FEDERAL MINISTRY OF POWER, WORKS & HOUSING

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FUNCTIONS OF THE FINANCE AND ACCOUNTS DEPARTMENT

January 29, 2018

The Finance and Accounts Department of the Power Sector of the Federal Ministry of Power, Works and Housing is headed by the Director (Finance and Accounts) and is divided into four functional divisions,namely: Budget, Capital Expenditure, Recurrent Expenditure and Finance.  The functions of the Department are as follows:

⦁    Ensuring compliance with Financial Regulations by staff under the control and supervision of the Power Sector of the Ministry;
⦁    Ensuring adequate supervision of the disbursement of funds;
⦁    Advising the Accounting Officer on all financial matters as well as the more technical provisions of Financial Regulations and other Treasury and Finance Circulars;
⦁    Liaising with Accountant-General of the Federation in the interpretation of the provisions of the Financial Regulations and other Treasury Circulars;
⦁    Preparation,compilation, submission and defense of the Budget of  the Power Sector;
⦁    Receipt, custody, disbursement and accounting for funds,as well as monitoring of recurrent and capital budgets of the Power Sector;
⦁    Request forand receipt of funds from the Office of Accountant-General of the Federationfor Warrants and AIEs issued to the Sector;
⦁    Liaising with the Federal Ministry of Finance, Ministry of Budget and National Planning, Budget Office of the Federation and the National Assembly on matters relating to the Budget of the Power Sector;
⦁    Proper monitoring and accounting for revenues;
⦁    Maintenance of proper accounting records and books e.g. Vote Books, Cash Books, Registers, Ledgers,etc.;
⦁    Rendition of financial returns to the Office of the Accountant-General of the Federation and Preparation of Monthly Statement of Vote Balances for submission to the Permanent Secretary and Honourable Ministers;
⦁    Responding to audit queries issued by the Internal and FederalAudit Units, Offices of the Accountant-General and Auditor-General for  Federation and the Public Accounts Committees of the National Assembly;
⦁    Supervision of Nigeria Bulk Electricity Trading Company Plc.,(NBET) and Nigerian Electricity Liability Management Company Ltd (NELMCO);
⦁    Other functions as may be directed by the Permanent Secretary and Honourable Ministers.

ORGANOGRAM FINANCE AND ACCOUNTS DEPARTMENT

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