Abuja (Sundiata Post) – The Office of the Accountant General of the Federation has issued a stern notice to all Ministries, Departments, and Agencies regarding the closure of 2023 accounts and the commencement of 2024 budget access.
The notice came in the annual Federal Treasury Circular with reference number: TRYA7&B7/2023/OAGF/CAD/026/Vol.V/823 dated 19th December, 2023 and signed by the Accountant General of the Federation, Dr Oluwatoyin Madein.
Sunday PUNCH reports that as the implementation of the 2023 Appropriation Act draws to a close, both recurrent and capital expenditure for the current year will be shut down on December 31st, 2023.
Madein said, “Both ledger periods and access to funds will be closed online, real-time by midnight of December 31st, 2023”. Similarly, TSA-Sub Accounts of MDAs holding regular budgetary funds with a recurrent component will face the same automatic closure at midnight.
“Transferring funds to hidden accounts or engaging in practices like creating surrogate accounts to manipulate unspent balances will be detected and met with consequences. MDAs and officers involved in such maneuvers will face appropriate sanctions.”
“To ensure transparency and proper accounting, MDAs using GIFMIS are required to upload all 2023 transactions from their Sub-TSA Accounts into the system using the Journal Entry Functionality. This exercise the AGF insisted must be completed by February 13th, 2024.
(Punch)
