Follow Us on Google
Mrs. Oluwatoyin Madein, the Accountant General of the Federation (AGF), has warned Treasury managers against the threat of corruption, fraud, and financial mismanagement.
Madein said this at the training programme organised by the Chartered Institute of Treasury Management (CITM) in Abuja on Thursday.
The AGF, which was represented by Alhaji Muhammed Aliyu, Director, Special Duty, OAGF, said that there was a need to safeguard public funds and protect the interests of the government and the public.
“We must remain watchful against the threats of corruption, fraud, and financial mismanagement by implementing a strong internal control system and promoting a culture of compliance.”
This, according to her, is in a bid to achieve the virtues and behaviors necessary to curtail corruption in the polity.
She said, “Training and professional development are essential in equipping the practitioners with the knowledge and skills necessary to conduct the activities of Treasury Management ethically.”
“Let us seize this opportunity to expand our understanding of ethical principles and best practices, so as to strengthen our ability to serve the public well.”
She urged participants to uphold the highest ethical standards in their work and actions as treasury professionals.
According to her, together, we shall strive to build a future where transparency, integrity, and accountability will be the focus in the management of public finances.
She said, “As professionals, we must resist the temptation of personal interest or undue influence in our decision-making processes.
“We must always prioritize the public interest above all other interests, even in the face of unpleasant situations or pressure from the public,” she said.
She said ethical conduct in treasury management entailed an extremely large number of principles, which include transparency, honesty, accountability, and fairness.
“We must adhere to these principles seriously, not only to maintain public trust but also to imbibe a culture of integrity and transparency within our organizations.”
She said that as custodians of public funds, we bear a tremendous responsibility to uphold the highest standards of ethics and integrity in our profession.
Also speaking, the Registrar, CITM, Mr Olumide Adedoyin said that to curtail financial crime, there must be detergent, adding that enlightenment is also key.
“Once you create awareness, you must empower professional associations, particularly associations like CITM, ANAN, and ICAN, because where we are going is an evolving journey.
“And along the line, there are gaps that need to be filled, and that is why treasury management becomes important; if you don’t involve treasury management in your financial flow, you are going to lose it.”
He said that treasury management would help to safeguards in the financial system, adding that this would help to fortify financial inflow.
