Kogi Sets Another Record: Scores 100% States Fiscal Transparency, Accountability and Sustainability (SFTAS) Program
Kogi State has recorded another feat at the national level by scoring overall 100% in States Fiscal Transparency, Accountability and Sustainability (SFTAS) Program for Results, in the 2019 Annual Performance Assessment (APA).
The report was released on the 28th October, 2020, by the Office of the Auditor General for the Federation as the SFTAS Independent Verification Agent with support from JK Consulting Company Limited.
The verification which was carried out using the Disbursement Linked Indicators (DLIs) and Tests, ranked Kogi State high in the areas of;
Improved Financial Reporting and Budgeting Reliability.
Increased openness and citizens’ engagement in the budget process.
Improved cash management and reduced revenue leakages through implementation of State TSA.
Strengthened Internally Generated Revenue (IGR) collection.
Biometric registration and Bank Verification Number (BVN) used to reduce payroll fraud.
Improved procurement practices for increased transparency and value for money.
Strengthened public debt management and fiscal responsibility framework.
Improved clearance/reduction of stock of domestic expenditure arrears. Improved debt sustainability.
In a move to support Nigerian States to strengthen fiscal performance and sustainability, the Federal Government of Nigeria had introduced a Four-year State Fiscal Transparency, Accountability and Sustainability (SFTAS) Program for Results (“The Program”).
In each of the four years, the Program which was designed to finance activities under two components: (i) a Program for Results (PforR) component in the amount of US$700 million and (ii) a Technical Assistance (TA) component in the amount of US$50 million, enables all states to participate in each of the four years and benefit from the PforR funds by meeting set Eligibility Criteria and any or all the indicators of fiscal transparency, accountability and sustainability.
The Auditor-General for the Federation was appointed as the Independent Verification Agent (IVA) for the SFTAS Programme and JK Consulting Company Limited was subsequently engaged to support the IVA.
Both parties have worked together to assess the performance of the State against the Disbursement Linked Results (DLRs) for 2019.
To ensure a high-quality assessment, the IVA engaged the services of experts in Taxation, Procurement and Debt Management laws to review the legislation in place for each State.
The 2019 report has placed Kogi State amongst states with the highest level of openness and accountability in its fiscal responsibility.
Reacting to this development, the State Commissioner for Information and Communications , Hon Kingsley Fanwo said the independent verification is a confirmation of Governor Yahaya Bello’s commitment to transparency, accountability and performance.
He appreciated the reputable bodies for doing a thorough job, and assured that the government will continue to ensure good governance for the people of Kogi State.