1. BUDGETING AND BUDGET MANAGEMENT REFORMS
  2. CASH MANAGEMENT REFORMS AND TREASURY SINGLE ACCOUNT
  3. NEW CLASSIFICATION SYSTEM AND PUBLIC ACCOUNTABILITY
  4. ADOPTION OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS
  5. ACCOUNTING TRANSACTION, RECORDING AND REPORTING SYSTEM (ATRRS)
  6. MODERNIZATION AND THE INTERNAL AUDIT
  7. HUMAN RESOURCES DEVELOPMENT

1. BUDGETING AND BUDGET MANAGEMENT REFORMS

1.1 BUDGET REFORM OBJECTIVES

The role of budget in an economy cannot be overemphasized. A budget is an important instrument of national resource mobilization, allocation and economic management. It is an economic instrument for facilitating and realizing the vision of the government in a given fiscal year. If a national budget is to serve as an effective instrument for promoting growth and development of a country, there should be proper linkage and management of all the stages of budgeting. A budget has to be well-designed, effectively and efficiently implemented, adequately monitored and its performance well evaluated. With regard to Nigeria’s budgets over the years, there is a sharp contrast as expected, between budgeting under military regimes and budgeting under civilian administration. Whereas the former was ad hoc and beclouded with arbitrariness, the latter is often subjected to scrutiny at various stages by the executive and legislative arms of government before the budget is finally approved.


In Nigeria, the reform of the budget process was a major plank of the Public Service Reform (PSR) embarked upon since the inception of civilian administration in 1999. Prior to this time the country was under military rule during which the budget process was thrown into total disarray with some noticeable defects. Thus, the objectives of the budgetary reforms were to

  1. reduce the excessive share of the budget being allocated to the public service by way of personnel and overhead costs (estimated at over 60%),
  2. reduce the cost of governance in general,
  3. improve resource management by curtailing wasteful expenditure and increasing the level of productivity and efficiency, and
  4. ensure budget discipline (adherence to limits).

1.2 REFORM STRATEGIES AND IMPLEMENTATION PROCEDURE

The budgetary reforms which commenced in 2000 have five major planks. They are administrative procedures, budget preparation, management of government spending, budget implementation as well as monitoring and evaluation. The management of government spending is achieved through limits imposed by established fiscal rule. The fiscal rule is a statement of limits on disposable revenue projections and fiscal deficit over a budget period.  In the case of the Federal Government, it is oil price based using projections of oil prices that are lower than the expected international price of oil over the budget period. It also focuses on savings from the Federal Government debt deals. The oil price-based fiscal rule de-links government expenditure from the price of oil by budgeting at a conservative oil price. For instance, in 2004, the government budgeted at a price of US$25, US$30 in 2005, US$35 in 2006 and US$40 per barrel of oil in 2007. This has enabled government to save every dollar above the budgeted price and there is a mechanism in place to ensure judicious use of the savings. The oil price-based fiscal rule and Medium-Term Expenditure Framework (MTEF) in budgeting have significantly enhanced public expenditure management and macro-economic stability.
As part of the budgetary reform measures, steps were taken in 2005 to develop a medium-term expenditure framework which places emphasis on multi-year (three years) budgeting. The revenue estimates were also based on a Medium Term Revenue Framework (MTRF). In Nigeria, the MTEF seeks to

  1. improve macro-economic balance by developing a consistent and realistic resource framework;
  2. improve the allocation of resources to strategic priorities among and within sectors;
  3. increase the commitment to predictability of both policy and funding for better planning by MDAs and increased programme sustainability; and
  4. provide MDAs with a hard budget constraint and increased incentives for efficient and effective use of funds.

In Nigeria, the adoption of the MTEF at the federal level derives from the need to

  1. achieve the right balance between economic development and macro-economic stability
  2. direct the bulk of federal spending towards capital spending on the nation’s priorities and ensure that budget holders are accountable for the funds allocated to them and
  3. improve the value of federal spending by adding activity and output based budgeting.

That is, agreeing in advance the activity to be performed and the expected output and then comparing this with actual output and explaining the variances.

As part of the reform, ministries, departments and agencies (MDAs) of government were given “expenditure envelopes” from which they were to meet all their needs and deliver public goods and services. The allocation of such envelopes was done by the Budget Office of the Federation, working with the Minister of Finance and with the approval of the President following consultations with relevant stakeholders (the National Assembly, Organized Private Sector, Civil Society, the Public Sector and the Political Class). In allocating the envelopes, the major criteria were the size of each MDA’s payroll and priority level accorded to the services to be delivered by each MDA against the background of the priorities of the Federal Government as documented in NEEDS, the MDGs, Vision 20:2020 and stakeholders’ inputs.

