It is now mandatory for the Accountant General of the Federation and all accounting officers to publish daily reports of their spending in the region of N10m made from public treasury.
It is also compulsory for Ministries , Departments and Agencies of government must do the same but for payments above N 5m.
A statement signed by the Head , Press and Public Relations , Ministry of Niger Delta Affairs, Patricia Deworitshe, after the launch of the Federal Government Transparency Policy / Open -Treasury Portal in Abuja, revealed this.
“ The President said these reports must include performance of the budget by various dimensions including MDAs , functions and economic activities performed by all the Federal Government ’s agencies.
“ He said these reports must be ready within seven days after the end of the month.
“ The President pledged to Nigerians that his administration would change the way business is done in the country by improving revenue collections as well as spending through a better system . He said the Accountant -General of the Federation, and all accounting officers were required to publish daily reports at least N 10 m ( spending ) while all the MDAs must publish payments above N 5m made out of all public funds under their purview.
“ He also reiterated that monthly fiscal accounts detailing fiscal performance of the Federal Government must be done within 14 days after the end of the month. The AGF and all Accounting Officers of the MDAs must publish quarterly financial statements for government as a whole and for individual MDAs respectively which must be published quarterly,” the statement said.