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Publish Date : 24-Mar-2015

The European Union (EU) has financed the provision and installation of sophisticated and modern software for the ECOWAS Parliament's internal management system for €2.48 million. Called ECOLink, the software, would remove weaknesses in procurement system, internal controls, financial reporting and external audit by discarding the manual process. Speaking at the launch of ECOLink in Abuja, the Speaker of the ECOWAS Parliament, Senator Ike Ekweremadu, said the development would cut overhead costs.

Ekweremadu noted that there are the key benefits of efficiency in time management as well as responsibility in resource management, beyond the need for the parliament to implement best practices in running its offices. He said the ECOLink would also make sure that the minimal resources at the parliament's disposal are better used nd checking or control of abuse is better guaranteed.

He added : "Parliaments, as you all know, are saddled with the responsibility of oversight, especially in the area of financial expenditure. This is with the aim of ascertaining that resources as appropriated are judiciously used, Internally, the ECOWAS Parliament undertakes control of the implementation of its budget. The standing Committee on Finance and Budget Control undertakes that task. Twice every year, this Committee comes on verification exercise of budget implementation at the General Secretariat of the Parliament. The introduction of the ECOLink will no doubt simplify the task of this Committee. It will also give adequate confidence to the plenary of the Parliament that the report we receive is enabled by modern technology and in line with global best practices".

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