Finance and Accounts Department (F&A)
The Finance and Accounts Department is one of the services Departments of the Ministry as is the case in the Federal Civil Service. Statutorily, the Department is responsible for handling the Revenue and Expenditure activities of the Ministry as well as the preparation of its annual Budgets. In carrying out these duties, the Department is to ensure that full accounts are maintained for all financial transactions and that laid down policies, procedures and processes, as contained in the Financial Regulations PSR, and Extant Circulars, are adhered to.
Finance and Accounts Department is structured into two Divisions
Management of Accounts:
The Ministry is one of the pioneer MDAs that have transited to the Treasury Single Account (TSA) introduced by Government in 2012. Under the TSA, the Ministry no longer maintains accounts with Commercial Banks rather; funds released by the Office of the Accountant-General of the Federation (OAGF) are now credited to a single account domiciled in the Central bank of Nigeria (CBN). Disbursements from this account are done via the internet, On-line, through a specified platform and format.The Overhead and Capital funds of the Ministry are therefore, operated through this System. The funds for Personnel Cost are have equally been taken over by the OAGF, operated under the Integrated Personnel Payroll Information System (IPPIS).Recently, Government directed that effective from January 1, 2015 MDAs should close all Revenue accounts with commercial banks as the Revenue module in GIFMIS has been activated. Hitherto, MDAs were allowed to operate commercial bank accounts for revenue purposes only.