Centre Calls For Transparency As FAAC Allocation Jumps

• The federal government received N1.959 trillion in revenue in June
• The FAAC shared a total of N907.054 billion among the federal government, states, and local governments
• The Centre for Fiscal Transparency and Integrity Watch (CefTIW) has called for accountability and transparency in the use of government resources

As the Federal Accounts and Allocation Committee (FAAC) reported an increase in revenues, the Centre for Fiscal Transparency and Integrity Watch (CefTIW) demanded accountability and transparency.

The federal government received N1.959 trillion in revenue in June, with the Federal Account Allocation Committee (FAAC) recently sharing a total of N907.054 billion as the federal government received N345.564 billion, states received N295.948 billion, and local governments received N218 billion.

In a statement released in Abuja on Monday, it’s Head of Public Relations Victor Agi, CefTIW, said it;

Welcome the revenue jump into the federation account after removing subsidy and floating of the naira. However, it is disturbing that the government has not devised measures to monitor its expenditure to forestall the habitual abuse of government resources.

We recall that the immediate past administration of President Muhammadu Buhari launched the Open Treasury Portal where the Office of the Accountant General of the Federation (OAGF) is mandated to publish payments of at least N10 million, while all Ministries, Department and Agencies of Government (MDAs) are equally expected to publish payments above N5 million made out of all public funds under their purview.

This initiative was novel and intended to promote transparency through the timely disclosure of financial information to civil society organizations and the public at large.

The centre urged “state governments to take a leaf from the federal government’s open treasury portal policy and establish a culture of transparency and accountability in the administration of state resources.”

“A political will that will grant financial and administrative autonomy to local government, after a bill that sought to “abrogate the state-local government joint account…” suffered a setback, state governors must put measures in place that will promote openness in how local government resources are utilized.”