The Federal Ministry of Finance has confirmed that Adebanji Adeniyi, the CFO of GTBank and a Fellow of the Institute of Chartered Accountants of Nigeria, is joining the steering committee of the Efficiency Unit set up by the ministry to manage public expenditure.
GTBank is widely regarded as having one of the lowest cost to income ratios in the banking sector.
The Efficiency Unit has been tasked with helping the government spend more efficiently to ensure that available funds are effectively channelled towards the country’s priorities.
Savings in public expenditure will enable the government to optimise the balance between recurrent and capital expenditure to release funds for investment to address key infrastructure needs.
Adeniyi joins other members of the steering committee who include the Head of the Civil Service of the Federation, Winifred Ekanem Oyo-Ita; the Accountant-General of the Federation, Alhaji M. Idris; the Auditor-General of the Federation, Samuel T. Okura; the Director-General of the Budget Office of the Federation, Alhaji Aliyu Gusau; Alhaji Kabir Mohammed (former ICAN President); Kunle Elebute (Partner at KPMG); and Seyi Kumapayi (CFO of Access Bank).
The project, being led by Patience Oniha, will also receive support from the World Bank.
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