by By Admin
Independent Verification Agents (IVA) from the World Bank are undertaking a verification exercise as part of the validating criteria of the World Bank State Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme for results. It is a programme supported by the World Bank in collaboration with the Federal Ministry Finance and the Office of the Auditor General of the Federation aimed at improving transparency and accountability in governance for sustainable growth and development.
Speaking at the meeting held at the Conference Room of the Ministry of Finance, leader of the World Bank IVA Team to Cross River, Mrs Isioma Bola-Audu said the team is in Cross River to assess the state’s achievement of the Disbursement-Linked Results (DLRs) in accordance with the Annual Performance Assessment (APA) guidelines and Disbursement Linked Indicators (DLIs) verification protocols.
Bola-Audu noted that the programme has nine DLIs that attracts grants for State’s that are able to meet the DLIs as an incentive for running a transparent, accountable and sustainable governance policy.
Stating further that Cross River State is one of a handful of the 36 states that has met eligibility of the programme by submitting and publishing online her Annual Budget and Audited Financial Statements in a timely and decent manner, thereby qualifying for the World Bank grant. Further to the State’s qualification, the IVA team will verify the state’s performance in 9 different categories of best governance practices.
“We have seen remotely that Cross River State has done well in achieving the eligible criteria and we are here to verify the Disbursement Linked Indicators in accordance with the verification protocols” She stated.
Cross River State Commissioner for Finance, Mr Asuquo Ekpenyong Jr in his remarks thanked the World Bank team to the state and assured that the administration will never deviate from running a transparent, accountable and sustainable government in line with the State’s Public Finance Management Laws and the State’s Fiscal Responsibility Law as passed and assented to.
The Commissioner stressed that Cross River State has been able to show that governance can be run in a transparent, accountable & sustainable manner which is why the state succeeded in qualifying for the World Bank’s grants.
The Cross River State’s SFTAS Steering Committee is Chaired by the Ministry of Finance, comprising the Internal Revenue Service, Office of the Accountant General, Bureau of Due Process & Procurement, Budget Office, Office of the Head of Civil Service and Debt Management Department.