The sectoral component of the medium term expenditure budgeting was the medium-term sector strategy (MTSS) process. Starting from 2005, MDAs were requested to develop and articulate Medium-Term Sector Strategies consistent with NEEDS and the MDGs. The process involved

  1. clear articulation of goals and objectives by MDAs against the background of the overall goals of NEEDS, Vision 20:2020 and the attainment of the MDGs,
  2. identification and articulation of key projects and programmes necessary for the achievement of their goals and objectives bearing in mind their expenditure envelope,
  3. costing of the identified key initiatives in a clear and transparent manner,
  4. phasing of the implementation of the initiatives over the medium-term (three years),
  5. defining the expected outcomes in clear measurable terms and
  6. proper linkage of expected outcomes to their objectives and goals.

The MTSS became a major policy document against which budget proposals of MDAs were evaluated.

It should be noted that the implementations of all the above mentioned reform strategies is a continuous process and still ongoing. The Budget Office of the Federation is at the stage of adopting a Performance Based Budgeting System where resources will be allocated to MDAs based on their ability to utilize and deliver the promised deliverables to the Nigerian people.

Key Budgetary Reform Strategies in Nigeria

 

MAIN ASPECTS OF BUDGETARY REFORM

KEY REFORM STRATEGIES

1

Administrative Procedures

-Establishment of the Budget Office of the Federation headed by a Director-General who also doubled as Special Adviser to the President on Budget matters

2

Budget Preparation

-Medium-Term Revenue Framework

-Medium-Term Expenditure Framework

-Fiscal Strategy Paper

– Medium-Term Sector Strategies

-Interactive Sessions

-Annual budgets with projects and programmes linked to medium-term plans

3

Management of Government spending

-Oil-price-based fiscal rule,

-Debt/GDP limit,

-Aggregate expenditure limit,

-Limits by major expenditure heads, MDA limits (envelopes).

4

Budget Implementation

-U­­se of Cash Management Committee to better manage the release of funds

-MDA now granted flexibility to manage the release of their capital budgets subject to set limits

-Timely and predictable release of capital budget

-Introduction of electronic payment process for payroll

-Publication of releases on BOF website

5

Monitoring and Evaluation

-Timely monthly returns to OAGF by MDA

-Publication of budget performance report

-OPEN initiative led by OSSAP-MDGs

-Involvement of Civil Society in budget monitoring and evaluation

 

2. CASH MANAGEMENT REFORMS AND TREASURY SINGLE ACCOUNT

Cash Management reforms are aimed at establishing efficient and effective Government cash management system that will enhance service delivery in a transparent manner. This system is defined in the newly developed cash management policy which provides strategies that will ensure that scarce cash resources are well controlled and managed such that the right amount of cash is available at any point in time to meet obligations as and when due, minimize cash holding and associated costs and invest funds not immediately required. 

The need for policy in this area arose from the observed deficiency in the present cash management system characterized by: multiple bank accounts with idle funds, poor cash planning resulting in low draw-down of funds which invariably affect budget implementation, funds releases are not tied to the needs and priority of Ministries, Departments and Agencies (MDAs), uncoordinated borrowing, etc. 

In order to strengthen the system such that funds would always be available as and when needed and that there is adequate plan to meet any resource gap while investing surplus funds, policy is imperative to guide operations of all MDAs. To achieve this objective, the Treasury is expected to manage the cash planning of government with inputs from MDAs. Consequently, the following have been considered and approved:

