June 22, 2021

NEWS AGENCY OF NIGERIA

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FG, PSIN to partner on strengthening fiscal transparency in states

By Folasade Akpan

The Federal Government and Public Service Institute of Nigeria (PSIN) have expressed their readiness to partner on strengthening fiscal transparency and accountability in states.

National Programme Coordinator, SFTAS Programme for Results, Mr Stephen Okon, made the disclosure on Tuesday in Abuja.

The News Agency of Nigeria (NAN) reports that the partnership is under the federal government/World Bank-assisted States Fiscal Transparency Accountability and Sustainability (SFTAS) programme.

A statement issued by Communications Specialist for SFTAS, Mr Ibrahim Mohammed, quoted Okon as stating this at a four-day pilot workshop for Curriculum Development on Public Financial Management and Open Government Principles (OGP).

He said that the workshop was organised by PSIN, in collaboration with West Africa Institute for Financial and Economic Management (WAIFEM).

Okon said that strengthening fiscal transparency and accountability in states through SFTAS programme for results would go a long way in ensuring good fiscal governance for the sustainable development of Nigeria’s economy.

He explained that the technical assistance component of the programme required implementing agencies and partners to deliver capacity-building to states on the Disbursement Linked Indicators (DLIs).

This, according to him, is to ensure that they were supported to achieve results, a situation that would attract handsome financial benefits to the successful states.

Aside PSIN, Okoh listed other implementing agencies and partners to include: Office of the Auditor-General of the Federation (OAuGF), Debt Management Office (DMO), Nigeria Governors’ Forum (NGF) and Open Government Partnership (OGP).

Earlier, Administrator of the institute, Mr Abdulganiyu Obatoyinbo, said that under the SFTAS programme, PSIN was assigned the mandate of providing capacity-building to the states in six core areas.

The core areas, according to him, are improved financial reporting and budget reliability, increased openness and citizens’ engagement in the budget process, improved cash management and reduced revenue leakages through implementation of state Treasury Single Account (TSA).

Others areas, he said, were strengthened internally- generated revenue collection, biometric registration and bank verification number used to reduce payroll fraud and improved procurement practices for increased transparency and value for money.

Obatoyinbo, however, restated the institute’s resolve to deliver on its mandate so as to enable the programme realise its objectives of engendering efficient and sustainable public financial management system in the country.

Director-General of WAIFEM, Mr Baba Musa, said the agency was hired by SFTAS programme coordination unit/PSIN to design curriculum-based and structured face-to-face learning courses on Public Financial Management (PFM) and OGP to ease delivery of capacity-building activities to states.

NAN reports that SFTAS is a programme which focuses on strengthening the fiscal sustainability, transparency and accountability of states across the federation. (NAN)

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