Metro & Crime

Ondo tops FG’s fiscal transparency rating, gets World Bank grant

…state, councils share N137m land use charges

The Federal Government has ranked Ondo State first in its rating of the 36 states of the Federation in Public Sector Accounting Procedures.

This was contained in the current report on the Monitoring and Evaluation of International Public Sector Accounting Standards (IPSAS) Implementation released by the Federal Ministry of Finance, Budget and National Planning.

According to the Commissioner for Information and Orientation in the state, Donald Ojogo, in a release made available to journalists, the report has already been sent to the World Bank in readiness for a yet to be specified funds as grant to Ondo.

Ojogo said: “Mr Governor has already been briefed in writing by the state’s Auditor General for Local Governments via a letter dated June 24, 2021. Interestingly, the Federal Ministry of Finance, Budget and Planning had since sent it to the World Bank in readiness for the grant. It is a very commendable development that attests to the government’s transparency.”

The report, titled: “Report on the Monitoring and Evaluation of the Level of Implementation of IPSAS Accrual Basis of Accounting by Public Sector Entities (PSEs) In Nigeria”, covers the 774 local governments across the states as well as the area councils in the Federal Capital Territory, Abuja.

The survey and rating exercise was undertaken by a team from the Federal Ministry of Finance, Budget and National Planning late last year with focus on the constitution of IPSAS implementation committee as approved in the governance structure, training of officers on accrual basis of accounting and setting up of stock taking team in line with the National Treasury Circular issued in 2015.

 

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