FG launch OTP

The Federal government has launched the Open Treasury Portal (OTP).

The Open Treasury Portal by its design will grant Citizens unfettered access to public Finance Information.

With this launch today, all Ministries, Departments and Agencies of government are mandated to publish daily reports of all financial payments above N5 million on the portal; Monthly Budget performance; quarterly financial statements as well as annual financial statements, all prepared according to IPSAS standards.

The Accountant-General of the federation is also required to publish all daily inflows and outflows of the Treasury.
All daily payments to Contractors and other Service providers of the federal government are also to be made public.
The Portal can be accessed through; opentreasury.gov.ng
The Federal government also encouraged States and Local government areas to key into the initiative and adopt similar portal in order to enshrine financial transparency and accountability in the use of public resources
The federal government pledged its commitment to the success of the initiative and warned all public officials to abide by the directive or face dire consequences.