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Grants: FG tasks states on National Chart of Account



News Today 2

By Temitope Ponle

The federal government has urged state governments to incorporate the national chart of accounts (NCoA).

This is to qualify them for performance-based grants under the State Budget Transparency and Sustainability Program (SFTAS) for the Annual Performance Assessment (APA) 2020 Results.

Mr. Stephen Okon, National Program Coordinator (CNP), SFTAS Program, launched the call in a statement by Mr. Ibrahim Mohammed, Communication Specialist, SFTAS Program Coordination Unit, Ministry of Finance, Budget and National Planning.

The federal government has also advised states to take steps to qualify for performance-based grants under COVID-19-related Disbursement Indicators (DLIs)due in 2021.

The SFTAS program is a results-based, $ 1.5 billion federal government program supported by the World Bank that aims to strengthen tax governance at the state level.

Okon was speaking at a one-day NCoA awareness workshop hosted by the Nigeria Governors Forum (NGF) for the Independent Verification Officer (IVA) on April 1.

The Nigerian News Agency (NAN) reports that the IVA is the Office of the Auditor General of the Federation (OAuGF).

Okon explained that the NCoA provided a standard template approved by the Federation Account Allocation Committee (FAAC) to be domesticated by state governments for their planning, budgeting, accounting, and reporting purposes. financial transactions.

“The adoption of the NCoA by state governments will strengthen the country’s national accounts and budget monitoring; promote greater transparency and accountability at all levels of government, ”he said.

The program coordinator said many states still struggled to accurately report under set requirements, while some had properly domesticated the NCoA in the past.

NGF Managing Director Asishana Okauru explained that the goal of the collaboration is to ensure that no state is left behind.

“Every state should get the support it needs to implement the agreed reforms,” Okauru said.

According to him, 36 states were deemed to have met the eligibility criterion for the preparation of their audited financial statements for fiscal year 2019 in accordance with International Public Sector Accounting Standards, and were published online before August 31, 2020.

He added, however, that the preparation of the 2021 budget in accordance with the NCoA and its online publication remained the eligibility condition for the 36 states to qualify for the performance-based grants under the APA SFTAS 2020 and for DLIs linked to COVID-19 expected in 2021.

He noted that the IVA would verify states’ compliance with the NCoA requirement for the 2021 budget and the 2020 SFTAS eligibility criteria.

NAN reports that the Ministry of Finance, Budget and National Planning along with the NGF provided technical assistance in the form of advice and capacity building training for budget officials in all 36 states.

It is about helping States in the process of domestication. (NOPE)


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