AGF Urges Treasury Managers to Enhance Internal Controls Against Corruption

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Mrs. Oluwatoyin Madein, the Accountant General of the Federation (AGF), has emphasized the importance of implementing robust internal control mechanisms to safeguard against corruption, fraud, and financial mismanagement in treasury management.

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Speaking at a training program organized by the Chartered Institute of Treasury Management (CITM) in Abuja, Madein stressed the necessity of protecting public funds and the interests of the government and the public.

Represented by Alhaji Muhammed Aliyu, Director of Special Duty, the AGF highlighted the imperative of maintaining vigilance against corruption threats and fostering a culture of compliance through stringent internal controls.

She underscored the significance of training and professional development in equipping practitioners with the requisite knowledge and skills to conduct treasury management activities ethically.

Encouraging participants to uphold the highest ethical standards, Madein emphasized the collective effort needed to promote transparency, integrity, and accountability in public finance management.

She reiterated the importance of prioritizing the public interest above personal gain or external pressures, urging treasury professionals to remain steadfast in their commitment to ethical conduct.

According to Madein, ethical treasury management involves principles such as transparency, honesty, accountability, and fairness, which are crucial for maintaining public trust and fostering a culture of integrity within organizations.

Echoing her sentiments, Mr. Olumide Adedoyin, Registrar of CITM, emphasized the role of treasury management in curbing financial crimes and enhancing awareness and empowerment within professional associations to fill existing gaps in financial flow management.

He emphasized that sound treasury management practices are vital for safeguarding the nation’s financial system and reducing corruption, underscoring the importance of incorporating treasury management principles into financial operations to mitigate risks and ensure financial integrity.


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