Naija News
FRCN charged to enforce acceptable financial reporting in MDAs
The Accountant-General of the Federation, Ahmed Idris, on Wednesday charged the Financial Reporting Council of Nigeria to enforce the acceptable financial management and reporting standards in ministries, departments and agencies of government.
Idris also charged the FRCN to ensure that the globally accepted financial reporting standards were complied with by private entities across the country.
He disclosed this in a statement issued in Abuja by the Director of Information, Press and Public Relations in the Office of the Accountant-General of the Federation, Henshaw Ogubike.
The statement stated that Idris made this known while playing host to the leadership of the FRCN, led by the Acting Executive Secretary, Iheanyi Anyahara.
It read in part, “He (Idris) saluted the courage of the FRCN in its determination to ensure compliance with internationally acceptable financial management and reporting standards, and advised that enforcement of the policy should be holistic to ensure optimal compliance by public and private entities.”
The auditor-general also pledged that his agency would ensure the timely production of Federal Government’s general purpose financial statements.
He stated that in compliance with the extant rules and regulations guiding its operations, the Federal Government treasury had bridged the hitherto deficit in the production of the Federal Government’s financial statements. Idris was quoted as saying, “The Federal Government treasury will continue to implement strategies that will guarantee timely production of general purpose financial statements of the Federal Government.”
On the request by the FRCN for partnership and synergy with the OAGF, Idris noted that the initiative was apt and would among other things promote healthy and mutually beneficial working relationship between the two agencies.
He approved the constitution of a joint committee comprising officials of the FRCN and OAGF to work out modalities for the proposed partnership.
In his remarks, Anyahara said the FRCN would support the OAGF to ensure a seamless implementation of the International Public Sector Accounting Standards accrual basis of accounting for general purpose financial statement in Nigeria.
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Kogi state governor, Yahaya Bello, has approved the implementation of N30,000 as minimum wage for the workers in the state.
The secretary to the state government, Folashade Ayoade disclosed this on Tuesday after an extensive meeting with the organized labour in Lokoja
She blamed the delay in the implementation on the inability for the committee to meet regularly due to the covid-19 pandemic which has been overcome.
The SSG equally commended the organised labour for their understanding and patience, which she said has resulted into the signing of the implementation of the new minimum wage.
Read Also: FCTA Set to Implement Minimum Wage for FCT Workers
Author: Eunice Johnson, Abuja
The Central Bank of Nigeria (CBN) has put Deposit Money Banks (DMBs) on notice that it will stop selling forex to them by the end of 2022. CBN Governor Godwin Emefiele made this known in Abuja on Thursday at the end of the Bankers’ Committee Meeting where he also introduced the RT200 Programme.
Emefiele said the time had come for the banks to go out there and source for forex by funding entrepreneurs with ideas. The CBN, Emefiele said, will support the banks by granting rebates and other support until the banks find their feet in sourcing their forex by themselves.
He also disclosed that the apex bank’s policies and measures have led to a significant improvement in diaspora inflow from an average of US$6 million per week in December 2020 to an average of over US$100 million per week by January 2022. He added that the CBN would be reviewing these intervention programmes going forward to ensure that they continue to achieve the desired results.
He said international bodies, including some embassies and donor agencies, have been complicit in illegal forex transactions that have hindered the flow of foreign exchange into the country.
Read Also: CBN Encourages Nigerians to Accept E-Naira
Author: Gift Wada, Abuja
The Comptroller General of Customs Col. Hameed Ibrahim Ali (Rtd.) has approved the deployment of 37 Comptrollers to various Units, Departments and Commands across the country.
This was disclosed in a release signed on Tuesday by the Customs Deputy National, DC Timi Bomodi for the Comptroller General of Customs.
Among those deployed are the present National PRO of Customs Comptroller Joseph Attah who will assume the office of Area Controller of Kebbi Command, Comptroller AAS Oloyede who shall be moving from ICT/MOD to Tin Can Island Port Command, while Comptroller SI Bomoi to FCT Command. Other postings are Comptroller BA Jaiyeoba to Oyo/Osun Command, Comptroller A Dappa-Williams to Eastern Marine Command, Compt. MA Umar Kano/Jigawa, Compt. KC Egwuh ICT/MOD, Compt. LM Mark Enugu/Anambra/Ebonyi, Compt. T Tachio CTC Kano, Compt. AA Umar Western Marine, Compt. M Dansakwa North Eastern Marine, Compt. AC Ayalogu T & T and Compt. KD Ilesanmi will assume duty as Comptroller Board among others.
Ali in postings released on 7th of February, charged the newly posted Comptrollers to justify the confidence reposed in them by NCS Management by bringing to bear their years of experience and training in trade facilitation and anti-smuggling activities on their new assignment.
Given the enormous expectations of government regarding revenue generation in the current year, the Comptroller General reiterated the need for all Area Controllers and Unit heads to take full charge of the affairs of their Commands by ensuring absolute compliance with extant fiscal policies while leveraging on the efficient management of data to optimize trade facilitation and revenue collection.
Furthermore, the CGC directed all officers to be extremely vigilant in protecting the lives and wellbeing of Nigerians by ensuring the full fortification of our borders against the incursion of smugglers and other cross border criminals.
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