Grace Cofie
The World Bank has commended the Kogi State Government for its 2020 audited financial statements saying it serves as a standard for transparency and accountability in Nigeria’s public sector.
The Commendation was made in a letter which was addressed to the accountant-general of Kogi on November 21, 2021. The letter was signed by the States’ Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme Task Tem Leader, Nigeria Country Office, Western and Central African Region, Deborah Issuer.
The SFTAS is a $750m programme to reward states for meeting any or all of the nine indicators that demonstrate improvements in fiscal transparency, accountability and sustainability.
The World Bank had earlier supported the Federal Government to assist states to properly achieve the 22-point Fiscal Sustainability Plan which has now been updated to be the 9-point disbursement-linked indicators under SFTAS.
The World Bank said, “We note that Kogi State Audited Financial Statements for the year ended December 31, 2020 has been uploaded on the state website as per the SDTAS’eligibility criteria for FY21.
“The financial statements were prepared on the IPSAS accrual basis and the Auditor General of the State has issued an Audit Certificate with an unqualified audit opinion on the General-Purpose Financial Statement and a Special Opinion on SFTAS Program Expenditure Framework during the period.
“The bank has reviewed the audited financial statements, and it is found acceptable for SFTAS Programme Fiduciary assurance requirements.”
