The Accountant General of the Federation, Mrs Oluwatoyin Madein, has cautioned treasury managers about the dangers of corruption, fraud, and financial mismanagement.
Madein mentioned this at the educational event organized by the Chartered Institute of Treasury Management in Abuja on Thursday.
The AGF, who was represented by Director of Special Duty, OAGF, Alhaji Muhammed Aliyu, stated the importance of protecting public funds and government and public interests.
“We must be vigilant against corruption, fraud, and financial mismanagement by establishing a robust internal control system and promoting a culture of compliance,” she said.
She stated that this is to achieve the virtues and behaviors necessary to reduce corruption in the country.
She expressed, “Training and professional development are essential for equipping practitioners with the ethics and skills needed to carry out Treasury Management activities.
“Let us take advantage of this opportunity to enhance our understanding of ethical principles and best practices, in order to improve our ability to serve the public effectively.”
She encouraged participants to uphold the highest ethical standards in their work and actions as treasury professionals.
She stated that together, they will strive to build a future where transparency, integrity, and accountability will be the focus in public finance management.
“As professionals, we must resist the temptation of personal interest or undue influence in our decision-making processes.
“We must always prioritize the public interest above all other interests, even in the face of difficult situations or pressure from the public,” she said.
Madein added that ethical conduct in treasury management involves a large number of principles, including transparency, honesty, accountability, and fairness.
“We must take these principles seriously, not only to maintain public trust but also to instill a culture of integrity and transparency within our organizations.”
She noted that as custodians of public funds, they bear a significant responsibility to uphold the highest standards of ethics and integrity in their profession.
Also speaking, the Registrar, CITM, Mr Olumide Adedoyin said that to reduce financial crime, there must be a cleansing agent, and awareness is also crucial.
“Once you raise awareness, professional associations, particularly associations like CITM, ANAN, and ICAN, must be empowered, because the path ahead is an ongoing journey.
“Along the way, there are gaps that need to be filled, and that is why treasury management becomes important; if you do not involve treasury management in your financial flow, you are going to lose out.”
