Buhari Approves Treasury Officers for Revenue Agencies

Buhari on arrival from LondonBuhari on arrival from London
  • Buhari Approves Treasury Officers for Revenue Agencies

President Muhammadu Buhari has approved the posting of treasury officers from the Office of the Accountant-General of the Federation to key revenue agencies.

The treasury officers from the OAGF are to serve as directors of revenue and investment departments in the revenue generating agencies.

Some of the agencies where they will be posted are the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigerian Customs Service, Central Bank of Nigeria, Nigerian Ports Authority among others.

The Accountant-General of the Federation, Alhaji Idris Ahmed, confirmed the development during a meeting with the leadership of the Institute of Chartered Accountants of Nigeria.

He said the posting was borne out of the need to block revenue leakages in the revenue generating agencies.

He said, “As part of our roles as drivers of the reforms in the public finance sector and in line with the present government’s commitment to diversify sources of income, strengthen controls as well as boost revenue generation of government, the Treasury has come up with a restructuring of its functions and departments.

“This will ensure that treasury officers are assigned to key revenue generating agencies, such as NPA, NIMASA, CBN, NNPC, NCS, NCC and FIRS.

“Government is not unmindful of the level of revenue leakages in some of these key revenue generating agencies and has come up with this policy that will ensure that treasury officers take charge of these revenues so that they can be tracked and accounted for using ICT tools and automation platforms.

“The government has also approved that the tenure of the heads of these agencies will be performance based in line with revenue targets set out for them.”

He, therefore, called on ICAN and other professional accounting bodies in the country to support government’s efforts by coming up with strategies for government to generate more revenues.

He also urged ICAN to come up with measures to assist government in reducing the level of corruption in the public and private sectors of the economy.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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