The Federal Government has approved a review of the Financial Regulations in the public service.

The Accountant-General of the Federation (AGF) Idris Ahmed made this known in Abuja yesterday while inaugurating an interministerial Committee to review the Financial Regulation.

Ahmed charged the Committee to review and recommend appropriate Duty Tour Allowance, estacode  allowance, repatriation allowance and overtime allowance.

They are to also review and recommend appropriate imprest amount for public servant and political office holders.

The Committee is also charged to review and recommend more sanctions against infractions of the Financial Regulations and other rules.

The review was recently approved by the Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed.

A statement from the Office of the Accountant-General of the Federation (OAGF) said: “The revised Financial Regulation is meant to be in tune with current realities and best practices.”

Financial Regulations are legal instruments that empower and guide public officers in carrying out government financial transactions.

Speaking at the inauguration, the Accountant-General of the Federation said: ”It became imperative to carry out the review as the current Financial Regulations, which came into effect in 2009, is no longer relevant and useful in driving the public financial management reforms of the government”.

Idris emphasised the government’s effort at entrenching probity, accountability and transparency in the management of public financial resources.

He urged members of the Committee to consult widely and come up with Financial Regulations that will stand the test of time”.