Nigeria : Country Financial Accountability Assessment

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collection.link.56
https://openknowledge.worldbank.org/handle/10986/2164
collection.name.56
Country Financial Accountability Assessment
dc.contributor.author
World Bank
dc.date.accessioned
2013-07-23T20:40:08Z
dc.date.available
2013-07-23T20:40:08Z
dc.date.issued
2000-09-06
dc.date.lastModified
2017-12-13T12:33:05Z
dc.description.abstract
The Federal Government of Nigeria retains the vestiges of good systems for planning, budgeting, managing and controlling public resources. But their performance has deteriorated to such an extent that they provide negligible assurance that moneys are used entirely for their intended purpose. The same is true at the state level. To return to an acceptable level of financial accountability will require sustained action over several years. In the interim, risks of waste, diversion and misuse of funds are assessed as high. This has clear implications for both Government and the Bank: the former needs to improve financial accountability along the lines outlined in this report; and the latter needs to support this process and in the meantime to build explicit risk minimization actions into all its Nigerian operations. Among the recommendations presented for the public sector are to address: the calculation, control, management, protection, reporting and disclosure of national oil revenues; the adequacy of procedures for drawing money from the Consolidated Revenue Fund and for ensuring that transactions on accounts held at the Central Bank are properly authorized, managed and audited; the legal provisions requiring the public disclosure of assets and other valuable interests of public officials and politicians and the recovery of public sector assets illegally acquired; implementation and enforcement of the Anti-Corruption Act; and the legal provisions and enforcement arrangements for combating money laundering including the adequacy of central bank controls over commercial banks. Among the recommendations made to improve private sector participation are to: conduct a review of corporate governance and private sector financial accountability along the lines of the King Committee in South Africa; update the Companies and Allied Matters Act so that it reflects such principles and strengthens company audit; accelerate the issuance of accounting standards in areas where there are none at present but are available under International Accounting Standards (IASs) promulgated by the International Accounting Standards Committee (IASC); establish monitoring and enforcement mechanisms to ensure that all listed companies comply with national and IASs. In this regard, there is need to sufficiently strengthen the NASB's technical and professional capabilities; and ensure that the procedures for filing company information and providing public access to it are adequate.
en
dc.identifier
http://documents.worldbank.org/curated/en/2000/09/2335889/nigeria-country-financial-accountability-assessment
dc.identifier.uri
http://hdl.handle.net/10986/14495
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTABILITY
dc.subject
ACCOUNTANTS
dc.subject
ACCOUNTING
dc.subject
ACCOUNTING RECORDS
dc.subject
ACCOUNTING SYSTEMS
dc.subject
ACCOUNTS
dc.subject
ACCRUALS
dc.subject
ANTI-CORRUPTION
dc.subject
APPROPRIATIONS
dc.subject
ATTESTATION
dc.subject
AUDIT REPORTS
dc.subject
AUDITING STANDARDS
dc.subject
AUDITORS
dc.subject
AUDITS
dc.subject
AUTHORITY
dc.subject
AUTHORIZATION
dc.subject
BANK ACCOUNTS
dc.subject
BILLS
dc.subject
BUDGET CONTROL
dc.subject
BUDGET DEFICIT
dc.subject
BUDGET EXPENDITURES
dc.subject
BUDGET FORMULATION
dc.subject
BUDGET IMPLEMENTATION
dc.subject
BUDGET PROCESS
dc.subject
BUDGET REFORM
dc.subject
BUDGETARY RESOURCES
dc.subject
BUDGETING
dc.subject
CAPITAL BUDGETS
dc.subject
CAPITAL PROJECTS
dc.subject
CASH MANAGEMENT
dc.subject
CENTRAL AGENCIES
dc.subject
CHECKING
dc.subject
CIVIL SERVICE
dc.subject
COMMERCIAL BANKS
dc.subject
COMMERCIAL ENTERPRISES
dc.subject
CONSTITUTION
dc.subject
CONSTITUTIONAL ARRANGEMENTS
dc.subject
CONTRACTORS
dc.subject
CORPORATE GOVERNANCE
dc.subject
CORRUPTION
dc.subject
DEBT
dc.subject
DEBT MANAGEMENT
dc.subject
DECREE
dc.subject
DEFICITS
dc.subject
DEMOCRACY
dc.subject
DEMOCRATIC REGIME
dc.subject
DEPOSIT INSURANCE
dc.subject
DISCLOSURE
dc.subject
EMPLOYMENT
