The Chartered Institute of Treasury Management has advocated a functional audit framework that will address the porous back end of the nation’s Treasury Single Account, TSA.
This is as the parliament challenges the Institute to prove its mettle by exposing any individual or group aiming to game and compromise the system.
After many years of legislative effort, the bill seeking to establish the Chartered Institute of Treasury Management became law in December, 2021.
Its mission is to institutionalise a preventive mechanism against fraud, outright embezzlement, misappropriation and misapplication in the management of the Treasury.
Some nine months, after the Institute is inducting members while also recognising the contributions of the parliament.
The Chief Whip of the House of Representatives, Muhammed Monguno was the sponsor of the bill.
He underscores the place of the Institute in taming the hyra-headed problem of corruption in the country.
The Institute seeks the support of the federal government through the office of the Head of the Civil Service of the Federation and Secretary to the Government for the entrenchment of its curriculum among staff.
It recognises the impact of a centralised Treasury but urges the government to address the back end challenges
The National Assembly wants the Institute to distinguish itself in the execution of its mandate.