Business

AGF To Enforce Auditors Compliance With IPSAS

Published

7 years ago

April 27, 2018

The Auditor-General of the Federation (AuGF), Mr Anthony Ayine, says his office will enforce compliance with the International Public Sector Accounting Standards (IPSAS).
According to Ayine, IPSAS is a requirement for accounting by internal auditors of Ministries, Departments and Agencies (MDAs).
The AGF spoke at the opening of a one-day retreat organised by the Office of the Accountant-General of the Federation (OAGF) in collaboration with the Office of AuGF in Abuja yesterday.
The theme of the retreat was “First year of IPSAS Accrual Basis Implementation in Nigeria: Issues and Prospects.”
Ayine said it had been observed that the internal auditors had not been complying with the accounting standard.
He said non-compliance hindered accountants from sending their reports to the AuGF and the AGF in the required format.
“Maybe they have been sending to the AGF, but for the AuGF, most internal auditors are not complying with this requirement.
“Very soon a circular from our office will go out and we are going to enforce compliance with this requirement because internal auditors have a very critical role to play in the accountability process,” said Ayine.
According to him, the hallmark of IPSAS is transparency and disclosure.
Ayine said it was observed in the 2016 review that it was not enough for figures to be on a financial statement but there should be adequate disclosures to add meaning to the figures.
He advised participants to take the opportunity seriously, adding that they would be better for it and Nigeria would be in a position to compete favourably globally.
The AGF, Mr Ahmed Idris, in his address, said while many showed great concern on government’s ability to implement IPSAS Accrual Basis, some doubted it, while others thought it was impossible.
Idris, who was represented by the Director, Revenue and Investment, Dr Bakari Wadinga, said the implementation was made possible by leveraging on the provision for first time users to make it easier.
He said the Federation Accounts Allocation (FAAC) Sub-Committee on IPSAS implementation in Nigeria had provided a roadmap for IPSAS implementation in the three tiers of government.
Idris said the transiting to IPSAS required a lot of capacity building and commitment by process owners, as there were deficiencies in the first year of implementation.
“The present administration has demonstrated continuous commitment to sustainable policy implementation by providing the needed support and resources for Nigeria to adopt global best practice in financial management.
“This retreat seeks to address practical implementation issues and chart the way forward,” Idris noted.
The Tide source reports that IPSAS is a global accounting standard issued by the International Public Sector Accounting Standards Board (IPSASB) for application by public sector entities in the preparation of financial statements.

Business

PINL Initiatives, Operational Etiquette Excites Bayelsa Stakeholders

Published

19 mins ago

June 20, 2025

The Tide

Host Communities of oil and gas firms within the operational catchment area of an oil and gas infrastructure surveillance company, Pipeline Infrastructure Nigeria Ltd. (PINL), have scored the firm high over its developmental initiatives and programmes.

The stakeholders gave the commendation in joint address presented during a stakeholders engagement meeting held in Yenagoa, the Bayelsa State capital, by the PINL to assess the performance of the company’s operations in host communities.

Presenting the address on behalf of the communities, Elder T.K. Ogoriba lauded the firm for its giant and uncommon initiatives which has brought development and empowerment to host Communities within its operational catchment area.

Earlier in his opening remarks, the PINL Consultant, Communities Relations, Dr. Akpos Mezeh, stated that the company would soon unveil empowerment schemes for youths.

He stressed that there has been near zero infractions on the Trans Niger Pipeline (TNP), hemce an increase in crude oil production, which has ultimately increased Nigeria’s revenue.

“Collectively, we have been able to achieve near zero infractions on the pipelines that we have been mandated to secure and the implication is that we are experiencing uninterrupted operations in the Trans Niger Pipeline (TNP), and crude oil production from the fields are flowing without interruption.

“Secondly, we used to experience soot. If you dry your clothes, the next day the colors have changed , and, of course, we are all witnesses that the situation has changed for better and that goes to show that our environment is now enjoying some level of restoration.

“Our environmentalist here can confirm that we are making good progress. We have experienced increase in crude oil production and the implication is that we are making oil revenue available for the federal government and that would go a long way to restore confidence of investors in our economy”, he said.

In a presentation on the impact of oil spillage on the environment, the Manager, Health, Safety and Environment (HSE) of PINL, Sunday Otoyo, called on the community stakeholders to dissuade their children and constituents from bursting the pipelines, citing environmental degradation, health challenges and other impacts as consequences.

“Oil spillage possess a significant environmental threat, harming marine life, disrupting ecosystems, and damaging human health and economic activities”, he stated.

In his response, President of Movement For the Survival of Ijaw Ethnic Nationality in the Niger Delta (MOSIEND), Comrade Tonjo Kennedy West, applauded the company for showing exemplary leadership by opening itself for assessment by community stakeholders, calling on other surveillance companies operating in the Niger Delta to borrow a leaf from PINL and create better working relationship with host communities.

Speaking on behalf of the women, Mrs. Moke Ossai, Women Leader, Igbogene Federated Communities, commended the company for carrying women and youths along in their operations.

In his speech, Community Relations Executive of the firm, Mr. Tarila Alamieyeseigha, said the firm would soon roll out a scholarship scheme for the host communities within its areas of operation.

He commended stakeholders for synergizing with the firm, noting that the company will leverage on the cordial relationship existing between her and the host communities “to ensure enduring peace, tranquility and pipeline vandalism-free operational catchment area”.

This, he explained, is in order to protect the environment from oil and gas related hazards and increase the nation’s oil and gas production for the overall benefit of citizens.

Ariwera Ibibo-Howells, Yenagoa

Business

$5bn Train 7 Project 80% Complete -NCDMB

Published

1 week ago

June 12, 2025

The Tide

The Nigerian Content Development and Monitoring Board (NCDMB) has said the Nigeria Liquified Natural Gas (NLNG) Train 7 project has reached 80 percent completion.
The Board stated this in a statement released by its Corporate Communications Directorate to newsmen, recently, during the inauguration of 140 trainees for the Train 7 Project.
The trainees had undergone the Nigerian Content Human Capacity Development (NC-HCD) programme it organised in partnership with the Nigeria Liquefied Natural Gas (NLNG) Limited in Port Harcourt, the Rivers State capital.
The Tide gathered that the training programme was an intensive three-month Advanced NC-HCD Programme for the US$5 billion NLNG Train 7 Project on Bonny Island, Rivers State.
The trainees, The Tide further learnt are graduates in different academic disciplines who have completed a 12-month Basic Training Programme in diverse oil-and-gas-industry-related skill sets and are now set for an on-the-job phase which includes active hands-on participation in operational areas such as Turn Around Maintenance (TAM), Commissioning, and Desktop Programmes.
The Corporate Communications Directorate of the NCDMB told The Tide that in November 2024, a set of 331 trainees under Batch A of the NLNG T7 HCD Training Programme began capacity development in facility management, engineering, Information and Communication Technology (ICT), Health Safety and Environment (HSE), Quality Assurance and Quality Control, as well as welding and fabrication.
According to the Board, additional 77 trainees under Batch B of the same Training Programme began capacity development in data analytics and supply chain management among several other fields relevant to the operations of the oil and gas industry.
While addressing the trainees and trainers who were drawn from the Oil and Gas Trainers Association of Nigeria (OGTAN), Management Personnel of the NCDMB and NLNG, the Executive Secretary of NCDMB, Engr Felix Omatsola Ogbe, said the Advanced NC-HCD training is more than a milestone.
“The NC-HCD training programme is an expression of the collective commitment of the Board and the NLNG to nurturing world-class Nigerian professionals who will shape the future of our oil and gas industry.
“The Board has remained steadfast in its conviction that Human Capital Development is a critical investment in the sustainability and competitiveness of Nigeria’s oil and gas value chain”, the NCDMB boss said.

Ariwera Ibibo-Howells, Yenagoa

Business

Ageing Aviation Workforce: Minister Urges Youth Grooming For Replacement

Published

1 week ago

June 12, 2025

The Tide

Worried by the ageing workforce in the country’s air transport sector, the minister of Aviation and Aerospace Development, Festus Keyamo, has urged the Federal Airports Authority of Nigeria (FAAN) and other stakeholders in the sector to groom youths.
He said the situation has resulted in widened knowledge gaps and operational challenges.
As a globally regulated sector, he said it was important that stakeholders put measures in place to attract the talents required to move the industry forward.
Keyamo, therefore, called on stakeholders in the industry to be deliberate in identifying, encouraging, nurturing and harvesting young talents to ensure a sustainable supply of manpower to the aviation sector.
Director of Public Affairs and Consumer Protection of the FAAN, Mrs Obiageli Orah, in a release made available to aviation correspondents, noted that the Minister deemed it necessary to attract the right quality of human resources required to move the sector forward.
“As a globally regulated sector, it is important that stakeholders put measures in place to continually attract the right quality and quantity of human resources required to move the industry forward.
“It is important to note that organising training programmes are avenues through which we can breed, nurture, and harvest such human resources.
“One of the critical challenges facing the industry is the ageing and retiring workforce, leading to widened knowledge gaps and operational issues.
“Training programmes, I believe, is among other things designed to make aviation appealing to the younger generation, while encouraging them to develop interest in taking up a career in the industry”, the statement stated.
Meanwhile, some aviation stakeholders have expressed concerns of countless young Nigerians who seek to make their mark in aviation, tourism, and the wider transport ecosystem but often face steep barriers to entry.
According to them, lack of access, limited mentorship, financial constraints, skill mismatches, and systemic gaps, among others, have posed some constraints to them.

Corlins Walter