save billions by tightening control over government finances
Public finance management is the fiscal backbone of any government, but keeping finances in order can be challenging when oversight is divided among dozens of ministries and agencies. Officials need a top-down view of how much money they have, where it is kept and how it is being used.
For Nigeria, Nortal built the Government Integrated Financial Management Information System (GIFMIS), a far-reaching IT tool that covers all aspects of budget preparation, as well as the execution and management of the government’s financial resources.
Implementing GIFMIS allowed Nigeria to find more than 7 billion missing euros, eliminate 20,000 government bank accounts, cut 60,000 “ghost workers” from the state payroll and save 1.3 million euros per month in bank transaction fees.
Based on the GIFMIS experience, Nortal is ready to help other governments achieve similar levels of transparency and fiscal control.
- Top-down oversight of all public spending
- Massive fiscal savings
- Increased transparency
- Better positioning with the World Bank, IMF
- Healthier national economy
- Heads of government
- Finance ministries
- Transparency advocates
- Thanks to GIFMIS that Nortal built, Nigerian government managed to save more than 8 billion euros in a couple of years.