FG cash managers brainstorm on effective use of idle cash

These and more are the critical issues he raised while declaring the three-day retreat for the technical sub-committee on cash management with the theme

The Accountant General of the Federation (AGF), Alhaji Ahmed Idris, has told cash managers in the Federal Government ministries, departments and agencies (MDAs) to brainstorm on how to effectively manage the several government cash flows and effectively deploy idle cash where it exists.

Represented by the Director Inspectorate, Office of the Accountant of the Federation, Mr Chuks Anamekwe, the AGF tasked the cash managers to explore ways on how salaries can be paid on time and ways to upholding greater accountability for public expenditure as well as supporting budget execution and efficient resource allocation.

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These and more are the critical issues he raised while declaring the three-day retreat for the technical sub-committee on cash management with the theme “advancing the operational efficiency for effective liquidity and cash management in Nigeria: beyond rhetoric” holding in Keffi, Nasarawa State.

The objective of the committee is to seek ways of “improving on the Capacities of Stakeholders with a view to getting them more acquainted with Emerging Liquidity and Cash Management Techniques.”

He said: “I implore all participants to brainstorm and come up with cash and financial management strategies and practices that will help advance the practice of modern-day cash management. If fully adopted and applied, will greatly help in ensuring that sufficient cash is available to the government as and when needed to meet commitments to make payments, controlling aggregate cash flows within fiscal, monetary and legal limits, and improving the management of government’s domestic borrowing program, as well as facilitating investment of excess or idle cash.”