A capital market expert in Nigeria, Mr Godwin Anono, says the open treasury portal will promote transparency in governance.

Anono, who is also the President of Standard Shareholders Association of Nigeria stated this during an interview with Journalists on Monday in Lagos.

He applauded the federal government for launching the open treasury portal, towards promoting entrenched transparency in government finances.

“Although the initiative is novel, but could engender trust in government as the inauguration of such treasury portal will enable the general public to track governmental cash flow,” he said.

He further advised that the lower tiers of government should commence the replication of similar policies in their domains.

“Imitating such treasury portal in states and local government is imperative in order to entrench this transparency.

“The majority of our people reside in the rural areas and need some forms of accountability in managing scarce resources,” he said.

It would be recalled that the Federal Government had launched the Open Treasury Portal, with the hope of making public, the daily treasury statement.

The project is expected to highlight how monies that come into government coffers are spent.

Peace PIAK

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