I.The OAGF has never taken out an insurance policy cover on any of the GIFMIS IT equipment or information processing facilities which are worth billions of Naira since the implementation of the GIFMIS project in 2012
II.The OAGF does not have policies or classification of assets with respect to insurance coverage leaving the project assets vulnerable.
These inadequacies were due to lack of sound risk management strategy, as the project team has not adequately carried out a risk assessment to identity what can go wrong with the project infrastructures and how to mitigate these risks.
The Accountant General of the Federation is requested to:
I.Evaluate the total IT Infrastructure and obtain an insurance cover to indemnify risks and protect the GIFMIS system from financial and economic loss.
II.Otherwise, apply sanctions relating to gross misconduct specified in paragraph 3129 of the Financial Regulations.
N/A
N/A
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