Afrigather 
Because the Federal Authorities struggles to generate income and handle its rising expenditure, it plans to launch a brand new coverage for public finance administration.
This coverage, known as the Backside-Up Money Planning Coverage, will likely be launched on February Friday for efficient monitoring of presidency spending.
The programme, which takes off the identical day the outdated naira notes will stop to be authorized tender, has been within the works since 2009 when the Federal Authorities initiated a feasibility research to find out the most effective methods to handle its money administration challenges as a part of its Public Monetary Administration reforms.
The Appearing Accountant Common of the Federation, Mr Sylva Okolieaboh, disclosed this in Abuja on Tuesday on the coaching programme on Backside-Up money Planning Coverage for Accountants of assorted Ministries, Departments, and Companies.
In keeping with him, shortly after the pilot roll-out of the Authorities Built-in Monetary Administration Data System alongside the Treasury Single Account in April 2012, the method of implementing an environment friendly money administration system commenced.
Explaining the programme additional, he mentioned, “Backside-up money planning, because the title suggests, is the gathering and aggregation of presidency money wants by means of the person spending models. As a part of the general authorities money administration association, it facilitates the optimum allocation and utilisation of presidency money assets. Different aims are minimising the prices of holding money balances; decreasing danger (operational, credit score and market danger); including flexibility to the methods wherein the timing of presidency money inflows and outflows might be matched; and supporting different monetary insurance policies.
“Implementation of Backside-Up Money Planning will carry extra certainty to finances execution and engender fiscal self-discipline.”
He additionally famous that the Backside-up Money Administration Coverage pointers had been authorized by the Minister of Finance, Finances and Nationwide Planning on June 1, 2020, including that the formal approval of its implementation by the President, Main Common Muhammadu Buhari (retd.) on August 24, 2022, set the stage for its rollout.