dc.subject
ENACTMENT
dc.subject
ENFORCEMENT MECHANISM
dc.subject
EXPENDITURE
dc.subject
EXPENDITURE
dc.subject
EXPENDITURE
dc.subject
EXPENDITURE MANAGEMENT
dc.subject
FEDERAL GOVERNMENT
dc.subject
FINANCIAL ACCOUNTABILITY
dc.subject
FINANCIAL CONTROL
dc.subject
FINANCIAL DISCIPLINE
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL REGULATIONS
dc.subject
FINANCIAL SECTOR
dc.subject
FINANCIAL SERVICES
dc.subject
FINANCIAL STATEMENTS
dc.subject
FINANCIAL TRANSACTIONS
dc.subject
FISCAL
dc.subject
FISCAL DISCIPLINE
dc.subject
FISCAL TRANSPARENCY
dc.subject
FISCAL YEAR
dc.subject
GOVERNMENT ACCOUNTING
dc.subject
GOVERNMENT AGENCY
dc.subject
GOVERNMENT AUDITING
dc.subject
GOVERNMENT DEPARTMENTS
dc.subject
GOVERNMENT FINANCE
dc.subject
GOVERNMENT MINISTRIES
dc.subject
GOVERNMENT OFFICIALS
dc.subject
GOVERNMENT POLICIES
dc.subject
GOVERNMENT'S PRIVATIZATION PROGRAM
dc.subject
HARD BUDGET CONSTRAINTS
dc.subject
HOUSING
dc.subject
INSTITUTIONAL FRAMEWORK
dc.subject
INSTITUTIONAL WEAKNESSES
dc.subject
INSURANCE
dc.subject
INTERNAL AUDIT
dc.subject
INTERNAL AUDITORS
dc.subject
INTERNAL CONTROLS
dc.subject
INTERNATIONAL ACCOUNTING STANDARDS
dc.subject
INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
dc.subject
LACK OF TRANSPARENCY
dc.subject
LEGAL AUTHORITY
dc.subject
LEGAL FRAMEWORK
dc.subject
LEGAL PROVISIONS
dc.subject
LEGISLATION
dc.subject
LEGISLATORS
dc.subject
LEGISLATURE
dc.subject
LEGISLATURES
dc.subject
LIQUIDATION
dc.subject
MARKETING
dc.subject
MINISTRY OF FINANCE
dc.subject
OPERATING EXPENSES
dc.subject
PARASTATALS
dc.subject
PLANNING RESEARCH
dc.subject
POLITICAL INTERFERENCE
dc.subject
POLITICIANS
dc.subject
PRESIDENCY
dc.subject
PRIVATE SECTOR
dc.subject
PRIVATIZATION
dc.subject
PUBLIC ACCOUNTABILITY
dc.subject
PUBLIC CONTRACTS
dc.subject
PUBLIC DISCLOSURE
dc.subject
PUBLIC ENTERPRISES
dc.subject
PUBLIC EXPENDITURE
dc.subject
PUBLIC FINANCE
dc.subject
PUBLIC FUNDS
dc.subject
PUBLIC OFFICIALS
dc.subject
PUBLIC PROCUREMENT
dc.subject
PUBLIC RESOURCES
dc.subject
PUBLIC SECTOR
dc.subject
PUBLIC SERVANTS
dc.subject
PUBLIC SERVICE
dc.subject
PURCHASING
dc.subject
REGULATORY REGIMES
dc.subject
REPORTING
dc.subject
RETIREMENT
dc.subject
REVENUE MANAGEMENT
dc.subject
SENATE
dc.subject
TAX
dc.subject
TAX PAYMENTS
dc.subject
TELECOMMUNICATIONS
dc.subject
VETO
dc.subject
WAGES FINANCIAL MANAGEMENT
dc.subject
FINANCIAL MANAGEMENT
dc.subject
BUDGETING
dc.subject
BUDGET CONTROL
dc.subject
ACCOUNTING SYSTEMS
dc.subject
RISK MANAGEMENT
dc.subject
POLITICAL LEADERSHIP
dc.subject
ENFORCEMENT POWERS
dc.subject
CIVIL SERVICE REFORMS
dc.subject
FINANCIAL CONTROL
dc.subject
CORRUPTION
dc.subject
BUDGET PROCESS
dc.subject
PUBLIC RESOURCES MANAGEMENT
dc.subject
RECORDS MANAGEMENT
dc.subject
PUBLIC ACCOUNTING
dc.subject
LEGISLATIVE FRAMEWORK
dc.subject
PUBLIC ADMINISTRATION AUTOMATION
dc.subject
JUDICIAL PROCESS
dc.subject
GOVERNANCE
dc.subject
PRIVATE SECTOR PARTICIPATION
dc.subject
INSTITUTION BUILDING
dc.subject
CORPORATE GOVERNANCE
dc.subject
FINANCIAL SERVICES
dc.subject
EXPERTISE
dc.subject
REGULATORY ENVIRONMENTS
dc.subject
INVESTMENT ENVIRONMENT
dc.subject
ACCOUNTING STANDARDS
dc.subject
INTERNATIONAL STANDARDS
dc.subject
PUBLIC DISCLOSURE
dc.title
Nigeria : Country Financial Accountability Assessment
en
okr.crosscuttingsolutionarea
Public-Private Partnerships
okr.doctype
Economic & Sector Work :: Country Financial Accountability Assessment
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/2000/09/2335889/nigeria-country-financial-accountability-assessment
okr.globalpractice
Finance and Markets
okr.globalpractice
Governance
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000094946_03051504045262
okr.identifier.internaldocumentum
2335889
okr.identifier.report
25732
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2003/05/23/000094946_03051504045262/Rendered/PDF/multi0page.pdf
en
okr.region.administrative
Africa
okr.region.country
Nigeria
okr.sector
General public administration sector
okr.sector
Finance
okr.topic
Private Sector Development :: Business Environment
okr.topic
Banks and Banking Reform
okr.topic
Governance :: National Governance
okr.topic
Private Sector Development :: Business in Development
okr.topic
Public Sector Economics and Finance
okr.topic
Finance and Financial Sector Development
okr.topic
Public Sector Development
okr.volume
1

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