FG is part financing 2017 budget with recovered funds- Buhari

The federal government  2017 budget is being partly financed with money recovered from treasury looters, President Muhammadu Buhari has said. The recovered funds being used, according to him, are those without legal encumbrances. President Buhari disclosed this at the 22nd Annual Conference of Certified National Accountants under the auspices of the Association of National Accountants of Nigeria (ANAN), in Abuja, yesterday.

The president who was represented by the Accountant-General of the Federation, (AGF), Alhaji Idris Ahmed, said “My Administration has practically done much in delivering on its core focus of diversifying the economy. Part of the stolen funds recovered is being used by government to finance the 2017 budget. Power generation has peaked at an all-time high of 7,001 Megawatts in the third quarter of 2017” He said “a firm implementation of the Treasury Single Account (TSA) since September 2015 has significantly enhanced transparency in the Federal Government’s Public Financial Management System.”

Earlier, the ANAN Chairman of Council, Alhaji Shehu Usman Ladan noted “the Accountant is key, we are calling on our members to increase their integrity quotient. As an association, we are strengthening our discipline mechanism to ensure that members found wanting do not go unpunished.” He urged the federal government to implement the law on the submission of audited accounts by all registered companies. Alh. Ladan  challenged the federal government to invest some of the recovered funds in the overall interest of Nigerians. Speaking on the fight against corruption, he pledged his members’ willingness to assist the government in tackling the monster.