AGF: Public funds must translate to prosperity

The Accountant-General of the Federation (AGF) and Chairman of the Association of Accountant-Generals of Africa, Dr. Shamsudeen Ogunjimi, has said that every public resource entrusted to financial managers across the continent must translate into real improvements in the lives of citizens.

He noted that the responsibility carried by accountants is enormous because “every Cedi, Franc, Naira, or Dollar entrusted to public officers must ultimately translate into the prosperity of the people,” adding that the decisions made by accountants “directly affect millions of lives.”

Speaking at the Africa Accountant-Generals Conference held at the Accra International Conference Centre in Ghana, Ogunjimi said the long-held perception of accountants as simple record keepers no longer reflects the demands of modern public finance.

His address was contained in a statement issued by the Office of the Accountant-General of the Federation (OAGF) and signed by its Director of Press, Bawa Mokwa.

According to him, today’s financial landscape—shaped by rapid digital innovation, data-driven policymaking, and sweeping global economic shifts—requires accountants to take on expanded responsibilities. He noted that modern accountants “serve as strategic advisors, champions of transparency, and custodians of integrity.”

Ogunjimi stressed that the profession is now central to shaping economic outcomes for both institutions and nations. “Accountants are leaders. Our work is not simply to balance books; it is to balance the needs of today with the dreams of tomorrow,” he said.

He urged accountant-generals and senior financial managers across Africa to remain active participants in strategic decision-making by deploying data to navigate economic shocks, identify growth opportunities, and strengthen accountability systems. He said accountants must see themselves as catalysts for economic growth and national transformation, not administrative figures confined to back-office functions.

The conference brought together senior government officials and leading accounting professionals from across the continent to discuss the evolving role of accountants in a rapidly changing economic environment. Ogunjimi noted that practitioners now play critical roles in risk management, financial forecasting, strategic planning, and managing complex regulatory obligations that guide public finance.

Earlier, economist and entrepreneur, Mr. Tony Elumelu, said he attended not only as a business leader but as someone who strongly believes in Africa’s potential for economic renewal.

He told participants that the continent’s biggest challenge is not a shortage of resources but shortcomings in trust and credibility. “Africa’s greatest obstacle is not the lack of resources but a deficit of trust, integrity, and credibility,” he said.

Elumelu added that the foundation for attracting sustainable capital lies in consistent, transparent, and trustworthy public finance management. “Trust is built through predictability, transparency, and partnership. Trust is the currency of capital. Excellence in public finance is not a luxury—it is a necessity,” he stated.

He called on accountants across Africa to remain vanguards of transformation by advancing digitalization, deepening accountability frameworks, and ensuring that public financial systems support economic progress.

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