ANAMBRA Public Finance Law has transformed the financial activities of the government or public sector organisations with regards to their compliance to the legislation and regulations governing the funding and administration of Government activities in Anambra State.
Anambra State Commissioner for Finance, Ifeatu Onejeme stated this at the one-day Sensitisation/Dissemination Workshop for key stakeholders of the Anambra State Public Finance Management Law, 2020, organised by Anambra State Ministry of Finance, in collaboration with State and Local Governance Reform (SLOGOR) Project, held in Awka.
Represented by the ministry’s permanent secretary, Ebele Okonkwo, the commissioner noted that most states in the past carried out their financial dealings with the outdated Federal Finance Act of 1958, “hence the need for a new Public Financial Law that will replace the Federal Finance Act of 1958. The Anambra Public Finance Law is an appropriate tool for economic advancement.”’
The commissioner expressed his deep appreciation to the World Bank and European Union for their continuous support towards ensuring transparency, accountability and quality in public finance management.
Earlier in her opening remarks, SLOGOR Ag. Project Coordinator, Ifeoma Ezedebego said the sensitisation workshop was intended to tell the public that the law is in place in the state.
Ezedebego stated that law 2020 was passed last year to effectively and efficiently manage the resources of Anambra State and urged the participants to articulate the law for the good of Anambra State.
The resource person, Fabian Nwigbo, of Thomania Associates in his paper titled ‘Law to Regulate the Public Financial Management of Anambra State ‘declared that the law will ensure that the state revenue or resources do not only serve the current challenges in the state but also future challenges.
“If the provision of these laws is adhered to strictly, it will better financial management In Anambra State.”
Head of the Project Financial Management Unit of the World Bank Assisted Project, Sylvester Uzoannolue declared the law as an instrument that gives the state a direction in terms of how to use, source and apply the finances in an orderly manner to achieve the set goals of the government.
A participant, Emmanuel Modozie, representing ICAN President, Awka, District, Chukwuemeka Oliaku, said the law would go a long way to bring finance practitioners and regulators update with the current thing as it relates with Anambra State and will also help to give Anambra a new face in the new normal.