Office of Vice-President clarifies on K100m cash transfer from IFMIS to FDH Bank

Office of Vice-President clarifies on K100m cash  transfer from IFMIS to FDH Bank

The Office of the Vice-President and Disaster Management Affairs says the general public should not be alarmed by the leaked letter written by the Secretary to the Vice-President and Commissioner for Disaster Management Affairs to the Accountant General requesting for the transfer of K100 million from the IFMIS system to the FDH Holding account, saying this is a normal transaction.

A statement from Office of the Vice-President and Disaster Management Affairs, Charles Wahara says that it operates a holding account at FDH Bank.

“The purpose of this account is to cater for urgent transactions for activities under the Office of the Vice-President pertaining to delegated duties and Disaster Management issues.

“The general public may wish to note that the Office of the Vice-President is funded quarterly and part of the funds are transferred to the operating account at FDH Bank.

“These funds that are transferred are within the approved budget for the Office.

“The Office therefore, seeks formal approval from the Accountant General to facilitate the funds transfer from the IFMIS system to the operating account at the FDH Bank.

“This is a normal practice and is within the confines of the Public Finance Management Act.

“This a Government account and all transactions made under this account are duly approved by the Controlling Officer as it is the case with all standard IFMIS transactions.

“Furthermore, this account is duly audited by the National
Audit Office,” says the statement.

Malawi Exclusive

8 thoughts on “Office of Vice-President clarifies on K100m cash transfer from IFMIS to FDH Bank

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