The Office of the Accountant-General of the Federation (OAGF) has so far received ₦3.740 billion as budgetary disbursements this year.
Accountant-General of the Federation (AGF) Mr. Idris Ahmed made this disclosure during the 2018 budget defence of the Federal Ministry of Finance before the Senate yesterday in Abuja.
Ahmed said so far, in the budgetary releases made to OAGF this year include ₦2.836 billion for recurrent; ₦404 million for overheads and ₦400 million for capital projects.
Before the releases were made, appropriation to the OAGF was set at ₦2.988 billion for recurrent; ₦664 million for overheads and ₦792 million for capital expenditures.
Meanwhile the AGF has told members of the House Committee on Finance that for the budgeting process to be efficient, transparent and effective, both the Executive and Legislative arms of government needed to work in harmony.
He spoke during a three-day retreat for House Committee members on Finance and key stakeholders.
A statement from OAGF signed by its Director Information, Mrs. Kene Offie said Idris advocated for capacity building of the legislature which will have “far reaching positive effect on the nation’s economy because of their roles in timely passage of appropriation bills.”
In her keynote address, Minister of Finance, Kemi Adeosun represented by Seye Sefunye, emphasised on the importance of synergy among the executive and legislature in ensuring a better understanding of the Federal Government’s reform initiatives.
In a goodwill message by the Governor of Rivers State Nyesom Wike represented by his deputy, Dr, Mrs Ipalibo Banigo commended the Federal Government for its reform initiatives including the Treasury Single Account (TSA) and the Integrated Payroll Information System (IPPIS) which has helped effective cash management.
She noted that there is need for improvement in budget execution and “hopes the retreat would address issues like this including the twin issue of transparency and accountability.”