RIVERS COMMISSIONER SET TO REFORM FINANCE SECTOR

By NBF News
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PORT HARCOURT - Rivers State Commissioner of Finance, Dr. Chamberlain Peterside, has proposed a reform in the public finances of the state to allow for modernisation of the public accounting system in line with global best practices.

The proposal also seeks to restructure the Board of Inland Revenue to boost internally generated revenue, strengthen the overall management standard and build investor confidence that will increase the creation of jobs and economic opportunities for the people.

Dr. Peterside reforms seeks the automation and integration of respective accounting modules which include Federal Accounts Allocation Committee, FAAC; Internally Generated Revenue, IGR; budget and planning; accounts payable; payroll and cash management to be harnessed under one inter-operable, robust, scalable and secure platform.

He said: 'It will ensure better control and enhance transparency, accountability and full disclosure.