FG’ll finance 2017 budget with recovered funds – Buhari

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President Muhammadu Buhari has said that the federal government will use money recovered from treasury looters to partly finance the 2017 Budget.

The president ,however, added that such recovered funds are those without legal encumbrances.

Buhari spoke in Abuja on Tuesday during the 22nd Annual Conference of Certified National Accountants under the auspices of the Association of National Accountants of Nigeria (ANAN).

The president was represented at the occasion by the Accountant-General of the Federation, (AGF), Alhaji Idris Ahmed.

Buhari said, “My Administration has practically done much in delivering on its core focus of diversifying the economy. Part of the stolen funds recovered is being used by government to finance the 2017 budget.

“Power generation has peaked at an all-time high of 7,001 Megawatts in the third quarter of 2017.

“A firm implementation of the Treasury Single Account (TSA) since September 2015 has significantly enhanced transparency in the Federal Government’s Public Financial Management System.”

The ANAN Chairman of Council, Alhaji Shehu Usman Ladan, had earlier spoke on the need for accountants to live up to expectations.

He said, ” The Accountant is key, we are calling on our members to increase their integrity quotient. As an association, we are strengthening our discipline mechanism to ensure that members found wanting do not go unpunished.”

He also urged the federal government to implement the law on the submission of audited accounts by all registered companies and challenged the federal government to invest some of the recovered funds in the overall interest of Nigerians.

On the fight against corruption, Ladan pledged his members’ willingness to assist the government in tackling the monster.

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Afolabi Adesola is a Nigerian based financial journalist that has the passion for demystifying figures to tell clearer business stories. During her free time, she reads journals and novels. She loves watching movies, and Nigerian sitcoms. She co-runs a mini NGO #ProjectSALT, setup in support of today’s African Lady.

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