Capital releases for the 2024 fiscal year will begin in May, the Accountant General of the Federation, Mrs. Oluwatoyin Madein, has announced during a Stakeholders interaction session in Abuja.
She hinted that, although the capital releases for 2023 were initially scheduled to be concluded by March 31st, pending payments necessitated an extension. She also highlighted that the implementation of new cash management policies had temporarily paused the initial cash plans.
“The 2023 capital budget releases was expected to end on the 31st of March 2024 but at the end of March, cash plan for 2023 was still being uploaded so we decided to make calls on March 15 which we treated already and that of March 21st is what we are still treating.
“However, we have compiled all payments for capital releases for 2023 so we can close and commence for 2024. As soon as we close this programme, we will start calling for the uploading of payments by MDAs for the year 2024. We expect that by May 15, we will commence uploading the cash plan for 2024,” she explained.
She noted that the workshop was crucial for gathering feedback from MDAs on enhancing the effectiveness and transparency of the revised cash management policy.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted that the economy is in a phase of revitalization. He stated that the President has mandated transparency in financial transactions, making the workshop a critical event
