Minister of Finance, Mrs. Kemi
Adeosun, has challenged Treasury
managers to ensure transparency and
accountability in the management and
control of the country’s public finance.
She gave the advice at the second
National Treasury Workshop held in
Tinapa, Cross River State.
The workshop was attended by
Directors of Finance and Accounts in
all Federal and State Governments’
Ministries, Departments and Agencies,
Heads of Finance and Directors of
Internal Audit and other stakeholders in
national public finance management.
The Minister, who was represented
by the Director of Special Projects in
the Federal Ministry of Finance, Dr.
Mohammed K. Dikwa, emphasized
the need for a change in the mindset of
Treasury managers in order to reform
the basic polity.
She said, “The basic and fundamental
approach to financial and economic
reforms is to reform the basic polity.
Reforms must be impacting and
sustainable and should fit into the
cultural ethos of Nigeria, among others.
“There is the need to evolve a culture
which is value-based. It is expected
that this workshop would draw
from universal public values such as
public trust, accountability, equity,
transparency, ethical standard and
LINKAGE Assurance Plc has appointed
Chief Joshua Benard Fumudoh as its
chairman. The appointment is, however,
subject to the approval of the National
Insurance Commission (NAICOM) and
shareholders’ ratification.
A statement by the company secretary,
Moses Omorogbe, in Lagos, stated
that the appointment takes effect from
January 31, 2018.
Fumudoh takes over from Chief Dr.
selflessness.”
Adeosun called for a review of the
Finance Control and Management
Act of 1958, noting that the law was
outdated and weak in instituting greater
accountability and transparency in
the conduct of government financial
businesses
The Finance Control and Management
Act provides detailed guidelines on
control and management of the public
finance of the country.
The Minister tasked the nation’s
Treasury managers to critically examine
the Finance Control and Management
Act and other related financial issues
with a view to addressing some of the
inherent deficiencies in the provisions.
On the Economic Recovery and
Growth Plan (ERGP), she explained
that it was conceived by the President
Muhammadu Buhari Administration
towards laying a solid foundation for
long-term economic growth.
She added that the emphasis of the
ERGP was on local content business
empowerment.
“The ERGP has been further designed
to build competitive market, invest in
infrastructure and human resources as
well as harmonize monetary, trade and
fiscal policies for the purposes of boosting
non-oil revenue, reduction in cost of
governance, privatization of selected
public enterprises/assets, delivery on
agriculture and transportation, among
others,” the Minister stated.
Adeosun recalled that the Federal
John Anderson Eseimokumoh, who
resigned to pursue other businesses after
a meritorious service as non-executive
director for over four years.
Fumudoh is expected to bring to
bear his wealth of experience on
Linkage Assurance Plc to make it more
competitive and increase shareholders’
value creation.
The statement read in part:
“Srengthening the board is in line with
the company’s vision for increased
capacity to deliver efficient services to
its customers and value creation for all
stakeholders.”
He is the founder and Managing
Government through the Federal
Ministry of Finance had embarked
upon a number of financial reforms
with a review to strengthening
governance, accountability, reduce
corruption and deliver service more
effectively.
She listed some of the initiatives
introduced by the Government
to include: full implementation
of the Treasury Single Account
(TSA), Presidential Initiative
on Continuous Audit (PICA),
Revenue Boosting Initiatives, Fiscal
Sustainability Plan, Voluntary Assets
and Income Declaration Scheme
(VAIDS), Whistleblower Policy,
Cash Management, Efficiency Unit,
Healthpay Project, Family Homes
Project, Asset Tracing Team, and Road
Trust Fund, among others.
Earlier in his address at the
workshop, the Accountant-General of
the Federation, Alhaji Ahmed Idris,
had urged public financial managers
to come up with innovative ideas to
address some of the challenges facing
the Treasury and economy.
Idris said, “I will advise our public
financial managers to see the current
challenges facing the treasury and the
economy as an opportunity to spur
them to form a united front that will
generate great ideas resulting in the
provision of lasting solutions to the
problems.”

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