The Controller and Accountant-General, Akwesi Agyei, has announced plans to end the use of manual cheques and bank letters by public institutions, a move aimed at sealing revenue leakages and improving transparency in government financial management.
Speaking on ongoing reforms, Mr. Agyei highlighted that while the Ghana Integrated Financial Management Information System (GIFMIS) has significantly enhanced financial reporting, some entities continue to bypass the system by processing transactions manually. “While these methods may allow immediate access to funds, they compromise the integrity and transparency of our public financial management system,” he said.
The Controller-General explained that non-use of GIFMIS hinders timely financial reporting, limits real-time decision-making, complicates cash management, and increases the risk of financial irregularities. He added that the department currently spends extra public funds to collect, validate, and manually upload financial data into GIFMIS; a process that is both costly and exposes staff to operational risks.
To address these challenges, the department, in collaboration with the Bank of Ghana and Ghana Interbank Payment and Settlement System, plans to roll out the Economic Funds Transfer System to all commercial banks by the end of the first quarter of 2026. This initiative will result in the complete withdrawal of manual payments and ensure all transactions are processed through GIFMIS.
Mr. Agyei also noted that the adoption of International Public Sector Accounting Standards (IPSAS) has further strengthened accountability, enhanced financial disclosure, and improved public confidence in government reporting.
Source: Starrfm.com.gh
