Financial Prudence: Adopt CBN New National Chart of Account Management, Ayade Tells Local Govt Chairmen

....As C'River Becomes First State To Domesticate Same in Nigeria

By Emmanuel Ulayi | Calabar

Cross River State Governor, Professor Ben Ayade has tasked all the Council Chairmen in the Eighteen Local Government Areas of the state to key into the Federal Government Domestication of New National Chart of Accounts (NCOA) policy to improve transparency, accountability and quality in their public financial management.

Ayade gave the charge in Calabar during a five days workshop for Directors of Finance, Accountants, Budget, Auditors and treasury staff across the 18 LGAs to adopt New National Chart of Accounts policy.

Represented by the Commisioner for International Development Cooperation, Dr Inyang Asibong, Ayade

charged officers of the Local Government Councils to take advantage of the workshop as an opportunity for them to catch up with the New NCOA which is one of the strategies that would ensure uniformity in public financial management.

"Governor Ben Ayade is ensuring that Cross River State sets the pace among States in Nigeria to adopt the New NCOA to improve transparency, accountability and quality delivery of services in line with National and State plans and policies on public financial management.

" The New NCOA is an accounting strategy used by Government at all levels including MDAs and Parastatals to define each class of item for which money or the equivalent is received or spent across the three tiers of Government" said Asibong.

On her part, the Commissioner for Local Government Affairs, Mrs Stella Odey Ekpo, who hosted the event urged all the participants to fully commit themselves to the 5-day high intensity workshop, aimed at providing efficiency in the budget preparation using the New NCOA at the Local Government levels to guarantee realistic budgeting.

According to Ekpo, Local Governments in Cross River will be the first in Nigeria to adopt the NNCOA

Earlier in the opening speech, the Program Coordinator, CR-SLOGOR Project, Mr. Joseph Mbufe, thanked the State Government and the World Bank/European Union for supporting the State to achieve this feat.

The workshop had in attendance the World Bank Financial and Technical Adviser, Mr. Alhassan Bagura while Mr Anthony Ambe, the Quality Assurance Consultant coordinated the technical session of the workshop.