FG Warns Ambassadors-Designate Against Fraud

09.02.2008

The federal government has said that ambassadors found culpable in the misappropriation of funds would be sanctioned. The Accountant-General of the Federation, Mr. Ibrahim Dankwambo, issued the warning on Friday in Obudu, Cross River State, at a retreat for ambassadors-designate and their spouses, organised by the Ministry of Foreign Affairs.

In a paper titled Accounting Practices and Standards, Dankwambo stressed that “adherence to accounting practices will surely engender prudent financial management, while violation of these practices attracts sanctions.”

He directed the ministry to start the process of automating financial operations of all the embassies. “Automation enhances timely, accurate and complete financial processing and reporting,” Dankwambo noted.

He suggested that proper budgetary and accounting system be established in the missions to enhance internal control, acceptability and transparency, stressing that “these essential management control tools, if put in place, will minimise waste and fraud.”

In his contribution, the Executive Secretary of the Nigeria Investment Promotion Council (NIPC), Alhaji Mustafa Bello, called for the establishment of economic/commercial desks in Nigerian missions.