Thursday, April 22, 2021

FG to states: Domesticating NCoA, mandatory for 2021 performance-based grants

Headline

tiamin rice

The Federal Government has urged state governments to rededicate efforts towards domesticating the National Chart of Account, NCoA, to qualify for the 2021 performance-based grants.

DAILY NIGERIAN reports that the grant is under the States’ Fiscal Transparency Accountability and Sustainability, SFTAS, Programme for Results 2020 Annual Performance Assessment, APA, and COVID 19 related Disbursement Linked Indicators, DLIs, due in 2021.

SFTAS is a $1.5 billion programme for results supported by the World Bank, which aims to strengthen fiscal governance at the state level.

Speaking while declaring open a one-day NCoA Sensitization Workshop organized by the Nigeria Governors’ Forum, NGF, for the Independent Verification Agent, IVA, the National Programme Coordinator, NPC, of the SFTAS Programme, Stephen Okon, said it is necessary for accessing the most coveted grant.

READ  Kebbi workers suspend indefinite strike
READ  Gov. Sani-Bello receives Kagara school students, others after release by captors

According to him, while some states have properly domesticated the NCoA in the past, many are still struggling to accurately report according to the set requirements.

He noted that to assist States with the domestication process, the Federal Ministry of Finance Budget and National Planning, FMFBNP, in collaboration with the Nigeria Governors’ Forum, NGF, has provided technical assistance in the form of advisory and capacity building training for budget officials across the 36 States.

The exercise which began with a series of sensitization workshops in October 2020 was succeeded by hands-on technical budget walk-through workshops which ran till the end of January 2021.

READ  NNPC diversifying portfolio beyond oil assets – Kyari

This was supported by the dissemination of carefully designed reporting templates and self-paced video tutorials on NCoA domestication.

Speaking in the same vein, the Director-General of NGF, Asishana Okauru explained that “the objective of the collaboration is to ensure that no State is left behind.

Every State should get the support it requires to deliver on the agreed reforms.”

Mr Okauru announced that 36 states were currently adjudged to have met the eligibility criterion of preparing their FY19 audited financial statement in accordance with the International Public Sector

READ  238,868 Nigerians received MSMEs survival fund so far – Project Office
READ  In new audio, Shekau blasts Gumi for negotiating with bandits

He adds that in the coming months, the Independent Verification Agent will be verifying States’ compliance with the NCoA requirement for the FY 2021 budget and the 2020 SFTAS Eligibility Criteria.

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

cosgrove