The Accountant General of the Federation, Mrs. Oluwatoyin Madein, announced that capital releases for the 2024 fiscal year will begin in May during a Stakeholders interaction/sensitization session in Abuja. She revealed that while capital releases for 2023 were initially set to end on March 31st, pending payments necessitated an extension, and the revision of the cash management policy further delayed initial cash plans.
Mrs. Madein emphasized the importance of closing pending payments for 2023 to kickstart capital releases for 2024. She indicated that once this process is completed, MDAs will be called upon to upload payments for the new fiscal year, with expectations to commence uploading the cash plan for 2024 by May 15th.
The workshop aimed to gather input from MDAs to enhance the effectiveness and transparency of the revised cash management policy. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted the government’s commitment to transparency in financial dealings, underscoring the critical nature of the workshop in aligning with the President’s directive for transparency in economic matters amidst efforts to rejuvenate the economy.
]Source: Daily Trust