Transparency Policy/Open Treasury Portal designed to give Nigerians access to information on fiduciary matters, improve accountability and transparency in public financial management. Truth be told, President Buhari’s directive on daily disclosures is a step in the right direction. Under the new arrangement, the AGF must also publish Annual General Purpose Financial Statements, while all public sector entities are required to publish statements for their individual entities. Nigerians need information on public procurements, and the new directive will not avail much if these details are not known.

Source: Nigerian Tribune December 24, 2019 02:48 UTC