2024 capital releases to commence in May — AGF

The Accountant General  of the Federation, Mrs Oluwatoyin Madein has revealed that Capital releases for for the 2024 fiscal year will commence in the Month of May.

She stated this yesterday in Abuja at a one day Stakeholders interaction/sensitization session on the revised policy on cash management and bottom-up cash planning

She stated that the capital releases for the year 2023 was supposed to end on the 31st of March, however there were pending payments which needed to be completed, adding that initial cash plans had to be halted because of the  revision of policy of the new cash management policy 

“The 2023 capital budget releases was expected to end On the 31st of March 2024 but at the end of March, cash plan for 2023 was still being uploaded so we decided to make calls on March 15 which we treated already and that of March 21st is what we are still on.

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“However, we have compiled all payments for capital releases for 2023 so we can close and commence for  2024. As soon as we close this Programme, we will start calling for the uploading of payments by MDAs for the year 2024. We expect that by 15th May we will commence uploading the cash plan for 2024,” she explained.

She added that the workshop became imperative to aggregate inputs from MDAs on how to make the revised cash management policy effective and transparent 

Also speaking, the minister of Finance and Cordinating minister of the economy, Wale Edun noted that the economy is at a stage of rejuvenation adding that “President has directed  that financial dealings have to be transparent which is why the workshop is critical,”