Oyetola inaugurates software application to boost financial accountability

Gov. Adegboyega Oyetola of Osun, on Friday inaugurated Integrated Financial Management Information System (SIFMIS), to strengthen the state’s financial management of the treasury.

Oyetola said that the SIFMIS initiative was to curb corruption in the public service and to build an efficient financial system in the state.

The governor said that the application would henceforth serve as a potent weapon to rid the system of corruption, unnecessary bottlenecks and as a catalyst to the administration’s development strategy.

Oyetola also said the initiative would further help the state to instil financial discipline, be a player in global financial best practices and a model in financial efficiency in the nation.

“The State Integrated Financial Management Information System is a financial application that will enhance our budgetary efficiency.

“It is a potent weapon for achieving our resolve to rid our system of corruption and unnecessary bottlenecks.

“This application is a catalyst to our development strategy, which is targeted at providing prosperity and better life and services for our people”, he said.

Oyetola, while commending the European Union and the World Bank for their support in building the SIFMIS, said that the collaboration had helped the state to develop a system that would make its bureaucracy efficient and put its financial system on auto pilot.

In his remarks, the Commissioner for Finance, Mr Bola Oyebamiji, commended the governor in the way and manner he has been managing the economy of the state.

Oyebamiji, who is the Chairman of the SIFMIS Committee, said the initiative would give the state a strong foundation for e-governance, quality data management and improve financial reporting through full IPSAS Accrual Accounting Standard.

Mr Gabriel Oginni, the SIFMIS Project Manager, said the sole objective of the application was to improve efficiency in financial transactions and reporting through effective utilisation of simple but robust automated system.