June 12, 2024

Nigeria needs transparent Accountants-General, says AGF

Nigeria needs transparent Accountants-General, says AGF

Accountant General of the Federation, Mrs Oluwatoyin Sakirat

Emma Ujah,  Abuja Bureau Chief 

Nigerians need transparent Accountants-General in the management of public funds. 

The Accountant-General of the Federation (AGF), Dr. Oluwatoyin Madein, said this in Abuja, this afternoon, at the 2024 capacity building and training programme for Accountants-General in Nigeria.

She said the  theme: Contemporary Issues in Public Finance Management-A Call for Accountability, Credibility and Transparency in Governance, was critical in order to gain public confidence.

The AGF said, “This theme underscores the critical role that accountants play in shaping the financial landscape of our great nation. As stewards of public funds, we bear the responsibility of ensuring that financial resources are managed efficiently, ethically, and in the best interest of our citizens rules and regulations in the pursuit of the common good.

“Let us champion openness in financial processes, ensuring that information is accessible to all stakeholders. Transparent financial systems foster public confidence and promote economic stability.”

According to Dr. Madein, credibility in the accounting profession is built on consistency, reliability, and ethical behavior.

She said, “Building credibility requires continuous commitment to professional development and adherence to best practices in public finance management.  Transparency promotes openness, fosters trust, and deters corruption.”

 Dr. Madein urged accountants to ensure financial information was accessible, comprehensible, and timely. 

She encouraged the participants to adopt new technologies to enhance capabilities, saying that innovation was critical to modern financial management. 

The AGF said challenges such as economic volatility, fiscal pressure, and increasing public scrutiny were challenges that must be addressed. 

She viewed these challenges as opportunities to demonstrate resilience, adaptability, and leadership. 

Dr. Madein said, “By staying informed about global trends, adopting best practices, and collaborating with peers, we can turn these challenges into opportunities for growth and development.”

The Chairman of the Forum of Accountants-General, Mr. Umar Ahmed, who is the Accountant-General of Sokoto State said accountants play important role in shaping the financial landscape of the country.

He stressed the need for high standards of accountability, credibility, and transparency.

His words, “Our decisions should be guided by policies, rules, and regulations in the pursuit of the common good.”

 He urged constant capacity building participation in the training programme to enhance skills especially given the constant changing developments in financial technology.