No more room for pilfering of public funds, says AGF

Thanks to the checks and balances being put in place by the current administration, there may be no more room for pilfering of public funds as it was in the past, the Accountant General of the Federation (AGF), Ahmed Idris, has assured.

The AGF, who spoke at the Daily Trust Board of Economists Breakfast Meeting on Thursday in Abuja, said Nigeria has adopted high international standards for its accounting system to ensure nothing is hidden from the general public.

He said the federal government has weeded all ghost workers out of government payroll through online system of salary payment and no single individual will be able to collect more than one single salary in a month due to checks put in place by the government.

Read also: AGF assures on recovery of $750 million Abacha loot

The AGF also disclosed that the Treasury Single Account (TSA) adopted by the federal government ensures that government can easily fund its budget as public funds will no longer go to private pockets.

The Minister of Information, Alhaji Lai Mohammed, on his part, lamented that the problems confronting Nigeria are self-inflicted.

Represented by Jimoh Lawal, Lai Mohammed said Nigeria over the years decided to concentrate on only one product at the expense of other products.

He said corruption and indiscipline have been a major problem in the country and these have affected all facets of the economy. He added that the country could achieve more than what Singapore achieved in few years if Nigerians imbibed the virtues of discipline and shun corruption.

The Secretary General of the Nigeria Labour Congress (NLC), Professor Peter-Eson-Ozo, told participants that it is treasonable for state governments not to pay minimum wage if the private sector can pay the minimum wage.

On the declining value of the naira, he said Nigeria needs a big forum on how to save the currency.

He revealed that the NLC has put together a document on how to save the naira and pave a way for the development of the Nigerian economy.

Managing Consultant of Index Consulting, Chiichii Ashwe, said that the problem with the naira is that Nigeria is running a casino economy characterised with speculations.

He expressed supports for the position of President Muhammadu Buhari that the naira would not be devalued as the vicissitudes in the value of the naira are as a result of speculations on whether or not the naira will be devalued over time.

He advised the President to make a strong statement that his administration will peg the value of the naira on N200 per dollar all through his time in office to eliminate speculations completely.

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