The Accountant General of the Federation (AGF), Mrs. Oluwatoyin Madein, has disclosed that capital budget releases for Ministries, Departments and Agencies (MDAs) for 2024 fiscal year will commence next month.
She made this disclosure on Thursday at a one-day Stakeholders interaction/sensitization session on the revised policy on cash management and bottom-up cash planning held in Abuja.
Madein explained that the capital releases for the year 2023 was supposed to end on the 31st of March but there were pending payments which needed to be completed, revision of policy of the new cash management policy
“The 2023 capital budget releases was expected to end on the 31st of March 2024 but at the end of March, cash plan for 2023 was still being uploaded so we decided to make calls on March 15 which we treated already and that of March 21st is what we are still on.
“However, we have compiled all payments for capital releases for 2023 so we can close and commence for 2024. As soon as we close this Programme, we will start calling for the uploading of payments by MDAs for the year 2024. We expect that by 15th May we will commence uploading the cash plan for 2024”, the AGF added.
She pointed out that the workshop became imperative to aggregate inputs from MDAs on how to make the revised cash management policy effective and transparent
Speaking at the forum, the Minister of Finance and Coordinating Minister of the economy, Mr. Wale Edun, explained that the economy was at a stage of rejuvenation, adding that “President has directed that financial dealings have to be transparent which is why the workshop is critical.”
