The acting chairman of the Fiscal Responsibility Commission (FRC), Charles Abana, says transparency, accountability and digital revenue management remain key tools for reducing revenue leakages and improving public fund management.

Mr Abana disclosed this on Friday in Abuja.

He noted that the Fiscal Responsibility Act 2007 provided the framework for prudent management of public resources, adding that the Act mandated the commission to monitor and enforce fiscal responsibility across government institutions.

According to him, its primary objective is to provide rule-based financial guidelines to checkmate wastages and financial rascality in public spending.

“It also promotes accountability, transparency and long-term macroeconomic stability in the management of public finances,’’ he said.

The acting chairman said effective accountability mechanisms would significantly reduce revenue leakages across government operations.

He noted that although leakages might not be completely eliminated in the short term, they could be drastically reduced.

He said the government had adopted several measures to strengthen revenue collection and management processes.

“One of the major measures is the digitalisation of revenue collection systems. The digital platforms make it easier to monitor transactions and improve transparency in government revenue administration,’’ he said.

Mr Abana cited the Treasury Single Account as a critical initiative to improve revenue management, adding that it centralised all government cash resources into a single account.

He said the policy consolidated government revenues into a single account for effective monitoring and control, noting that the government discouraged manual cash transactions to enhance revenue tracking.

According to him, electronically generated records provide better accountability than manual receipts.

He said technology-driven systems align with the objectives of the Fiscal Responsibility Act, adding that digitalisation had strengthened accountability and reduced revenue leakages in public financial management.

Mr Abana noted that the commission remained committed to supporting government efforts to ensure prudent financial management.

Speaking on development partnerships, he said international support for public financial management reforms had existed for many years.

He said that support from development partners was helping to strengthen institutional reforms and improve the delivery of its mandate.

He said the commission recently organised a retreat to reposition its management for greater effectiveness and productivity.

“The retreat was supported by the Rule of Law and Anti-Corruption Programme implemented by the International Institute for Democracy and Electoral Assistance (International IDEA) and funded by the European Union (EU).

“The retreat focused on unveiling and validating the commission’s new strategic plan (2026–2028) and building institutional capacity for fiscal oversight and prudence.

“The week-long retreat reviewed the commission’s strategic objectives and actionable plans for achieving its mandate,’’ he said.

Mr Abana expressed appreciation to the development partners, describing their support as critical to strengthening reforms and improving the commission’s performance. 

(NAN)