Legal Nigeria

AGF warns treasury managers against corruption, financial mismanagement

The Accountant General of the Federal, Oluwatoyin Madein on Thursday, April 25, warned treasury managers in the country to resist corrupt practices, fraud, and financial mismanagement.

Speaking at the training programme organised by the Chartered Institute of Treasury Management (CITM) in Abuja on Thursday, the AGF, who was represented by the Director, of Special Duties in the PAGE, Alhaji Muhammed Aliyu said there was a need to safeguard public funds and protect the interests of the government and the public.

She said: “We must remain watchful against the threats of corruption, fraud, and financial mismanagement by implementing a strong internal control system and promoting a culture of compliance.”

She said Treasury Managers must imbibe the virtues and behaviours necessary to curtail corruption in the polity.

She said: “Training and professional development are essential in equipping the practitioners with the knowledge and skills necessary to conduct the activities of Treasury Management ethically.”

“Let us seize this opportunity to expand our understanding of ethical principles and best practices, to strengthen our ability to serve the public well. Together, we shall strive to build a future where transparency, integrity, and accountability will be the focus in the management of public finances.

“As professionals, we must resist the temptation of personal interest or undue influence in our decision-making processes. We must always prioritize the public interest above all other interests, even in the face of unpleasant situations or pressure from the public”.

She said ethical conduct in treasury management entailed an extremely large number of principles, which include transparency, honesty, accountability, and fairness.

“We must adhere to these principles seriously, not only to maintain public trust but also to imbibe a culture of integrity and transparency within our organizations.”

She said that as custodians of public funds, we bear a tremendous responsibility to uphold the highest standards of ethics and integrity in our profession.

Registrar of CITM, Olumide Adedoyin spoke of the need for public enlightenment as a key to curbing corruption, saying “Once you create awareness, you must empower professional associations, particularly associations like CITM, ANAN, and ICAN, because where we are going is an evolving journey.

“And along the line, there are gaps that need to be filled, and that is why treasury management becomes important; if you don’t involve treasury management in your financial flow, you are going to lose it.”

Source: The Nation