Finance and Accounts

The Finance and Accounts Department is responsible for the financial management, budget preparation and execution, accounting, financial reporting, and fiscal compliance of the Federal Ministry of Youth Development.

Mandate

• Management of the Ministry’s financial resources and accounting records in compliance with Financial Regulations and statutory fiscal guidelines.
• Preparation, coordination, and defence of the Ministry’s Annual Capital and Overhead Budgets.
• Operation and management of the Government Integrated Financial Management Information System (GIFMIS) and Treasury Single Account (TSA).
• Processing of staff salaries, allowances, third-party deductions, and statutory remittances.
• Prompt response and facilitation of internal and external audit reviews from the Auditor-General for the Federation.
• Safe custody of payment vouchers, financial instruments, and accounting books.
• Rendering periodic financial returns, bank reconciliation statements, and final accounts to the Office of the Accountant-General of the Federation (OAGF).

Functions

• Disbursement of allocated funds for approved capital projects, youth intervention programmes, and recurrent overheads in accordance with federal spending guidelines.
• Rendering accurate financial statements, transcript of accounts, and financial management reports to Ministry leadership and fiscal regulatory bodies.
• Advising the Accounting Officer (Permanent Secretary) and Honourable Minister on all fiscal, accounting, and financial management matters.

Structure

• Finance and Budget Division
• Accounts and Expenditure Division
• Central Pay Office (CPO)
• GIFMIS / Treasury Unit