BusinessDay

Akwa Ibom presents 2020 audited financial statement for public scrutiny

In a move to involve the citizens in budget processes and in the implementation of projects and programmes, Akwa Ibom government has presented its 2020 audited financial statement to the public for scrutiny as part of efforts to promote transparency and accountability in the management of funds.

At a one-day citizens accountability report on the audited financial statement for 2020 held in Uyo, the state capital, the state government in presenting the report explained how resources were applied during the year in all the sectors.

Linus Nkan, commissioner for finance who spoke at the consultative meeting said the presentation was in line with the World Bank requirement to promote transparency in government and to give the citizens a voice in the governance process.

Akwa Ibom

Nkan who explained the directive by the World Bank that government should periodically render accounts to the people, said the state government has given adequate attention to the issues of accountability adding that Akwa Ibom is among the few states to have publicly presented its audited financial statement for scrutiny.

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“The twin issues of transparency and accountability have been given priority by the state government in its commitment to ensure that the resources accrued to the state are used to serve the people.

“We are indeed showing you what we have done and the majority of the people have agreed that the state government has shown efficiency in the management of resources,’’ he said.

In his remarks, the state auditor general, Monday Akpan said the financial statement has been simplified for ease of Undestanding .

He said the state government has made laws on fiscal responsibility, public procurement and audit matters to encourage accountability and lauded the people for the turnout.

According to him, the large turn out was an indication of the importance they attached to accountability and transparency in governance.

“The concept of accountability in this case is a requirement of the States Fiscal Transparency, Accountability and Sustainable (SFTAS) Programme for Results (PforR) aimed at giving citizens of the state a voice in the evaluation of government audited financial statements

for a particular period with a view to providing constructive input for improved service delivery,” he said.

The 2020 budget of the state was estimated at N597.74 billion and was revised twice due to COVID-19 pandemic which brought the total state’s budget size to N366 billion but was said to have been hampered by poor performance in which N220.9 billion, about 36 percent was released under the capital vote.

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