FG cuts Ministers' reimbursable imprest to N700,000, tightens financial controls across MDAs

Contributing sentiments towards policy:

57% : The move is also part of broader reforms aimed at enhancing fiscal discipline, reducing leakages and ensuring value for money in government spending.
57% : Treasury inspectors will monitor implementation throughout the year, while accounting officers and expenditure controllers will be expected to ensure that procurement and imprest management processes comply fully with established regulations.
55% : The OAGF said the measures were introduced in accordance with Financial Regulation 1003 and are aimed at promoting accountability, transparency and prudent management of public resources.
53% : Imprest, which is designed to cover routine and urgent official expenses, has often come under scrutiny in audit reports and oversight reviews over concerns relating to accountability and compliance with financial regulations.
53% : What's being said According to the circular, accounting officers across government institutions are required to ensure strict compliance with financial regulations governing the management and retirement of imprest accounts.
49% : Main story The Federal Government has introduced stricter financial control measures across Ministries, Departments and Agencies (MDAs), including a reduction in the maximum reimbursable imprest available to ministers and tighter monitoring of public expenditure.
40% : "Any breach of the regulations in the operation of imprest accounts shall lead to the withdrawal of the right to issue any imprest by the affected accounting officer, and appropriate sanctions shall be applied accordingly," the circular stated.

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