Office of the Accountant General of the Federation has issued new guidelines to ensure that Public Sector Entities (PSE) use Government Integrated Financial Management Information System (GIFMIS) for the preparation of General Purpose Financial Statements (GPFS) henceforth, as well as Consolidated GPFS by the Treasury. The information was contained in a circular with Ref: No TRY A6 & B6/ 2018 – OAGF/CAD/026/V.111/184 dated 15th May, 2018.
PSEs are mandated to ensure that all receipts and payments are properly classified, using the National Chart of Accounts (NCOA) codes as issued in a previous circular that was issued on 11th December, 2017. The classification should be in respect of Administrative, Funds and Economic Codes under classification of receipts and payments IN and OUT of Sub-TSA, the new circular said.
The circular that was signed by Accountant-General of the Federation, Ahmed Idris and addressed to various heads of government agencies and obtained by our…
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