L-R The Chairman of the House Committee on Public Account, Bamidele Salam, the Accountant General of the Federation, Dr. Mrs Oluwatoyin Sakirat Madein, FCCA, FCA and the Vice Chairman of the House Committee on Public Account, Hon. Umaru Jeremiah, during the oversight visit to the OAGF recently.

Accountant General Pledges Economic Stability via Revenue Drive

On Jan 10, 2025

The Office of the Accountant General of the Federation (OAGF) has announced its commitment to addressing the nation’s revenue shortfall through the implementation of aggressive revenue generation initiatives. The OAGF emphasized its determination to bolster the economy by enhancing revenue collection strategies and ensuring efficient financial management.

This move resulted in the improved funding of the personnel Cost, Overhead and Capital in 2024.

The Accountant General of the Federation, Dr. Mrs Oluwatoyin Made stated this while playing host to the House of Representatives Committee on Public Account in her office in Abuja during their oversight visit to the Treasury House on Wednesday.

In a statement by OAGF Director of Press, Mr Bawa Mokwa, Madein revealed that since her assumption in May 2023, the FGN Consolidated Financial Statement has been prepared and audited up to 31st December 2019, in collaboration with the Auditor-General of the Federation, adding that “we have prepared and audited the 2020 and 2021 CFS while 2022 is ongoing.”

“It would have been completed but for problems we have regarding the reconciliation of the bank statement for the Consolidated Revenue Fund with the Central Bank of Nigeria,” Madein added.

The AGF revealed that OAGF has proposed some enhancements to GIFMIS and IPPIS that will be more robust with the support and cooperation of the National Assembly.

In his response, the House Committee Chairman on Public Accounts, Hon. Bamidele Salam, urged the AGF to submit the 2022 Consolidated Financial Statement of the Federation as provided in the 1999 Constitution.

Salam stated that the submission of the Accountant General of the Federation on the low revenue remittance by many government-owned enterprises suggested that there was a need for stricter measures to block revenue leakages through the automation of processes and regular audits.