In Africa, the processes of democratic consolidation are endangered in spite of various administrative and financial reforms having been implemented to reinforce fiscal consolidation and strengthen governance in the public sector. This then requires investigating the efficacy of these ingenuities in situations where the policy-makers wield considerable political and economic power. It means looking at the processes of reforming public financial management by looking at local people's traditions and using their indigenous knowledge (IK). This paper, using qualitative data and contents analysis, illustrates how public funds can be insulated from mismanagement using IK. Findings show that the use of African IK and resources depicted by oath taking, swearing/reverence to deities is efficacious in reducing fraud and mismanagement of public funds. Thus, IK nurtures and enhances societal ethical and moral standards and values while ensuring the promotion of acts of prudency, probity, accountability and transparency.