FG Commends Kwara State for Exemplary Financial Transparency – THISDAYLIVE

Kwara State Government Commended for Transparency in Handling Public Funds and Compliance with IPSAS

Kwara State Government Commended for Transparency in Handling Public Funds

The Kwara State Government has received high praise from the Federal Government for its transparency in handling public funds and compliance with the International Public Sector Accounting Standards (IPSAS). The commendation was given by the Accountant General of the Federation, Dr Oluwatoyin Madein, during the 44th Retreat of the Federal Account Allocation Committee (FAAC’s) Sub-committee on IPSAS’ implementation in Ilorin.

IPSAS, which stands for International Public Sector Accounting Standards, was adopted by the Federal Government in 2010 to ensure accountability and transparency in financial reporting. The AGF specifically commended Governor AbdulRahman AbdulRazaq for his commitment to public financial management, noting that Kwara State serves as a model for other states in the country.

Madein praised the Kwara State government for its exemplary performance in financial reporting and transparency, stating that the state has been compliant with IPSAS standards. She highlighted the importance of IPSAS in boosting accountability and transparency in government financial management, and expressed satisfaction with the progress made by all three tiers of government in Nigeria.

Governor AbdulRazaq, in his remarks, attributed the success of his administration in IPSAS implementation to hard work, resilience, and the support of public officers and stakeholders. He emphasized the importance of transparency, accountability, and efficiency in public financial management, and thanked the FAAC sub-committee for their guidance and support.

The Commissioner for Finance, Dr Hauwa Nuru, described the high rating in IPSAS compliance as a significant achievement for the administration. She thanked the governor for his support and collaboration in achieving this success.

The retreat, which was attended by government officials and financial experts, provided an opportunity for reflection, sharing of experiences, and collaboration to strengthen financial management systems. Participants were urged to actively engage and collaborate to identify innovative solutions that will further advance IPSAS implementation efforts in the state.