Business Hilights

Tracking Nigeria's Headline Business News Online

Banking/Investments

Accountant General distances self from Beta Edu’s fund transfer mess

Chevron
Advertisements
Ad 2
Advertisements
Ad 3
Advertisements

The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein has clarified that the OAGF does not make payments on behalf of MDAs for projects and programmes implemented by the MDAs.

The AGF was reacting to media reports concerning a request from the Ministry of Humanitarian Affairs and Poverty Alleviation for payment of grants to vulnerable groups in some States of the Federation.

She stated that allocations are released to self-accounting MDAs in line with the budget and such MDAs are responsible for the implementation of their projects and payments for such projects.

In a statement in Abuja, the AGF explained that although her Office received the said request from the Ministry, it did not carry out the payment. The Ministry was however advised on the appropriate steps to take in making such payments in line with the established payment procedure.

The AGF noted that in such situations, payments are usually processed by the affected Ministries as self-accounting entities and no bulk payment is supposed to be made to an individual’s account in the name of Project Accountant.

She added that such payment should be sent to the beneficiaries through their verified bank accounts.

Dr. Madein reiterated her determination to uphold the principles of accountability and transparency in the management of public finances. She advised MDAs to always ensure that the requisite steps are taken in carrying out financial transactions.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.