Finance and Account
Finance and Account
Finance & Accounts Department is one of the Seven Departments of the Institute that is saddled with the responsibilities of ensuring prudent implementation of the Institute’s appropriated budget.
The Finance and Accounts department is where Corporate Governance of the Institute is largely domiciled. This is because the Department is saddled with the responsibilities of organizing the financial and accounting affairs, including the preparation and presentation of appropriate accounts and the provision of financial information for management decision making.
The Department ensures that the information on which decisions about the use of resources are based on are reliable.
Other functions performed by the Department are:
- Strengthening the Finance & Accounts Department for efficient service delivery.
- Work towards cost reduction and also ensuring that recommendation on how to improve revenue generation is profound at all times.
- Ensure compliance with various Government circulars such as the Public Service Rules (PSR), Financial Regulations (FR), etc.
- Strengthening effective linkage/liaising with relevant Agencies of Government such as Budget Office, Office of the Accountant General of the Federation (OAGF), Auditor General for the Federation (AGF), Central Bank of Nigeria (CBN), Federal Ministry of Agriculture & Rural Development (FMA&RD) and other relevant Government Agencies for up to date information needs.
- Preparation of Management/Final Accounts.
- Preparation of Institute’s Budget Performance Evaluation and Annual Budget preparation.
- Maintenance of Capital & Recurrent Vote Books and Advance Journals.
- Keeping records of all Internally Generated Revenue Heads (IGR) and custodian of Treasury documents.
- Processing of payments into their various heads/sub-heads.
- Preparation of GIFMIS/IPPIS and Remita transaction/reconciliation reports.
- Ensure on-the-job training of Account s staff for improved performance.
- Rendering financial advisory services to Management as and when necessary.
- Carry out any other functions as may be directed by the Registrar/CEO from time to time.
The department, which is presently headed by a Deputy Director – M. J. Yusuf, has two (2) Sections, with various sub-Units:
Section I: Finance Section
i. Revenue Unit
ii. Funds Unit
Section II: Accounts Section
ii. Final Accounts
iv. Central Pay office