  • The Treasury shall take responsibility for the effective and efficient management of all public funds. A Treasury Single Account (TSA) shall be maintained at Central Bank of Nigeria with each MDA responsible for the management of its allocations but effecting payment through the TSA.
  • Government cash balances at any point in time shall be obtained the TSA for effective planning and decision making. A General Ledger System shall be set up along TSA for posting of payments and commitments to facilitate timely financial reporting.
  • Medium Term Expenditure Framework shall guide the preparation of budget proposals. The proposals shall adopt performance based budgeting and estimates are to be based on a sound and comprehensive revenue forecast that is realisable;
  • MDAs shall prepare annual cash plan showing their monthly cash requirements in line with the appropriation, needs and priority for consolidation into Federal Government annual cash plan. A Critical Path Analysis shall be prepared in respect of planned projects, activities to be carried out, timing and cost implications to support the cash plan.
  • Cash flow projection shall be prepared by the Accountant-General of the Federation based on the appropriation, approved cash plan and priority of the Federal Government.
  • There shall be a Ministerial Cash Management Committee chaired by the Minister of Finance to approve cash allocations to MDAs based on cash plan and cash flow projection upon which warrant releases are to be issued.
  • Budget performance reports shall be taken into consideration in subsequent cash allocations and warrant releases to MDAs.
  • Each MDA shall have its own Cash Management Committee headed by the Minister of that Ministry to consider and approve the utilization of allocated cash.
  • Debt management shall be integrated into the cash management system such that borrowing by the Debt Management Office is geared towards meeting the financing gap stated in the cash flow projection.
  • Budget proposal by the Executive shall be submitted to the National Assembly not later than 90 days to the end of the current fiscal year to enable its passage before the New Year.
  • The Executive Arm of Government shall ensure full implementation of the Appropriation Act. Incentives in form publicity and commendation shall be provided for MDAs with good performance while poor budget execution shall attract sanctions.
  • E-Payment system  shall be adopted for settlement of all government transactions, supplies, salaries and entitlements of employees, contracts, etc;
  • Donor funds and internally generated revenues of MDAs shall be factored into MDAs’ budget as financing items for completeness, accountability and proper management of resources;
  • All government suppliers shall register with the Bureau of Public Procurement (BPP) to provide Government suppliers’ data base. The BPP shall provide average price lists of items commonly consumed by government agencies as a guide to public procurement;
  • There shall be mandatory Tax Identification Number (TIN) for government suppliers to improve revenue generation and collection ;
  • All uncompleted projects or other obligations of MDAs at the end of Fiscal Year shall be rolled-over and included in the following year appropriation;
  • All unspent balances of cash allocated to MDAs after commitments entered into the TSA for both recurrent and capital expenditure shall lapse automatically and the balances returned to the Consolidated Revenue Fund Account for appropriation by the National Assembly.
  • Investment of Government Funds shall be centrally coordinated by the Office of the Accountant-General of the Federation in liaison with the Central Bank of Nigeria. Any amounts held in the TSA not immediately needed shall be invested in interest yielding instruments.

The approval of the cash management policy document by the Federal Executive Council for implementation will strengthen Federal Government cash management for better budget implementation and service delivery.

3. NEW CLASSIFICATION SYSTEM AND PUBLIC ACCOUNTABILITY

In preparation for the introduction of GIFMIS, a new multi-dimensional Chart of Accounts (COA) has been designed. Implementation of the new COA commenced with the 2011 budget and a Treasury Circular has been issued directing Ministries, Departments and Agencies (MDAs) of government to adopt it in execution of the budget.

The new classification system is made up of 6 segments, namely: Administrative, Economic, Functional, Fund, Program and Geographic segments. The COA provides a robust mechanism for the classification of public resources under the budget as well as tracking receipts and payments during budget execution. In particular, the new classification system seeks to support one of the key deliverables of the government’s Economic Reform and Governance Project (ERGP) which is the “adoption of more transparent and modern economic and financial management systems and processes that are less prone to corruption”.

The new classification system supports all extant reporting and disclosure requirements under the Nigerian Public Finance Management (PFM) legal framework. In addition, it has been designed to facilitate compliance with major international public sector accounting and reporting standards.

It is generally accepted that the ongoing PFM reform initiatives must, amongst others, provide an appropriate mechanism for a more transparent and accountable PFM system. In this regard therefore, the COA has been structured to provide a strong foundation for a complete, accurate and detailed classification of all governments receipts and payments in such a manner that will make for easy adoption of all mandatory IPSAS cash basis reporting and disclosure requirements such as External Assistance, Foreign Exchange transactions, consolidation of accounts of controlled entities, full disclosure of cash holdings, etc.

Furthermore, the COA is fully compatible with the Government Finance Statistics Manual, (GFS) and has adopted in full the United Nations COFOG system.

A sound PFM system also requires that government meets key PEFA indicators. In this regard, the COA has provided a solid basis for meeting three PEFA indicators:
PI – 5: Classification of the budget using GFS standards i.e. Administrative, Economic and Functional classification or comparable classification
PI – 6: Summarized budget data for both revenue and expenditure according to the main heads of the classifications used (ref. PI-5), including data for the current and previous year.

