… Presents Recognition Award to Sanwo-Olu, Others
Lagos State Government has been commended by the Association of Chartered Certified Accountants (ACCA), for sponsorsing the professional training of over 800 Accountants within its employ as International Public Sector Accounting Standards (IPSAS) Certified Practitioners.
The Association also recognised the Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, Commissioner for Finance, Dr. Rabiu Olowo and Accountant-General, Dr. Muritala Abiodun, among others, for their laudable contributions to professional accountancy as well as enabling the adoption of IPSAS.
Speaking at the ACCA Recognition ceremony for the State Government held recently in Alausa, Ikeja, the Honourable Commissioner for Finance, Dr. Rabiu Olowo said that the investment in capacity development of the accountants was as a result of the determination of the State Government to standardise its finance and accounting processes to meet acceptable global practices.
He described the recognition as a significant one, saying that the acknowledgment by ACCA attests to the State Government’s continuous training, education and capacity building for its employees.
Olowo reaffirmed the commitment of the State Government to capacity training for employees, especially in the area of retooling the capacity of accountants for effective Public Finance Management (PFM).
Noting that Lagos is ahead of other States in the area of IPSAS compliance, the Commissioner maintained that the performance assessment of government, as a whole, relies largely on an effective PFM and stressed that everything in government, be it health, agric, tourism etc. begins and ends with finance.
Receiving Governor Sanwo-Olu’s Special Recognition Award which was presented by the Head of ACCA, Nigeria, Tom Isibor, the Honourable Commissioner for Establishments, Training and Pensions, Mrs. Jibola Ponnle, thanked the leadership of ACCA for recognising what Lagos State Government is doing for the finance sector.
She restated the Governor’s commitment to capacity development of the entire workforce of the State, noting that Governor Babajide Sanwo-Olu, since the inception of his administration, has been positively disposed to the various innovations introduced by the Ministry of Establishments Training and Pensions for the capacity development of all Lagos public servants.
Also speaking, the Accountant-General and Permanent Secretary, State Treasury Office (STO), Dr. Abiodun Muritala, said that the State Government had since embraced paperless transactions, adding that significant improvement is now noticeable in the way and manner government finances are managed.
The Accountant General emphasised the need for Public Finance Management to evolve such that the State Government can easily respond quickly, effectively and transparently to emergencies and during crises in view of the experience garnered during the onset of the COVID-19.
While pointing out that PFM is very significant and key to the quality of governance that can be delivered, the Commissioner called on Accountants to study the strategic direction of the Government and understand the value proposition, including the objectives, of all MDAs for proper financial management.
Enumerating the benefits of digital transactions, Muritala stated that the digitalisation of payment and receipts would bring about a reduction in human interaction and avoidable bureaucracies.
As part of the recognition by ACCA, an employee of the Lagos State Government under the State Treasury Office, Taiye Adedeji was presented with the ACCA advocate of the year award in Nigeria for standing out among other ACCA professionals from both the private and public sectors across the country.
