New policy mandates presidential approval for state relief, waivers
If the president denies approval, the finance minister will act based on directives from the president.
Ministry of Finance on Wednesday issued a new policy requiring government offices and the tourism ministry to obtain presidential approval before granting relief, benefits, or waivers related to financial transactions.
The policy outlines the procedures to be followed for such requests.
For government offices, excluding local councils, the process includes the following steps:
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The matter must first be referred to the Attorney General's Office for review.
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A letter detailing the Attorney General's opinion, along with relevant documents, must be submitted to the finance ministry.
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The finance minister will determine whether to reject the request or proceed. If the minister supports the request, presidential approval is required.
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If the president denies approval, the finance minister will act based on directives from the president.
The policy also stipulates that any relief or waiver related to rent payments under the Tourism Act, penalties for non-payment, or accrued interest must have presidential approval. Additional conditions for tourism-related financial transactions include:
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The full initial payment or upfront payment must be completed before any relief is granted.
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If the upfront payment is not made within 45 days of the ministry's request, no relief or waiver will be provided.
Local councils, however, are exempt from seeking presidential approval for granting relief or amnesty. Instead, councils are required to:
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Approve relief or waivers through a meeting attended by council members.
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Ensure the council's financial officer submits all relevant documents for consideration.
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Notify the finance ministry and the Local Government Authority (LGA) within seven days of granting relief or waiver.
