Controller and Accountant-General, Mr. Kwasi Agyei, has reiterated plans to migrate government institutions to secure electronic payment systems by the first quarter of 2026.
He said the move would strengthen integrity, efficiency, and transparency in public financial management.
Mr. Agyei disclosed this at a consultative meeting in Accra with Managing Directors of Commercial Banks on the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Interbank Payment and Settlement Systems (GhIPSS) Electronic Fund Transfer (EFT) initiative.
The meeting sought to reinforce collaboration with banks, address outstanding concerns, and ensure stakeholders were prepared for the integration of the system.
Mr. Agyei cited exposure to fraud, reconciliation difficulties, and “operational inefficiencies” associated with manual cheques within government agencies.
He noted that many Ministries, Departments and Agencies (MDAs), and local government authorities continued to rely on manual cheques despite the Public Financial Management Act (921) establishing GIFMIS as the official system for managing public funds.
Failure to use the GIFMIS platform, Mr. Agyei explained, undermines integrity and transparency in financial management and “affects the timely generation of financial reports for decision-making and preparation of the National Accounts of Government.”
“It is therefore imperative that we eliminate the use of manual cheques and fully embrace electronic funds transfer (EFT). This initiative is not merely a technological upgrade; it is a transformative step toward strengthening accountability and efficiency in the management of public funds.
“Transitioning to electronic payments through secure platforms such as the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Interbank Payment and Settlement Systems (GhIPSS) is therefore both timely and essential,” he stated.
Mr. Agyei maintained that the introduction of the system would transform Ghana’s public financial management landscape and strengthen national commitment to transparency, accountability, and fiscal responsibility.
“Our goal is to fully transition to secure electronic payment systems by the end of the first quarter of 2026.
“With [the needed] support and cooperation, we can accelerate this reform and deliver a modern payment regime that enhances accountability, promotes efficiency, and boosts public confidence in government financial operations,” he added.
The Controller and Accountant-Generals Department (CAGD) said it would continue sensitisation and training for government agencies ahead of the final roll-out of the platform.
Second Deputy Governor of the Bank of Ghana, Matilda Asante-Aseidu reiterated the Central Bank’s commitment to digitising operations and payment systems.
She said the GIFMIS-GhIPSS platform would enhance monitoring and accountability, and urged commercial banks to work towards the stated timeline and support MDAs and MMDAs to digitise their operations.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
