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Finance Management & Control Department

Overview

Finance Management and Control (FMC) Department is responsible for all financial dealings of the Agency and provide advice to the Chief Accounting Officer on matters relating to finance. The department is headed by a Director who is responsible to supervise and coordinate all the activities in the department.

Objective

The main objective of the department is to provide an effective and efficient accounting system and control in the Agency.

Structure

The Structure of the department consists of the following:

  • Recurrent Unit
  • Final Accounts Unit
  • Funds Unit

Functions

The main functions of the department include the following:

  • Ensure transparency in sourcing for revenue with which the Agency executes its programs.
  • Ensure transparency in disbursement and accounting for public funds
  • Responsible for all matters relating to finance as well as management control functions of the Agency.
  • Advice the Chief Accounting Officer on major finance in-flows and expenditure(s).
  • Responsible for the safekeeping of all security documents, payment instruments and inventory accounting.
  • Pay-roll maintenance and payment of Salaries/Allowances.
  • Ensure appropriate expenditure controls in conformity with vote book balance and other related rules.
  • Process and pay all approved expenses in conformity with extant rules.
  • Render monthly accounting returns of revenue (if any) and expenditure including transcript to Office of the Accountant General of the Federation (OAGF).
  • Reconciliation of all the Agency’s Accounts and preparation of financial reports.
  • Remit revenue generated (VAT, WHT, PAYE) and other miscellaneous Revenues to FIRS and the Sub Treasury of the Federation respectively on monthly basis.