The Government Integrated Financial Management Information System (GIFMIS) is an IT based system for budget management and accounting that is being implemented by the Federal Government of Nigeria to improve Public Expenditure Management processes, enhance greater accountability and transparency across Ministries and Agencies. GIFMIS is designed to make use of modern information and communication technologies to help the Government of Nigeria to plan and use its financial resources more efficiently and effectively.

GIFMIS will cover the entire financial management cycle including:

• Budget preparation and execution
• Treasury management and reporting
• General ledger and financial reporting
• Procurement, including Commitments, purchase orders, Maintenance of a central supplier register and Support for e-procurement
• Receipting, Accounts Receivable and Revenue Management
• Payments and Accounts Payable
• Inventory and Stock Control
• Fixed Asset Management
• Project accounting

GIFMIS implementation will enable the Federal Government of Nigeria process financial transactions faster and at a much lower cost. GIFMIS will also improve the reliability of management information. This will increase the speed at which decisions are taken and services delivered to the general public. It will also reduce opportunities for corruption and ensure safety of public resources.