President @MBuhari has approved the Financial Transparency Policy, which mandates publication of Public Financial Information through an Open Treasury Portal, in line with @NigeriaGov’s determination to enthrone transparency and accountability in public financial management.
The Transparency Policy mandates the Acct. General of the Federation (AGF), and all @NigeriaGov Accounting Officers to publish daily reports of payments of least 10 Million Naira, while all MDAs must publish payments above 5 Million Naira—of all public funds under their purview.
The Policy also directs that all @NigeriaGov MDAs must publish:
—Monthly Budget Performance Reports, which must be ready within 7 days after the end of each month.
—Monthly Fiscal Accounts detailing Fiscal Performance of @NigeriaGov, within 14 days after the end of each month.
—Monthly Budget Performance Reports, which must be ready within 7 days after the end of each month.
—Monthly Fiscal Accounts detailing Fiscal Performance of @NigeriaGov, within 14 days after the end of each month.
The Policy also requires the Accountant General of the Federation (AGF) and all Accounting Officers of MDAs to publish Quarterly Financial Statements for @NigeriaGov as a whole and for individual MDAs respectively.
The Policy requires the AGF to publish Annual General Purpose Financial Statement, while all Public Sector Entities are required to publish for their individual entities.
These Statements must be prepared following International Public Sector Accounting Standards (IPSAS).
These Statements must be prepared following International Public Sector Accounting Standards (IPSAS).
