By Femi Ogunshola
The Chattered Institute of Treasury Management (CITM) has urged the Federal Government to establish a dedicated teasury management Task Force comprising of experts, professionals and relevant stakeholders.
Mr Olumide Adedoyin, the Registrar, CITM made the call at a professional training programme organised by the institute in Abuja.
Adedoyin said the task force will be responsible for conducting a comprehensive needs assessment of the current treasury management practices, identifying gaps, and formulating actionable recommendations.
He also called on the president to conduct an Independent audit on treasury management which should be undertaken to assess the state of affairs accurately.
” This audit will help identify areas of inefficiency, financial leakages, and any potentially fraudulent activities and the findings will serve as a basis for targeted interventions and reforms, ” he said
He said there was need to strengthen regulatory framework governing treasury management, this includes updating existing laws, regulations, and guidelines.
This, he said, was to align with international best practices and improve transparency, accountability, and risk management.
He said the emergency declaration must emphasize the urgency and commitment to address the existing challenges.
This, according to him, would further provide strong mandate for implementing necessary reforms, adding that the president should also
establish a treasury management to drive his reform agenda.
According to him, the government should establish a dedicated teasury management Task Force comprised of experts, professionals, and relevant stakeholders.
Adedoyin further called for Investment in robust technology infrastructure to support efficient treasury operations, adding that there was need to Implement modern treasury management systems.
He said this would help to automate processes, enhance data integrity, and facilitate real-time monitoring of financial transactions.
He added that it would improve efficiency, reduce manual errors, and enhance the security of treasury operations.(NAN)
