Protesting workers of the Federal Ministry of Finance continued their siege at Abuja headquarters of the Ministry yesterday on the day two of their protest. Checks by our correspondent showed that, the target of protest, Minister of Finance, Mrs. Kemi Adeosun, deliberately stayed away from office yesterday as angry workers sustained their protest that began Monday morning .
They resumed the protest yesterday morning but suspended it at about 4pm in the evening when the ministry’s main gate was opened. A very reliable source in the ministry said the minister will resume work this morning ( Wednesday) and she will address the staff. Asked if the protest has not caused the seeming delay in conveying the monthly Federal Account Allocation Committee( FAAC) session where federation funds are approved for sharing between three tiers of government, the source, who craved for identity protection, denied the protest had any untoward impact on FAAC.
The workers embarked on the protest to demand for payment of N1.2 billion allowance, over time allowance and restoration of over time allowance. Meanwhile, to demonstrate that, government finances were not shrouded in secrecy, the Federal Government has elected to publish in full , how the nation’s public funds have been dispensed.
Adeosun gave the commitment yesterday at a two-day workshop on International Public Sector Accounting System (IPSAS) in Abuja, adding that, government would put transparency into practice by publishing its finances. Adeosun was represented by Ministry’s Director (Special Projects) in charge of the continuous audit exercise, Mr. Mohammed Dikwa.
She said: “The financial statements of government will henceforth provide full information and absolute disclosure of material elements in public expenditure. The commencement of IPSAS Accrual Basis of Accounting will place Nigeria amongst the comity of nations that institutionalize transparency and accountability in finance”.
However, the minister lamented that “presently about 70 per cent of the monthly revenue inflow into the Consolidated Revenue Fund (CFR) is being spent on recurrent expenditure”, a development she noted will not free the much needed resources for improving the standard of living.
