Business
FG CHARGES AUDITORS ON ROBUST MECHANISMS TO ELIMINATE WASTE IN PUBLIC FINANCES
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Joel Ajayi
The Federal Government has charged Internal Auditors working in its Ministries, Departments and Agencies (MDAS)
to intensify efforts in devising better means, more effective and robust administrative mechanisms capable of eliminating waste and corrupt tendencies in public finances
The Honourable Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, gave the charge in his remarks at the opening ceremony of the 4th Internal Auditors Retreat held in Abeokuta, the Ogun State Capital
The Minister, who was represented at the event by the Permanent Secretary, Special Duties, Federal Ministry of Finance, Mr Okokon Ekanem Udo, observed that
Judging from the retreat, it is indeed very evident that the treasury is demonstrating full knowledge of the dire needs of the nation. It captures its mood, given the dwindling revenue profiles of the country and the attendant challenges on the cash flow.
These challenges call for prudent management of what is available through the Public Financial Management Reforms as being developed and coordinated by the Office of the Accountant-General of the Federation
Therefore, we must all devise better, more effective, and robust administrative mechanisms that will reduce, if not eliminate waste and corrupt tendencies by using effective reforms
He commended the Accountant-General of the Federation, Oluwatoyin Madein’s efforts in implementing reforms and strategies that will ensure efficient management of the nation’s financial resources.
Declaring the retreat open, the Ogun State Governor, Dapo Abiodun, said his administration will continue to ensure probity and judicious spending of public funds and other resources by avoiding reckless spending.
The Governor, who was represented by his Deputy, Engr. Noimot Salako-Oyedele noted that
accountability, transparency, and probity are pivotal elements that enhance good governance and promote sustainable development.
He emphasized the aptness of the theme of the retreat assuring internal auditors of his administration’s continued support enabling them to discharge their duties efficiently as partners in prudent financial management practices.
The Governor encouraged participants to put into good use the knowledge garnered at the retreat as representatives of various MDAs of governments at the federal, state, and local levels
The Accountant General of the Federation, Oluwatoyin Madein, in her remarks at the occasion, said the overall objective of the retreat was to promote accountability and transparency in all facets of the nation’s public finance and management architecture.
She charged participants at the retreat to appreciate that accountability and transparency remain major watchwords for prudent financial management practices, stressing that they are the major prerequisites for economic growth and development.
Also speaking, the Chairman, Economic and Financial Crimes Commission, Mr Olaonipekun Olukoyede, represented by the Director, Internal Audit of the Agency, Mrs Idowu Apejoye, said that the retreat would help curb corruption and achieve stability in public finance.
The four-day retreat with the theme: Enhancing Efficiency and Effectiveness in the Administration of Public Resources: The Role of Internal.Auditors was organized by the Office of the Accountant General of the Federation.
Business
Climate Change: GIZ Lead Efforts To Boost Collaboration In Africa
![](https://thegleamer.com/wp-content/uploads/2024/08/IMG-20240828-WA0129.jpg)
Mariam Sanni
The German Agency for International Cooperatives ,GIZ has intensify efforts on climate change by announcing the formation of Association of Africa Climate Adaptation Business Network (AACABN) to foster collaboration among African businesses dedicated to climate adaptation.
Dr. Denis Mujibi of Usomi (Usomi) expressed gratitude to the German government, GIZ, and all stakeholders for their support.
He is the first cohort to establish such an association that is also aimed to build on the program’s momentum on climate adaptation.
The association selected Suleiman Dikwa (Green Sahara Nigeria) as Chairman and Dr. Denis Mujibi (Usomi) as Secretary. The Steering Committee comprises four members: Greg Ikwe (Oklan Best Limited), Elizabeth Mbogo (Nazava), Ibukunoluwa Animashaun (FutuX Agri-consult Ltd), and Greg Ikwe (Oklan Best Limited).
GIZ has endorsed this initiative, recognizing its strategic alignment with their objectives to sustain support for climate adaptation businesses and facilitate investment in the sector.
The establishment of AACABN marks a significant step towards creating a unified network of climate adaptation enterprises across Africa, poised to drive meaningful change and innovation.
Similarly , the two-year program, organized by GIZ, aimed at enhancing business modeling and financial linkages for climate adaptation, has successfully come to a close.
The intensive program engaged 13 select African companies from Kenya and Nigeria, with the final segment held at a summer camp in Feldafing, Germany.
The initiative focused on developing sustainable business models, measuring impact, and preparing companies for investment readiness in the climate adaptation sector. Participants underwent diverse training modules tailored to address various sectors, including:Agriculture, Forestry, Climate-smart technologies , Infrastructure, Irrigation, Water, among others .
Through this program, participants gained valuable insights and skills to refine their business approaches and adapt to evolving climate challenges.
During the closing ceremony, the African Climate Adaptation Business Network was formally established,
The Program Head Denise Engel praised the program’s achievements in promoting peer learning and enhancing business models to attract investments.
Inaugural Members of PrivABoo: Arctic, Infrastructure, Botanic Treasures, CoFarms
Ecocycle,FutuX Agri-consult Ltd, Green Sahara, IrriHub, MajiAgri, Nazava,Oklan Best Limited,Peal, Agro., Usomi, Utooni, and White Gold Camel Milk
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