The Office of the Accountant-General of the Federation (OAGF) has clarified reports suggesting that the Federal Government issued a six-month ultimatum to the World Bank over loan-related processes.
In a statement issued by the Director of Press and Public Relations, Bawa Mokwa, the OAGF explained that comments made by the Accountant-General of the Federation, Shamseldeen Babatunde Ogunjimi, during a recent meeting with a World Bank delegation were misinterpreted.
The office said the Accountant-General’s remarks were intended to emphasise the need for timely processing of “no objection” requests by the OAGF, in support of Nigeria’s development financing and project implementation timelines.
It clarified that the funds being accessed are loans, not grants, and therefore require efficient administrative processes to ensure projects are executed within approved fiscal cycles.
The OAGF stressed that at no point did the Accountant-General issue any threat or ultimatum to the World Bank, noting that the comments were aimed at strengthening collaboration and improving mutual understanding between both parties.
According to the statement, the discussion also highlighted the importance of timely approvals for the deployment of project accountants, assistant project accountants, and internal auditors from the Treasury for World Bank-funded projects with implementation timelines exceeding six months.
The office reaffirmed its commitment to maintaining a strong and cooperative relationship with the World Bank and other development partners in advancing transparency, accountability, and effective public financial management in Nigeria.
It also reiterated ongoing reforms within the OAGF, including digitalisation of financial processes, improved audit reporting timelines, and strengthened institutional efficiency in line with global best practices
