Office of the Accountant General of the Federation
Nigerian government approves new debt management strategy
The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023. With the approval, announced during Wednesday’s virtual FEC meeting, the DMO which is saddled with managing the nation’s debt matters, has promised full implementation to support economic development while ensuring that public debt is sustainable. The MTDS is a policy document which provides a guide to the borrowing activities of the government in the medium-term, usually four years. It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader mac...
Nigerian government posts 35 firefighters to man new Treasury House substation
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Wednesday commissioned a fire substation built for the Treasury House which houses the Office of the Accountant-General of the Federation. Speaking at the event, the Minister extolled the Accountant-General of the Federation, Mr Idris Ahmed, for building the facility which will help battle fire incidents in the building and its environs. She was also pleased that 35 firemen have been posted to man the facility by the Comptroller-General of the Fire Service. According to her, “the Treasury House is the key driver of the ongoing Public Financial Management Reforms in line with the desire of the Federal Government to bring the nation up to speed with other leading world economies. “In carrying out this enormous task, ...
Ibrahim Magu failed to account for interest on N550 billion recovered loot – panel
Voice of Nigeria A prior presidential panel, which investigated the suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, indicted him, a report has alleged. The report noted that the embattled EFCC boss had been unable to account for the interest generated from N550bn cash recovered from 2015 to 2020. The panel is separate from the panel led by a former President of the Court of Appeal, Justice Ayo Salami, which is currently probing Magu and other top officials of the agency. The chairman of the previous committee was Alhaji Abdullahi Ibrahim and the members were DIG Anthony Ogbizi; a member from Federal Ministry of Justice; Mualledi Dogondaji from the EFCC; Hassan Abdullahi from the DSS; an unnamed member from the Office of the Accountant General of the...
ICPC: How Kwara top shots hijacked public solar street lights for their residences
The Independent Corrupt Practices and other Related Offences Commission has ordered the relocation of solar street lights from private residents in Ilorin, Kwara State. Newsmen reports that ICPC uncovered the sighting of solar street lights in private residents of some highly placed individuals in Ilorin. Newsmen report that ICPC is tracking over 250 projects worth N4.1 billion in its second phase of constituency and executive projects executed between 2015 and 2019 across the state. Aminu Bala, the Team Leader of the constituency projects tracking operatives of ICPC, told newsmen on Monday that the anomalies were discovered in the highbrow Agric Settlement along Old Jebba Road and Oloje Federal Housing Estate, Ilorin. The solar street lights, according to the ICPC tracking operatives, are...
ICPC tracks 67 constituency projects in Nasarawa
File Photo The Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Wednesday said it has started tracking 67 selected constituency projects in Nasarawa State. Mr Clement Obaniyi, the commission’s Commissioner in Benue, also overseeing Nasarawa and Plateau, told newsmen in Makurdi on Wednesday, noting that the projects were 2016 constituency projects of National Assembly members in Nasarawa State. Obaniyi said that the selected projects ranged from construction of boreholes, HIV campaign projects, provision of buses/cars, erosion control and flood, electrification, dams and road construction. He added that the projects were selected for tracking by a team from Budget Office of the Federation, Office of the Accountant General of the Federation, ICPC, National Instit...
Federal, states, local government share N606 billion for April
The three tiers of government on Friday shared about N606.196 billion as federal allocation for April 2020. Details of the allocation were contained in a Secretariat report released by the Office of the Accountant-General of the Federation at the end of the online meeting of the Federation Accounts Allocation Committee (FAAC) in Abuja. The meeting was presided by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Mahmoud Isa-Dutse. The communique showed the allocation included revenue from the Value Added Tax (VAT) collection, Exchange Gain, Solid Mineral Revenue, Excess Bank Charges and Excess Crude Oil Revenue. The breakdown of the allocations showed the federal government received about N169.831 billion, the states N86.140 billion, local government counc...
