He said effective accountability mechanisms would significantly reduce revenue leakages across government operations.
The former Anambra State governor noted borrowings are destructive especially when done for consumption rather than production.
The public accounts committee chairman said that the violations had negatively impacted the liquidity of the federal government.
Mr Bamidele, however, said there was a growing concern over continued borrowing, but Mr Tinubu resorted to it to finance fiscal gaps.
He encouraged all stakeholders to commit to more prudent management of public finances to achieve desired outcomes.
He said the circular directed all MDAs to desist from implementing any increase without NSIWC’s input, and after approvals by the government, such approvals must be conveyed by NSIWC.