The introduction of Program segment is also aimed at meeting PEFA indicator 12 on policy based budgeting.

4. ADOPTION OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS

A decision was taken to adopt IPSAS for financial reporting for the federal government of Nigeria. As a first step, a gap analysis was undertake

4.1 Objectives of Undertaking IPSAS Gap analysis

  • The conduct of the IPSAS gap analysis is with a view of enhancing the quality and transparency of public sector Financial Reporting and strengthening public confidence in Public sector Financial Management. The adoption of IPSAS by Governments will also improve the quality and comparability of Financial information reported by Public sector entities around the world
  • The conduct of the gap analysis considerably helped in improving our Financial Reporting System, which helped in identifying the existing gaps between our existing Financial Reporting System and the international Standard. Hence facilitating our efforts to bridge the identified gaps, accordingly.
  • The gap analysis study that was undertaken by the Federal Government of Nigeria is an attempt to benchmark Government Accounting in Nigeria with Cash IPSAS to identify the gaps.  It is intended to identify the specific departure of Government Accounting system from cash basis IPSAS and chart a transition path for adoption of Accrual based IPSAS.
  • The study attempted to assess whether the country should adopt a limited version of the standards, as the processes of developing the standards have already considered any acceptable options that can be incorporated into the text of the standards.

4.2 Undertaking the IPSAS Gap analysis

  • Collection of background information relating to the various laws and documents relevant for the work of the committee.
  • Collection of information relating to assessment of cash basis diagnostic tool 1 and 2 which led to the designed questionnaire 1 and 2.
  • There was a review of the questionnaire and interviews with the major stakeholders.
  • The filled questionnaires and diagnostic tools were analyzed and brain storming sessions were held to discuss the findings.
  • The committee tested the application of cash IPSAS to the Federal Government Financial Statement.
  • Based on this, the committee then put up an interim draft report pending the out-country analytical work and international study tour to some countries that are fully compliant to cash basis IPSAS and have successfully migrated to Accrual based IPSAS.
  • A sensitization workshop was held with the major stakeholders like the Nigerian Accounting Standards Board, Accountants-General and Auditors-General of the states in Nigeria, members of the Finance and Public Accounts Committees of the two chambers of the National Assembly, office of the Auditor-General for the Federation, Budget office of the Federation, Fiscal Responsibility Commission, the Directors Finance and Accounts ,Heads of Account departments  and relevant designated officials in the Ministries, Departments and Agencies. The recommendations made at the end of the workshop helped to ensure a hitch free programme to bridge the identified gaps.

4.3 Status of Implementation

  • The office of the Accountant-General of the Federation of Nigeria (OAGF) has worked out an itemized action plan on various items as the identified gaps. The most significant issues are entity consolidation and timeliness of Account submission.
  • The Federal Government would need to consolidate the cash flows of all entities that it controls (including GBEs) with its financial statements. For practical convenience the consolidation of GBEs will be taken up in the long run while consolidation of all other entities is being immediately embarked upon.
  • For improving the timeliness, the time taken in Ministries, Departments and Agencies of Government including at the office of the Accountant-General of the Federation of Nigeria for finalization of financial statements has been be crashed significantly. This is being facilitated through the use of Information Technology, Accounting Packages like the ATRRS and the Excel template initiatives.

5. ACCOUNTING TRANSACTION, RECORDING AND REPORTING SYSTEM (ATRRS

  • It is an ICT based Accounting Software application which facilitates the input of Accounting Transactions, its reconciliation and the generation of Standard Accounting Reports that meet required Standard of the Treasury.
  • At the point of its conception, It was envisaged that the full deployment and development of the GIFMIS will not be possible within a short time hence the need to have a bridge which will link up with the ultimate objectives of the GIFMIS. This will thus be a stop gap solution to GIFMIS.
  • The implementation of the Accounting Transaction Recording and Reporting System (ATRRS) has opened the doors widely for the Treasury to appreciate the essence and benefits derivable from the computerization of Government Accounting System.

5.1 Implementation strategy

  • The software development started with version 1.1 way back in January, 2005.There has been rapid updates and upgrades since then in the system. From this initial version, it was upgraded to versions 2.1, 2.2, 2.3 and 2.4 all on access based platform.
  • Due to the need to have a more robust and reliable database platform to run the system, an SQL version of the software was developed which allows for a multiuser facility. The LAN version 3.0 then came on board. Presently, due to the need to incorporate the multidimensional Chart of Accounts of GIFMIS, an upgrade was again made to ATRRS LAN version 3.1 which is presently being rolled over to the MDAs. This new version is expected to ensure seamless capturing of accounting transactions thus facilitating ease of reconciliation of the Account leading to timely production and submission of reports from Line Ministries, departments and Agencies (MDAs) and Federal Pay Offices (FPOs) for OAGF for consolidation and production of Annual Consolidated Financial Statement of the Federal Government.

