Fidelity bank banner UBA banner
Amend outdated financial laws to improve IGR, financial governance - Expert

By Charles Iwuoha, Enugu on 11/05/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 454

•Enugu State Governor, Ifeanyi Ugwuanyi
•Enugu State Governor, Ifeanyi Ugwuanyi

 

 Task Team Leader of State and Local Governance Reform (SLOGOR), Mr Ikechukwu Nweje has urged state governments to amend outdated financial laws to improve their Internal Generated Revenue (IGR) and financial governance.

Nweje made the call at a retreat organised for the six SLOGOR states participating in the Public Financial Management (PFM) Reforms in Enugu on Wednesday.

The retreat is being organised by the Ministry of Budget and National Planning in collaboration with the World Bank and the European Union.

The theme of the three-day retreat is: “Assessing the Implementation of the PFM Reforms at the Sub-National Levels of Government”.

Nweje noted that the obsolete financial laws made during the 60ths had been a cork in the wheel of progress for a robust, dynamic and progressive 21st-century financial system meant for the better revenue collection and management.

He also said that there was a need for more awareness on recent financial governance laws so that executors and state chief executives should respect them to improve transparency and accountability in public financial management.

The task team leader, whose SLOGOR project had lasted for over three years, said that SLOGOR had tremendously improved the IGR of some states through following modern financial laws and procedures.

“Through SLOGOR, some states had increased their number of people in their tax and IGR drag-nets to include not only civil servants but the wealthy, traders and other people that engage in one business activity or the other.

“The SLOGOR project had made states subscribe to modern and practical financial integrity packages like Treasury Single Account (TSA) and other forms of financial streamlining to check financial mismanagement, leakages and fraud.

“SLOGOR is also focusing on continuous advocacy and enlightenment to build the capacity of personnel of state IGR officers and for them to learn international and modern best practices,” he said.

In an address, Permanent Secretary, Ministry of Budget And National Planning, Mr Olajide Odewale, said that the choice of the theme for the retreat was to enable all stakeholders to critically assess the project and take stock of the implementation of its different components, particularly the PFM Reforms.

Odewale, who was represented by the Director of Finance and Account, Mr Adetokunbo Adebanjo, noted that the success of the implementation of this component would no doubt enhance the achievement of the project development objectives, which is to improve transparency, accountability and quality in public financial management in the participating states.

“It is pertinent to point out that the SLOGOR project was not designed for the PFM alone, it is also expected to promote devolution of functions to Local Government Areas and strengthen project coordination. The commitment by the states is therefore, critical for the realisation of the project objectives.”

Earlier, the National Project Co-ordinator of SLOGOR, Mr S.O. Eloho, said that effective PFM reforms at the state level would complement the efforts of the Federal Government, particularly in its fight against corruption and economic diversification.

“We appreciate the European Union for providing the resources under an implementation arrangement with the World Bank and to thank the World Bank for its commitment to the effective delivery of the project.

“It is also worthwhile to commend the efforts of the six beneficiary states for the progress made so far and to urge you to work harder to access the Performance Challenge Fund which is an incentive for performance,” Eloho said.

The six states participating in the SLOGOR project are Anambra, Cross River, Jigawa, Kano, Osun and Yobe.

 

Source News Express

Posted 11/05/2018 9:57:27 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Air hostess falls off from plane

200 foreign exhibitors, 500,000 visitors expected at 2016...

BREAKING: Senate demands release of result of annulled...

Dying patients beg FG to end doctors’ strike...

Protests in Abia as tribunal upholds TA Orji’s...

$2.1bn Arm Deal: FG agrees to consolidate charges...

Bayelsa, Delta deny owing workers

Aguata (Anambra) stands still as Anglican Primate opens...

Toni Kan and partner sell sabinews.com in landmark...

U.S., Russia in diplomatic war, expel each other’s...

Lagos drops hint of impending execution of Rev....

Delta SUBEB boss worries over primary school teachers...

 

Latest News Minimum Wage: Labour meets today for final decision 5 killed in Ebonyi, Benue clash 2019: Why we support Atiku/Obi ticket — Lecturers, students Missing General: Army hands over 13 suspects to police NYSC bans Benue varsity graduates from National Service Obasanjo’s son joins Buhari Campaign Team Alhassan strips Taraba APC office, retrieves all donated furniture Flood: Diseases hit IDPs camp in Bayelsa 40 pct of my cabinet will be women, youths — Atiku HURIWA: Buhari failed by not stopping Hauwa Limam’s gruesome murder by Boko Haram Accurate and timely information critical for national unity, growth of democracy — Minister N45M APC Nomination Fees: Court fixes Friday for hearing

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (407,099 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,570 views) Shameless Genevieve Nnaji exposes breasts in public (314,933 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (257,231 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,542 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,365 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,185 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,675 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,268 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,939 views) Lagos plane crash: Journalist releases victims’ names (161,563 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,345 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,685) Business Verdict (52) Columnists (946) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (659) Global Business Monitor (304) International (2,538) Interview (165) Live Commentary (28) Love Matters (145) News (39,701) Opinion (1,124) Pidgin (13) Politics (7,267) Religion (881) Sports (1,731) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement