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Kogi: World Bank commended us for transparency in audited financial statement

Kogi: World Bank commended us for transparency in audited financial statement
November 29
19:19 2021

The Kogi state government says its 2020 audited financial statement has been commended by the World Bank.

In a statement on Monday, Kingsley Fanwo, commissioner for information, said the global bank described the state’s financial report as a standard for transparency and accountability in the public sector.

According to him, the bank made the commendation in a letter dated November 17 and signed by Deborah Isser, States Fiscal Transparency, Accountability and Sustainability Programme (SFTAS) task team leader, Nigeria country office, Western and Central African region.

The letter, which was received by the state accountant-general on November 25, commended the state for preparing its audited financial statements in line with the accrual basis of the international public sector accounting standards.

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“We note that Kogi State Audited Financial Statements for the year ended December 31, 2020 has been uploaded on the state website as per the SFTAS’ eligibility criteria for FY21,” the letter read.

“The Financial Statements were prepared on IPSAS accrual basis and the Auditor General of the State has issued an Audit Certificate with an unqualified (clean) Audit opinion on the General-Purpose Financial Statement (GPFS) and a Special Opinion on SFTAS Program Expenditure Framework during the period.

“The Bank has reviewed the Audited Financial Statements, and it is found acceptable for SFTAS Program Fiduciary assurance requirements.”

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The World Bank letter is coming about four months after it issued a letter commending Yahaya Bello, governor of the state, for “good leadership” and the refund of a $4.63 million surpluses under the Nigeria Erosion and Watershed Management Project (NEWMAP).

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