5.2 Benefits of the ATRRS Accounting Software

  • Familiarize the workforce with the use of IT equipment at an early stage of Government integrated Financial Management Information System (GIFMIS) implementation, which would enable a smoother transition to the GIFMIS Software.
  • Potentially reduce training period and requirement for GIFMIS.
  • Potentially reduce GIFMIS implementation cost.
  • Shorten Business Process re-engineering period (i.e. it is faster to transit from a semi automated process than a manual process.
  • Facilitates ease of reconciliation of the various bank Accounts.
  • Ensures clean and accurate data will be available for migration in to GIFMIS.

5.3 Status of Implementation

  • The software has been successfully deployed to over 104 Ministries, Departments and Agencies in the country.
  • Training programme for the new ATRRS LAN version 3.1 software which will facilitate the use of the new multidimensional GIFMIS Chart of Account was successfully held in April, 2011 with over 620 staff from the MDAs participating.
  • The Installation of the new version in the MDAs and the on the site training of the staff in the MDAs have commenced in earnest.
  • The year ended 31st December, 2010 Consolidated Financial Statement of the Federal Government is presently being finalized before submission to the Auditor-General for the Federation for his Audit examination.

6. MODERNIZATION AND THE INTERNAL AUDIT

As an integral component of the Government’s financial management and control framework, an effective internal audit helps to: – 
a)    Improve control over public expenditure management. 
b)    Ensures compliance with government’s policies and laid down procedures.
c)    Assist to secure accountability and transparency in government financial activities.
In the light of the above the Accountant-General of the Federation and the Government of Nigeria have recognized that the internal audit function is using out-of date audit methodologies and is in need of modernization.
The main objective of the modernization plan is to suggest measures to bring up the level of public sector internal audit with a view to ensuring that  the government internal audit function adds value to government’s operations, thereby contributing to the success of the Economic Reform and Governance Project(ERGP).

In view of the above a Consultant was hired by the Federal Government to deliver on following urgent modernization activities outlined below: –

1.1    Rollout new audit methodologies and audit manual via the training courses prepared by the Consultant.
1.2    Add performance audits and financial audits to the planned audit activities
1.2    Establish separate internal audit professional cadre within the FGN.    
2.2    Promote professionalism among the internal auditors.
2.3    Develop separate human resources strategic plan for the internal audit function.
2.4    Develop written job descriptions for all categories of internal audit position.
2.5    Develop and implement annual individual training plans for all internal auditors. 
3.1    Implement and enforce use of new internal audit manual across the FGN.
3.2    Develop and promote a separate code of ethics for internal auditors.
5.1    Develop and implement a communication plan.
6.1    Provide internal audit with legal access to all assets, books and records of all arms of government.
6.2    Provide for the functional independence of internal audit units in MDAs/FPO/PPOs.
6.3    Restructure the Audit Monitoring Department.
6.4    Amend the Financial Regulations/Financial Act.
6.5    Establish independent Government Audit Committee.
7.1    Promote use of office efficiency tools such as Word and Excel.
7.2    Provide internal auditors with access to ATRRS, GIFMIS and IPPIS.
A key element of the modernization strategy for the Federal Government of Nigeria (FGN) internal audit function is the design and delivery of the following training courses for all the internal auditors in the service.
Risk-based auditing, which will include sub-modules in

  • Financial audit
  • Performance audit
  • Compliance audit
  • Value for Money audit etc.
  • Auditing in information technology (IT) environments, which will include sub-modules in
  • IT system controls
  • Computer-Assisted Auditing Techniques (CAATs)
  • Electronic Working Papers (EWP)
  • Training of the Trainers (TOT)
  • Quality Assurance (QA) and audit supervision using EWP

The consultant has just submitted his final report.

6.1 Implementation

The first and the second batch trainees made up of seventy-one (71) internal auditors have just completed their training on Risk Based Audit and CAATs. Implementation of the remaining aspect of the consultant recommendation and rollout activities have commenced in earnest.

