Lagos moves to strengthen financial accountability, trains officers on NCOA
By Olatomiwa Osho
The Lagos State Government has reaffirmed its commitment to strengthening financial accountability, transparency and efficient management of public resources through continuous capacity building for Finance and Accounts Officers across its Ministries, Departments and Agencies (MDAs).
The Commissioner for Finance, Mr. Abayomi Oluyomi, stated this at the opening of a three-day capacity-building programme on Financial Reporting Using the National Chart of Accounts (NCOA) in Ikeja.
Oluyomi described accurate financial reporting as essential to public trust and accountability, stressing that Finance and Accounts Officers play a critical role in ensuring government transactions are properly recorded, classified and reported.
He said the NCOA provides a uniform framework for budgeting, accounting and financial reporting, adding that its effective application would enhance reconciliation, improve the comparability of financial information and strengthen compliance with International Public Sector Accounting Standards (IPSAS).
The Commissioner urged participants to safeguard the integrity of financial data, embrace digital systems, uphold professionalism and ensure timely reporting.
The State Accountant-General and Permanent Secretary, State Treasury Office, Mr. Muyiwa John Adetola, described sound financial management as a foundation of good governance.
Adetola urged participants to apply the knowledge gained from the training to their daily responsibilities, noting that accurate financial records would contribute to cleaner accounts, faster reconciliation and more credible financial statements.
The three-day programme will cover IPSAS, NCOA, budget execution, accounting records, internal audit, financial statement preparation and external audit requirements.
The training is part of the Lagos State Government’s broader efforts to strengthen public financial management and promote transparency and accountability across its MDAs.
