*CEO says Nigeria has lost N1.5 trillion to unprofitable training, technology
The first of its kind Academy Hostel in Africa, Mold Treasury Academy, equipped with modern state-of-the-art technology has been commissioned in North-West Nigerian state of Kaduna.
The 80-room facility is located in the central business district of Kaduna City, off the posh Independence Way.
Speaking to newsmen shortly after the commissioning, CEO of Mold Treasury Academy, Mr. Emmanuel Onyekwere explained that the modern facility is a product of 20 years of hard work and research.
He explained that the structure would further enhance budgeting in the country in view of the trainings that would be received from the academy.
Speaking earlier before the commissioning, he said governments at all levels had wasted resources in acquiring foreign technology not compatible with Nigeria.
“Governments at all levels in Nigeria have spent enormous resources in the acquisition of foreign technology products not suited to our environment to implement public sector financial management reforms with little or no impact in the provision of comprehensive and timely budget implementation performance reports,” he added.
The CEO further reeled out a worrisome statistic that shows that Nigeria has lost N1.5 trillion in the last 20 years with technology products and training that add no value to economic management in Nigeria.
“In order to bridge this gap and save Nigeria this colossal losses, improve local content and ownership, Mold Treasury Academy was established with the latest technology tailored to the needs of the federal, states and local government areas in Nigeria,” he added.
Speaking further, he said Mold Academy is the first organization worldwide to develop and use Government Integrated Financial Management Information System (GIFMIS) to conduct training.