June 14, 2024

Navy Finance Chief Unveils Book on Public Finance System

3 min read

The Chief of Account and Budget of the Nigerian Navy, Rear Adm. Kashimu Bushi, on Thursday presented to the public a book titled, Fundamentals of Nigerian Public Finance and Accounting”.

The book is the third in the series that the author, who is a Phd holder in Accounting and Finance will be published.

In his remarks, Bushi said the book was written in response to the need to adequately prepare young graduates and newly employed accountants in public sector for the job.

He said he also realised that throughout his 29 years of service in the public sector and indeed in the Nigerian Navy, most work experiences in different sphere of endeavours were not documented.

According to him, accounting graduates are not exposed to the practical issues in public sector accounting and those that are newly employed in the public sector are not well equipped with the knowledge of public sector financial management and accounting.

“Even public sector accountants are barely exposed to the regulatory aspect of public sector accounting, which often serves as a guide to accounting functions.

“Suffice to state that most accountants in government sectors improve their knowledge and skills of public financial management and accounting through safe efforts.

“Therefore, there is need to involve professional training of the public accountants.

“This informs the publication of this book to add value to the existing body of knowledge in the field of public finance and accounting in Nigeria.

“The accountants, as we know, are the key driver of government financial management system, which is key to economic development and prosperity because all policies are hinged on finance, budget and the accountants are the key implementers of our budgets,” he said.

Bush’s said that getting it right at the training stage would help the finance managers and accountants to have the knowledge of implementing policies effectively and would impact the achievements or success of the budget.

He added that developing the knowledge and skills of accountants would help in improving the performance of the national budget.

According to him, the book provides the requisite knowledge on public sector financial management and accounting.

The Chief of Naval Staff, Admiral Gambo represented by Rear Adm. Okon Eyo, who described the author as forthright officers with high sense of dedication and passion to service.

Eyo said the senior officer had continued to make the Nigerian Navy proud both in service to navy and contribution to national development, adding that Rear Adm. Bushi was a disciplined officer and a goal-getter.

According to him, it is a clear reflection of the attitude he brings to bear in his primary responsibility as the Chief of Accounts and Budget and the books that are churn out.

“He is quite becoming a prolific writer because this is the third book in quick succession and they are all on financial subjects.

“So I think he is trying to share his experience and the knowledge he has gathered both in classroom as students and practically on the on the job so people can learn from it,” he said.

The Chairman, Senate Committee on Navy, Sen. George Sekibo, commended the author for giving back to the public his wealth of knowledge through the book.

Sekibo charged the author to continue to write more books so that Nigerians could learn and benefit from his knowledge as the country would be better for it.

The book is presented to the public by the Institute of Governance and Leadership Studies in Africa (IGLSA). The Director General of the institute, Dr. Lanre Adebayo charges public office holders and Nigerians in general to use the book as an instrument of budget and financial Development. Dr. Adebayo added that utilizing the book will enhance public confidence in public finance management.

Reviewing the book, Prof. Ibrahim Saleh, Deputy Dean, Faculty of Management Sciences, Federal University, Kashere, Gombe State highlights the major chapters and summary of the book.

A lecture with the theme: Public Financial Management and Accounting: Impact on the Nigerian Economy’ was delivered by Prof. ABC Akujuobi, a former Head of the Financial Department, Federal University of Technology, Owerri.

Emir of Lafia, Hon. Justice Sidi Bage Mohammed 1, and Emir of Kano, Alhaji Aminu Ado Bayero and other prominent Nigerians including Hon. Abike Dabiri, DG Nigerian Diaspora Commission graced the occasion.

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