The Acting Accountant General of the Federation, Chukwunyere Anamekwe, has called on stakeholders to come up with concrete strategies that will help to effectively manage the country’s fiscal challenges.
He stated this in a keynote address at the opening of the 2022 Retreat for members of the Technical Sub-Committee on Cash Management.
A statement by Henshaw Ogubike,
Director Information, Press and Public Relations Office of the Accountant General of the Federal (OAGF) qouted the AGF as saying, “the dwindling revenues coupled with increasing wage bills, increased expenditure due to mounting security challenges and social needs of the citizenry called for entrenchment of fiscal discipline and articulated deployment of strategies that will help mitigate the financial challenges and boost revenue generation.”
Anamekwe maintained that the government cannot continue to borrow to fund its objectives, adding that in the face of fluctuating oil revenues, stakeholders should come up with ideas and strategies to boost internally generated revenue.
He charged participants at the Retreat to, among other things indentify the challenges to revenue generation and other means of enhancing inflow into Federal Government coffers; ensure the cutting down of the cost of governance in the most acceptable way; and give quality and profitable advise to the Federal Cash Management Committee.
The 2022 Technical Sub-Committee on Cash Management (TSCM) Retreat which is the 4th Edition, has the theme, “Enthroning Fiscal Discipline in Nigeria’s Public Financial Management: A Clarion Call to All Stakeholders”.
The principal objective of this year’s Retreat was to improve on the capacities of members/stakeholders and get them more acquainted with Nigeria’s fiscal challenges and advance recovery strategies that will enable effective fiscal management and avoidance of deficits.
The technical sub-committee on cash management, inaugurated in April 2016, is the professional arm of the Federal Cash Management Committee. Among other functions, the technical sub-committee obtains stakeholders’ inputs, deliberates on them and makes proposals to the Federal Cash Management Committee for approval regarding the payment of personnel costs, pension/gratuities as well as statutory transfers.