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Tag: Responsibilities of ministry of finance

  • Roles and duties of Nigeria ministry of finance

    In this post I will like to explain who are the NIGERIA Ministry of finance

    What are the roles and duties of Nigeria ministry of finance and their responsibilities

    Nigeria ministry of finance

    Federal Ministry of Finance is the government body that manages the finances of the Nigeria Federal Government including managing, controlling and monitoring federal revenues and expenditures.

    Duties of ministry of finance

    The duties of ministry is to manage the nation’s finances in an open, transparent, accountable and efficient manner that delivers on the country’s developmental priorities”.

    Role duty and power of Nigeria ministers

    Aim of ministry of finance

    The Ministry’s principal goals and operational targets are:

    To stable economy and a good standard of living

    To Long-term treasury equilibrium

    To An economical and efficient tax environment

    To Responsible and performance oriented management of state finances

    To Transparent government operations and an effective organizational structure

    To State employment of staff of the highest quality, who operate in a conducive work environment

    To Delivery by the Ministry of a reliable service with the emphasis on professional work.

    Roles of Nigeria ministry of finance

    Roles of finance ministry: Some of the role of the finance ministry include collecting and disbursing government revenue, formulating policies on taxation, tariffs, fiscal management etc., preparing and managing the annual budget, preparing annual accounts for ministries, departments and agencies, managing federal debt and regulating the capital market.

    Past Leaders of ministry of finance

    Stephen Osagiede Oronsaye

    Ochi C. Achinivu

    Shamsuddeen Usman

    Mansur Muhtar.

    Ngozi Okonjo-Iweala,

    Kemi Adeosun

    Mrs Zainab Ahmed

    senior civil servant acts as Permanent Secretary of the minister, assisting the politically appointed Minister of Finance, who is a member of the President’s cabinet.

    Responsibilities of ministry of finance

    The Ministry of Finance is responsible for a number of parastatals and agencies:

    Office of the Accountant General of the Federation Of Nigeria

    Central Bank of Nigeria

    Federal Inland Revenue Service

    Investment and Security Tribunal

    National Insurance Commission

    Nigerian Export Import Bank

    Nigeria Deposit Insurance Corporation

    Nigerian Customs Service

    Securities and Exchange Commission

    DEPARTMENTS of ministry of finance

    ANTI-CORRUPTION AND TRANSPARENCY UNIT (ACTU)

    CASH MANAGEMENT DEPARTMENT

    ECONOMIC RESEARCH AND POLICY MANAGEMENT DIVISION

    FINANCE AND ACCOUNT DEPARTMENT

    GENERAL SERVICES DEPARTMENT

    HOME FINANCE DEPARTMENT

    HUMAN RESOURCE MANAGEMENT

    ICT DEPARTMENT

    INFORMATION/PRESS UNIT

    INTERNAL AUDIT DEPARTMENT

    INTERNATIONAL ECONOMICS RELATIONS DEPARTMENT

    LEGAL UNIT

    PRESIDENTIAL INITIATIVES ON CONTINUOUS AUDIT

    PROCUREMENT

    REFORM COORDINATION AND SERVICE IMPROVEMENT

    YOUTH EMPLOYMENT AND SOCIAL SUPPORT OPERATION

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