The Independent Verification Agents (IVAs) from the Office of the Auditor-General of the Federation (AGF), have urged Benue State to sustain its rating on transparency and fiscal discipline aimed at gaining more World Bank grants.
The World Bank State Fiscal Transparency, Accountability and Sustainability (SFTAS) programme gives states opportunities to steer open governance which, in the long run, earns them financial rewards for performance.
IVAs’ team leader, Dr Damian Nwankwo, who presented the programme’s result for the past four years on Friday in Makurdi, noted that the essence of the exercise was for Benue State to imbibe accountability and transparency in its accounts record and to ensure that efficient management continues.
He said the summary result of the project showed that out of 16 indicators, the state was successful in eight, positing that the state previously achieved four and one is inconclusive while it failed in the rest.
Nwankwo said: “The state is expected to continue with the key indicators. The result is however subject to review by the World Bank. The state should sustain the gains of the project.”
The State Commissioner for Finance and Economic Planning, Dr David Olofu, who is also the Chairman Steering Committee of SFTAS, praised Benue for doing better than many other states of the federation as he pointed out that the World Bank would reward the state with financial reward for achieving in the areas marked.
Represented by his Permanent Secretary, Frank Adi, the commissioner added in an interview with our correspondent that, “there is a standard that the SFTAS want every state to maintain to achieve the grants. The standard is how all states are transparent in all their financial dealings.
“They have told us that Benue has achieved 11 out of 16; we failed three and one is inclusive. We have achieved three before and have not keyed into two because the House of Assembly has not passed the law in that area.
“Those ones we have failed we will not get anything but those ones we have passed, we are expecting the money. However, the areas we have failed is subject to review by next year. Benue has done for very well.”