RegTech

FG Launches Open Treasury Portal, directs MDAs to Publish Payment above N5m

ADEWUMI OJO

With the focus to deepen financial transparency in the country through the Treasury Single Account (TSA), the federal government of Nigeria has launched a national Open Treasury Portal for all the Ministries, Departments and Agencies.

The government said the steps will enhance transparency and accountability in the preparation and presentation of financial statements among the MDAs.

At the inaugural Nigeria Extractive Industries Transparency Initiative (NEITI) policy dialogue forum organised by the agency, President Muhammadu Buhari represented by Minister of State for Niger Delta, Sen. Tayo Alasoadua, said the initiates will lead to transparency and economic change.

The president directed all the MDAs to publish daily reports of payments from five million naira; monthly budget performance; quarterly financial statements and annual financial statements.

The President said all the reports are to be published within stipulated deadlines via opentreasury.gov.ng.

“All those doing business with the government should know that henceforth all payments they receive will be made public. ‘’

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He urged states and LGAs to key into this transparency initiate, which is line with the Open Government per Partnership (OGP).

The president also informed that the Accountant General of the Federation will also publish on daily basis inflows and outflows into the treasury.

Executive Secretary NEITI, Waziri Adio, said open treasury portal was conceived and implemented by staff of the Office of the Accountant General, at no cost to the country.

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