Economy

FG Says IPPIS Has Helped Save N361 Billion Despite Opposition

  • FG Says IPPIS Has Helped Save N361 Billion Despite Opposition

The Integrated Payroll and Personnel Information System (IPPIS) has helped saved more than N361 billion since it was implemented despite efforts to sabotage the new payment system, stated the Office of the Accountant-General of the Federation.

The media had reported that the April 2020 salaries of Nigerian Armed Forces personnel were delayed as a result of inexperience and incapability of the operators of the new payment system.

The OAGF, in a statement made available to journalists and signed by Mr Henshaw Ogubike, the Director, Information, Press and Public Relations, refuted the reports and explained that the delay in payment was as a result of the ongoing lockdown and not lack of knowledgeable experts.

The lockdown “led to late submission of variations by the agencies concerned and the need to accommodate their input in the April payroll accordingly”, the OAGF said.

Faulting the reports, the statement said, “Suffice it to state that the staff of the OAGF and the IPPIS are competent professionals who have demonstrated the will and capacity to get the job done in line with the presidential directives, despite distractions and opposition from some quarters whose objective is to sabotage the government policy that has saved the nation over N361bn.”

In the statement, the OAGF disclosed that the Federal Government had disbursed the April 2020 salaries of Armed Forces in the country.

The IPPIS department also confirmed that the salaries of Armed Forces personnel had been paid as of May 8, 2020.

“According to the IPPIS office, the delay in the salary payment was due to the unexpected lockdown in the country.

“This explanation became necessary in view of a report which alleged that the April 2020 salaries of military and paramilitary personnel were delayed as a result of incapability and inexperience of the operators of the IPPIS.

“As mentioned in the report, officials of the IPPIS had given assurances that the salaries would be paid between 4th and 8th May.

“This was promptly carried out as noted earlier,” the statement said.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

15 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

16 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

16 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

17 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

17 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

18 hours ago