The Federal Government has warned project accountants and financial officers to exercise utmost care and integrity in managing funds for federal projects, especially those sourced through external borrowing.
The Accountant-General of the Federation, Shamsudeen Ogunjimi, gave the warning during the 2025 retreat of the Federal Projects Financial Management Department, held in Abuja on Thursday.
Ogunjimi, who was represented by the Director of Finance and Accounts, Akuagwu Chucks, said that the funds under their supervision were not only public but also borrowed, and therefore must be handled with a deep sense of responsibility.
“You must realise that you have been entrusted with not just public funds, but borrowed funds which must be repaid in time, either in ours or that of our children.
“It is a privilege that you have been chosen among the many treasury officers in the country to safeguard the future of this great nation as the first gatekeepers of critical public funds, as represented by the over forty donor-funded projects,” he said.
He noted that the retreat was a testament to the commitment of the Office of the Accountant-General of the Federation to enhancing the financial management of federal projects, urging officers to use the platform for reflection, collaboration, and strategic planning.
“Let us be guided by a shared vision: to strengthen the financial stewardship of our nation’s resources. We must not forget that this is an era of increasing complexity and scrutiny in public finance, making our role ever so important.
“I encourage each one of you to actively engage in discussions, share your insights, and learn from one another. Let us leverage this opportunity, not only to enhance our skills but also to foster relationships that will propel us towards achieving our various project’s development objectives (PDOs),” he added.
In his remarks, Director of the FPFMD, Joshua Luke, while commending the Accountant-General for supporting the retreat and recognising its value, said that knowledge and training play a critical role in financial management.
“Our work as project accountants is knowledge-driven, and that is why retreats like this are very, very important,” he said. Luke expressed confidence in the outcomes of the retreat, noting that participants would return better equipped to carry out their responsibilities to the projects, their ministries, departments, and agencies, and the nation as a whole.
The retreat convened project accountants, internal auditors, donor agency representatives, and other key stakeholders to deliberate on reforms, exchange best practices, and enhance financial stewardship across federal projects.
