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FG unveils accounting software for financial discipline

Kemi Adeosun

The Federal Government on Tuesday unveiled an accounting software known as OneBook to ensure financial discipline among the three tiers of government.

The Minister of Finance, Mrs. Kemi Adeosun, launched the software in Abuja shortly before the commencement of the Federation Accounts allocation Committee meeting, which was held at the headquarters of the Ministry of Finance.

She said that the launch of the software became imperative following the conversion of the financial system of the Federal Government from the cash to accrual accounting system, adding that the software would help restore confidence in the public financial management system.

Adeosun stated, “This is tailored to the public sector and will save our states a lot of money, instead of them developing individual solutions, and it is in tandem with our objectives to save money.

“It will make us more credit worthy to the international agencies and it is a great achievement and the first for us in Nigeria.”

The Accountant General of the Federation, Alhaji Ahmed Idris, who also spoke at the event, said the software was a solution to all the accounting problems being faced in the public sector.

Idris said his office had endorsed the software for use in the public sector, adding, “In view of its ability to change the capacity to change the ride as regards IPSAS accrual, I recommend it strongly to the three tiers of government.”

Meanwhile, a total sum of N429.12bn was allocated by the FAAC committee to the three tiers of government for the month of February.

The amount represents a decline of N36.02bn from the N465.14bn distributed in January.

Adeosun, who also addressed journalists after the meeting, put the gross statutory revenue for February at N290.16bn, adding that this was lower than the N324.99bn received in the previous month by N34.82bn.


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