7. HUMAN RESOURCES DEVELOPMENT

Government recognises that building capacity of human resources is imperative for effective delivery of services and to support various public financial management reforms. As part of the Economic Reforms and Governance Project (ERGP), human resources development is a focus of the modernisation of the Federal treasury Academy.

7.1 Restructuring of the Federal Treasury Academy (FTA)

The responsibilities of the office of the Accountant-General of the Federation and the office of the Auditor-General of the Federation include ensuring that adequate standards of accounting and auditing and professionally qualified personnel are maintained. This is done through systems of appropriate training and capacity building which should be carried out largely by the FTA. In the light of the needs to adhere to global standards and the reform strategy of Government, the FTA requires restructuring to prepare it for the role that it will play in achieving sound financial practices in the future. The restructuring is supported by the World Bank under the Economic Reform and Governance Programme (ERGP) which acknowledges the importance of training public financial management practitioners. The modernisation of the FTA includes development of a new curriculum and twining it with another PFM Institute.


In furtherance of the objective of modernising the FTA, it was decided that there should be a twining arrangement between the FTA and the CIPFA and ICAN for the purpose of agreeing a Qualification Framework and syllabus that would allow reciprocal acceptance with CIPFA either by levels or by subjects, quality assurance arrangement for the examinations of the FTA and advice on development strategy and administrative structure for the FTA. This identifies with the SCDI philosophy for a Qualification Framework (QF) for the public sector tailored to the circumstances of Nigeria.

7.2 Scheme for the Professionalization of PFM in Nigeria and the modernisation of the Federal Treasury Academy

In July 2009 the World Bank and the Accountant-General of the Federation requested the CIPFA to draft a professionalization scheme.
The CIPFA is working with ICAN to produce the curriculum and syllabuses leading to a PFM qualification to be awarded jointly by the CIPFA and ICAN. The qualification will be based on CIPFA’s own international qualifications with a local module reflecting PFM practices in Nigeria.

7.3 GIFMIS and the Role of the Federal Treasury Academy

With the roll out of the GIFMIS System, it is expected that the FTA would play an important role in ensuring that accountants in the Public Services are trained in GIFMIS applications. The FTA is designed to handle such training. FTA is championing the professionalization of public financial management in Nigeria.
With the general global awareness of the importance of public financial management and the introduction of international standards in financial accounting and reporting in the public sector, the World Bank initiated the Staff Capacity Development Initiative (SCDI). Thus, the modernisation of the Federal Treasury Academy was identified as a component of the Economic Reforms and Governance Programme (ERGP).

7.4 Restructuring of the Federal Treasury Academy (FTA)

The responsibilities of the office of the Accountant-General of the Federation and the office of the Auditor-General of the Federation include ensuring that adequate standards of accounting and auditing and professionally qualified personnel are maintained. This is done through systems of appropriate training and capacity building which should be carried out largely by the FTA. In the light of the needs to adhere to global standards and the reform strategy of Government, the FTA requires restructuring to prepare it for the role that it will play in achieving sound financial practices in the future. The restructuring is supported by the World Bank under the Economic Reform and Governance Programme (ERGP) which acknowledges the importance of training public financial management practitioners. The modernisation of the FTA includes development of a new curriculum and twining it with another PFM Institute.


In furtherance of the objective of modernising the FTA, it was decided that there should be a twining arrangement between the FTA and the CIPFA and ICAN for the purpose of agreeing a Qualification Framework and syllabus that would allow reciprocal acceptance with CIPFA either by levels or by subjects, quality assurance arrangement for the examinations of the FTA and advice on development strategy and administrative structure for the FTA. This identifies with the SCDI philosophy for a Qualification Framework (QF) for the public sector tailored to the circumstances of Nigeria.

7.5 Scheme for the Professionalization of PFM in Nigeria and the modernisation of the Federal Treasury Academy

In July 2009 the World Bank and the Accountant-General of the Federation requested the CIPFA to draft a professionalization scheme.
The CIPFA is working with ICAN to produce the curriculum and syllabuses leading to a PFM qualification to be awarded jointly by the CIPFA and ICAN. The qualification will be based on CIPFA’s own international qualifications with a local module reflecting PFM practices in Nigeria.

7.6 GIFMIS and the Role of the Federal Treasury Academy

With the roll out of the GIFMIS System, it is expected that the FTA would play an important role in ensuring that accountants in the Public Services are trained in GIFMIS applications. The FTA is designed to handle such training. FTA is championing the professionalization of public financial management in Nigeria.

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