Nigeria President Muhammadu Buhari on Monday directed ministries, departments, and agencies of the government to publish daily treasury summary statements of financial inflows and outflows.
President Buhari, represented by the Minister of State for Niger Delta, Tayo Alasoadura gave the directives at the official launch of the Financial Transparency Policy and Implementation Guidelines by the administration.
Buhari said the daily treasury statements by the Office of the Accountant-General of the Federation (AGF) will give the breakdown of all agencies responsible for each payment above N5 million.
Also, the AGF and all MDAs are expected to publish monthly budget performance report, including their functions, and economic activities performed by them within seven days to the end of the month.
The AGF was directed to also publish monthly fiscal accounts within 14 days of the end of the month showing the fiscal performance of the Federation in terms of revenue receipts from all collecting agencies and payments out of the Federation Account.
Buhari also directed the AGF to publish a quarterly consolidated unaudited financial statement of the Federal Government within a month of the end of the quarter with an annual general purpose financial report.
The president also asked the AGF to publish audited financial statements for the federal government and all public sector entities within a month of the end of the first quarter of the next year.
Buhari’s directives on the government’s financial inflow and outflow transparency are in compliance with the launch of the Open Treasury Portal (OTP).