The federal government is victimization a part of the stolen funds recovered from people who looted the economy to finance the 2017 budget, President Muhammadu Buhari has said.
Buhari who spoke at the 22nd Annual Conference of the Association of National accountants of Nigeria in abuja on Tuesday was represented by the Accountant General of the Federation, Alhaji Idris Ahmed.
He said the govt had resolved to use some of the recovered stolen funds to finance the 2017 budget.
Buhari said, “My Administration has practically done a lot of in delivering on its core focus of diversifying the economy.
“Part of the stolen funds recovered is getting used by government to finance the 2017 budget.
“Power generation has peaked at an incomparable high of 7,001 Megawatts within the third quarter of 2017.”
The president additionally disclosed that his administration was aiming at the production of 10,000 Megawatts of electricity by the year 2020.
He same the firm implementation of the Treasury Single Account since Sept 2015 had considerably increased transparency within the Federal Government’s Public financial Management System.
Speaking at the conference, ANAN Chairman of Council, Alhaji Shehu Ladan, pledged the support of the association to the government’s economic agenda.
Ladan said, “The accountant is essential. we are calling on our members to extend their integrity quotient. As an association, we tend to square measure strengthening our discipline mechanism to ensure that members found wanting don’t go unpunished.”
He said it absolutely was necessary for the govt to confirm the reinvestment of the recovered stolen funds to create for faster recovery of the economy.