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TMCNet:  Accountant - General to Monitor MDAs' Financial Transactions

[December 12, 2013]

Accountant - General to Monitor MDAs' Financial Transactions

(AllAfrica Via Acquire Media NewsEdge) Office of the Accountant General of the Federation has commissioned a new Electronic Inspection Unit aimed at eradicating leakages in government revenue and expenditure.

The Director of Treasury Inspectorate, Mr. Yemi Adelakun, said the new unit is equipped with state-of-the art server, internet connections and highly configured computers that will enable the Treasury Inspectorate Department monitor financial transactions of Ministries, Department and Agencies as well as Nigeria's Diplomatic Missions overseas.


He also said the unit is equipped with Accounting and Analytical software packages, such as SKYSOFT Public Accounting Software (SPAS), ACL Analytic Software and IDEA Caseware Software.

Mr. Adelakun stated that the aim of the electronic unit is to effectively minimize leakages in government revenue, expenditure and enhance value-for-money in budget implementation.

He added that corruption is expected to be curbed drastically through the activities of the new unit.

"The ultimate goal of electronic inspection is to monitor accounting records and bank accounts of MDAs online and minimize physical visits of inspectors to MDAs. This will require special funding in next year's budget and continuous training of the inspectorate officers." Copyright Daily Trust. Distributed by AllAfrica Global Media (allAfrica.com).

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