Sixteen years after it began the process, the Federal Government yesterday launched the National Electronic Asset Register to strengthen transparency and accountability across Ministries, Department and Agencies (MDAs) of government.

In addition to the launch, the Office of the Accountant General of the Federation (OAGF) unveiled compendium of federation account revenue allocation to all three tiers of government, comprising the federal, states and 774 local government councils from 2020 to 2023.

Unveiling the two documents, Minister of State for Finance, Dr. Doris UzokaAnite, described the two documents as strategic and important to government business.

The Minister referred to the Electronic Asset Register as a balance sheet of government, which must document every single asset belonging to the government. “Any entity, whether it’s a public entity or private entity, must have a balance sheet,” she said.

The Minister lauded the Accountant General of the Federation, Mrs. Mrs Oluwatoyin Madein, for bringing the two projects to fruition in marking her retirement from government service. In her opening remarks, Madein, who is billed for retirement today (Friday), said the national electronic asset register would increase transparency and accountability.

According to her, “assets are the backbone of any economy. For any government, public assets are a significant part of its balance sheet, influencing not just the financial position but also its ability to deliver services to the citizens.