Recession: Nigerian govt. launches OneBook solution to cut down cost
The Nigerian government has launched “OneBook, Public Sector Accounting Solution” as a strategy to reduce cost and promote financial discipline among managers of public sector resources. This is coming weeks after the release of Economy Recovery Plan by the government.
Minister of Finance, Kemi Adeosun performed the ceremony in Abuja on Tuesday.
“I am very excited today to be launching the OneBook software solution,” she said.
“It is tailored for the public sector, so it is everything for budgeting, warrant issuance, payments, reconciliation reports and is going to serve our states government a lot of money in developing individual solutions.”
According to Adeosun, in this time of recession the software will help states to save and make open the liabilities and assets of the state.
“At a time when resources are quite bleak there is need to save money and I think what we believe is that this particular software solution is going to save a lot more money for the state.
“Issues of how much a state owes will no longer be in dispute. Issues of how much a state has in terms of assets will no longer be in dispute. The real advantage to us as managers of the economy is the ability to train, cross training between states. Different Accountant Generals preparing notes, bench marking because everybody’s account will look the same and should be prepared on the same basis. It will make us much more credit worthy.”
The minister said she is proud to be part of the history of OneBook solution.
“This is an excellent innovation and I am very proud to be part of it.”
In his remark, the Accountant General of the Federation, Ahmed Idris, extoled OneBook Solution and recommended it to all tiers of government.
“I came across this new innovation software solution last week and having gone through the basic ingredient of the solution. I find it to be robust, to be adequate and concise to the need of public sector. In view of this it capacity I recommend it to the three tiers of government.”
The Chairman, Commissioners Forum of FAAC, Yunusa Mahmoud, said OneBook would entrench financial discipline and assist financial managers to run their states very effective.
“This software is good and it will assist us (commissioners) to run the states very well.”
The OneBook, Public Sector Accounting Solution is software that encompasses all the financial details of a government and was developed by Integrated Software Service Limited (ISSL).
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