FG launches electronic digital assets register

The federal government, on Thursday, in Abuja launched the National Electronic Assets Register, a platform created to track and manage government-owned assets across ministries, departments and agencies.  The initiative, championed by the Office of the Accountant-General of the Federation, is expected to enhance transparency and accountability in public asset management while aligning with global financial […]

The federal government, on Thursday, in Abuja launched the National Electronic Assets Register, a platform created to track and manage government-owned assets across ministries, departments and agencies.

 The initiative, championed by the Office of the Accountant-General of the Federation, is expected to enhance transparency and accountability in public asset management while aligning with global financial reporting standards.

Speaking at the launch in Abuja, the Accountant-General of the Federation, Mrs Oluwatoyin Madein, described the platform as a transformative step towards better financial management.

 “We are here not just to witness the launch of a digital system, but to also be put through a few steps for the use of this initiative,” she said. “It’s a journey of transforming the way we manage public resources, essential for the sustainability of our nation’s finances and the integrity of our financial systems.”

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She highlighted that for decades, Nigeria had lacked a consolidated record of its assets, which had created gaps in financial reporting.

The Minister of State for Finance, Doris Uzoka-Anite, commended the Office of the Accountant-General for ensuring the completion of the long-standing project.

 “The assets registry has been in the making since 2016. It has taken a while, but under the tenure of the current accountant-general, it has finally come to completion,” she said.

Providing an update on the project, the Acting Director of Asset Tracking and Management at the OAGF, Mrs Mbat Josephine, revealed that over 400 submissions of asset data had already been received from MDAs.