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How FG saved N10.29trillion – AGF

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The federal government has saved more than 288 billion dollars through the implementation of the Integrated Personnel and Payroll Information System (IPPIS) from April 2007 to date.

The Office of the General Account of the Federation (OAGF) revealed this on Thursday in Abuja when the Chief of the Federation Civil Service visited the office on the exercise of the Peer Review Mechanism of the Departments and Agencies of Ministries (MDA).

The presentation was in charge of the Director of the Department of Information Technology of the OAGF, Mr. Afolabi Ajayi, NAN informs.

Ajayi said that the IPPIS scheme was one of the federal government reform initiatives designed to achieve a centralized payroll system of the federal government.

He said that IPPIS also facilitated the storage, updating, and retrieval of personal records for administrative and pension processing to assist in the planning and budgeting of the workforce, as well as to comply with global best practices.

Ajayi explained that the money saved was due to the difference between the amount the government would have given to those MDAs based on the allocation and the actual amount released and paid through IPPIS.

“The IPPIS has made possible the timely and regular payment of salaries to public servants.

“The system has also facilitated rapid deductions and remittances to the accounts of all interested third parties, such as PFA, NHIS, NHF, and cooperative societies.

“506 MDA with a total workforce of 344,625 is on the IPPIS platform with a gross salary of approximately N49.07 billion as of September 2018,” he revealed.

Ajayi revealed that the federal government had also raised more than $ 10 trillion from the implementation of the Single Treasury Account (TSA) of 1,674 MDA.

He said that under the TSA, the government could save more than N45 billion a month in interests in ways and means it used to pay before the full implementation of the TSA.

Ajayi revealed that to date, N50 billion had been eliminated from commercial banks as a result of the implementation of the CST.

“Other achievements since TSA began to fully operate include the elimination of cash handling costs and the ability to determine the Federal Government’s consolidated cash position.

“There has also been a significant improvement in the liquidity position of the Federal Government, a better mechanism for revenue collection through electronic collection and better cash management capabilities,” he said.

Ajayi said that OAGF was also managing the asset management project, which was established primarily for the monitoring, monitoring, and administration of all fixed assets of the Federal Government.

“The project also has the task of devaluing the assets registered using approved methods of revaluation or depreciation.

“We must also recommend those assets that will be discarded, regenerated or relocated to other centers that need them,” he said.