FG To Boost Transparency, Accountability In World Bank-Funded Projects

The office of the Accountant General of the Federation (OAGF) has announced a series of critical management reforms aimed at enhancing transparency, accountability, and efficiency in the execution of the World Bank Funded projects across Nigeria.

The Accountant-General of the Federation, Dr Shamseldeen Ogunjimi, disclosed this during his remarks at the Financial Work for Accountant-General, Heads of Projects, Financial Management Units, and Coordinators of World Bank Funded projects, which held on Tuesday at the Treasury House, Garki, Abuja.

The AGF who stated that the workshop is to deleberate on enhancing transparency and accountability in the financial management of donor -funded projects, added that these values are the foundation upon which the government build trust, ensure effective use of resources and achieve project development objectives .

He also disclosed that the Financial Management Manual (FMM) has been developed by the office of the Accountant General of the Federation (OAGF) to guide the execution of the financial transactions in projects

He urged all project Coordinators, Projects Accountants, Heads of Project Financial Management Units (PFMUs) and other relevant stakeholders to use the FMM for their implementation to minimise infractions ,improve performance and sustain favourable rating with the World Bank.

The AGF also disclosed that OAGF and World Bank have agreed that project Financial Management staff are not to be removed six months before the closure of the projects in order to guide against lapsed loans and undocumented advances.

This aims to ensure that transition of project financial management staff is managed proficiently to avoid disruptions in implementation.