Admin l Sunday, December 24, 2017
ABUJA, Nigeria – Minister of Finance, Mrs. Kemi Adeosun has described as false and misleading reports in Premium Times suggesting that her ministry and Office of the Accountant of the Federation (OAGF) failed to adhere to the Fiscal Responsibility Act and that do not have an annual cash plan for every financial year for the purpose of implementing the Appropriation Act.
In a statement, the Adeosun refuted the report, describing it as misconceived, stressing that the Federal Ministry of Finance and the OAGF have always complied with the Fiscal Responsibility Act (FRA) as required by Section 22 of the FRA.
According to her, the OAGF has always prepared a cash plan for payment on a daily and month basis as well as revised it periodically.
“Both cash payment plan and revised plan are presented to the Cash Management Committee presided over by the Minister of Finance. Members of the Cash Management Committee include: the Honourable Minister of State for Budget and National Planning, Accountant General of the Federation, Director-General of the Budget Office of the Federation, Director-General of the Debt Management Office, Director of Cash Management Department in the Federal Ministry of Finance, a representative of the Central Bank of Nigeria, and some support staff from the Ministry, OAGF and Budget Office”, she said.
The Minister said the Federal Government’s cash payment platform, the Government Integrated Financial Management Information System (GIFMIS) makes it mandatory that a cash plan must be in place.
“This implies that the cash plan must be prepared, reviewed and finalized on the GIFMIS before any disbursement could be made whether personnel, overheads or capital expenditure related”, she said.
