The Finance and Accounts Department is statutorily empowered by the Constitution of the Federal Republic of Nigeria, 1999, and the Financial Regulations as revised up to 1st January 2000 to manage the finances of the Ministry and maintain accurate accounting records.
The Department is subdivided into two Divisions namely Finance & Accounts and Budget Division, with the following duties.
Finance and Accounts Division:
- Management of Budget, Finance and Accounting activities of the Ministry;
- Receipt of revenue and payment for goods and services;
- Maintenance of proper accounting books and records;
- Operation of official Bank Accounts (i.e. Overhead and Capital Accounts);
- Preparation of daily/periodic Financial Reports to Management;
- Reconciliation of Bank accounts(where necessary);
- Co-ordination, supervision and responding to Federal Audit Queries;
- Reconciliation of Bank Statements with Records in the Ministry’s Overhead and Capital Accounts;
- Representation of the Ministry at the Public Accounts Committee (PAC) of the National Assembly; and
- Representation of the Ministry on the National and International Financial Reporting Council.
Budgetary Division:
- Generalizing and initiating policies on budget matters;
- Supervision, coordination and appraisal of budget proposals from all departments and parastatals;
- Budget monitoring of the ministry and parastatals; projects all over the country;
- Advising on Budgetary matters.
