FG unveils central revenue system to enhance transparency, accountability

The federal government is set for the implementation of Revenue Assurance and Central Disbursement Solutions for Ministries, Departments and Agencies (MDAs) as well as FG-owned enterprises.

This is in pursuance of its avowed determination to ensure enhanced financial transparency, accountability, and prudent revenue management.

Already, the FG has conveyed a stakeholder engagement meeting in Abuja, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on the implementation of the project.

The deployment of a central revenue system is designed to enhance financial transparency and accountability concerning direct payments to beneficiaries and the direct deduction of what is due to the Federal Government.

Mohammed Manga, Director of Information and Public Relations, said once implemented, the Government Integrated Financial Management Information System (GIFMIS) and non-GIFMIS platforms will monitor revenue generation and provide a consolidated dashboard of the revenue situation for all Federal Government-owned enterprises.

Key stakeholders, including the SA to the President on Energy, the SA to the President on ICT, the Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation (OAGF), and the Nigeria Inter-Bank Settlement System (NIBSS) participated in the meeting.

READ ALSO FROM NIGERIAN TRIBUNE 

• How corruption in maritime increases cost of food, bulk importation by 15% — Report

• Why we’re starting seven-day strike today— Oyo health workers

• NLC, TUC suspend protest over Police blockade at Rivers LG secretariats