By Gift Chapi Odekina
The Accountant General of the Federation, Alhaji Idris Ahmed has said that the Buhari administration has recorded commendable achievement in the management of scare resources since assumption of office in 2015.
Ahmed said reforms introduced by the government is being advanced to the next level in order to achieve optimum benefits and effectively sustain the gains of the reforms.
Speaking at his investiture as the 1st President (Post Chartered) and Chairman of Council of the Chartered Institute of Treasury Management (CITM), Ahmed said reforms such as the Treasury Single Account, IPPIS AND GIFMIS among others has helped government maximise scare resources in the last few years.
He said “one of my statutory duties as the Accountant-General of the Federation and Head of the Federal Treasury centres is the overall Management of receipts and payments of the Federal Government and Maintenance and operations of the Federation Account.
“The above mandate effectively covers the simple definition of Treasury Management as managing an entity’s liquidity and mitigating its operational, financial and reputational risks. including the entity’s collections, disbursements, investment and funding activities.
“What we do, day-in-day-out in the Office of the Accountant-General of the Federation is practical Treasury Management at its best.
“From July 2015 when I was graciously appointed as the Accountant-General of the Federation by President Muhammadu Buhari, my team and I were determined to infuse a lot of vibes into the numerous Public Finance Management reform initiatives being undertaken by the Office of the Accountant-General of the Federation; and even went ahead to introduce or recommend new ones.
“The primary objective of the PFM reforms is to ensure the sustenance of a stable fiscal position of the Federal Government that would engender efficient delivery of public goods and services in a transparent and accountable manner. It is on record that the present Administration has demonstrated a very strong will and commitment in its drive for managing scarce resources for public good.
“I will not bore you with the successes we so far recorded in our roles as the main drivers of the reform initiatives such as GIFMIS (Government Integrated Financial and Management Information System), TSA (Treasury Single Account), IPPIS (Integrated Personnel Payroll Information System), IPSAS (International Public Sector Accounting Standards) implementation.
“But we have been very successful with the PFM reforms; even though we are not unaware of some implementation challenges that are not insurmountable. Our desire is to advance the reforms to the next level in order to achieve optimum benefits and effectively sustain the gains of the reforms.”
Speaking on the Institute, he said “the journey to achieve the legal charter was indeed a very difficult one. At last, the uncommon diligence and tenacity of the founding fathers has paid off with the passage and assent of the Chartered Institute of Treasury Management (Establishment) Act, 2021”.
He promised to build a world class Professional treasury personnel that are conversant with complexities of modern treasury management and could competently and efficiently manage public, corporate and private Treasuries as the case may be.
He said “As the President and Chairman of Council of CITM, I will lean on the noble objectives of the Institute and our cognate experiences in managing the Federal Treasury, (the largest and most active Treasury in Africa) to propose and drive a robust and an ambitious AGENDA that would promote the CITM as a reference professional body to be reckoned with among its peers worldwide.
“Attention would also be paid to treasury management issues in the sub-national governments, especially the Local Governments.
Register of the Institute, Olumide Adedoyin said all over the world, there is no country that is free from daily problems of managing the nation’s economic affairs and well-being of its citizenry and populace.
According to him, the difference has been the mindset at orientation at cradle to be result oriented rather than being fault finders with judgmental spirit, adding that no government in any country has all it takes to move and accelerate the economic growth and development of its geopolitical territory.
He said ‘It is the strategic initiatives and unrelenting positive contributions of all and sundry at the sub-sector of the national economy driven by patriotism and loyalty to fatherland that have been the catalyst of economic breakthroughs in todays revered “advanced or developed” economies around the world.
“The challenge before today’s managers whether in the private or public sector of national economy is the workable and actionable solution to the existing problems on ground and also the ensuing ones not hitherto envisaged that may arise in the course of operations and implementation of formulated policies and strategic initiatives at the private sector and in government business within our national polity.
“What is peculiar in the case of our country Nigeria is the substantial supply of human manpower and high level intelligential with little or no contributions to the thinking pot of national development outside breathtaking criticism and accusation for which the primary mover if asked has no iota of idea that would give the needed but elusive solution.
“However, as it is universally believed and accepted that, “ideas rule the world.” Such transformational and result oriented ideas is undoubtedly a direct product of inquisitive mindset with strong believe in the existence of solution to every problem or challenges we encounter, though yet unknown but can be discovered by in-depth analysis rigorous brainstorming and thinking through on solutions, but not otherwise.”
He said further that “the foundation of CITM came through the thought process of a conceiving mind, curious enough to find solution to common problem of impacting cash management with treasury management initiatives as a measure of safe guiding the treasury.
“This can be achieved by the idea of an organization that could spearhead the establishment and raise a national consciousness of accountability, transparency, prudence and probity in public offices as a multi-purpose vehicle into solving our economic woes. Following up on this eye-opening idea, the process of the formation, founding, progressive operation of the body began with high financial outlay, sacrifices and many discouragements, but with undaunted resolve to see the idea materialize, we are here today.”
He said the Institute is fundamentally a research based professional institute assiduously enquiring into areas considered problematic, challenging and resistive to solution or a blockade to progressive initiatives, and finding answer with simplified implementable procedures for direct and alternative solutions.
