Fiscal Responsibility Commission
The Fiscal Responsibility Commission was established following the enactment of the Ekiti State Fiscal Responsibility law No.4 2011. The Commission was inaugurated on 1st August 2011. The enabling Law primarily provides for the prudent management of the State resource: ensure long-term macro –economics stability, secure greater accountability and transparency in fiscal operation within a Medium Term Fiscal Policy Framework (MTEF) and establishment of the Fiscal Responsibility Commission.
Vision:
Our vision is to inspire Probity, Accountability and Financial discipline in line with International best practices.
Our Mission
To ensure fiscal discipline and transparency in the management of Public Funds in Ekiti State Public Service. To promote Accountability and Transparency prudent and effective finance management frame Work for Ekiti State for the promotion of long-term macro-Economic stability .
HONESTY: Promoting transparency in government fiscal activities
INTEGRITY: Discharging our duties within the work plan to ensure Consistency
HARDWORK: Putting in place the best efforts to achieve the Commission’s mandate.
The Fiscal Responsibility Commission was established following the enactment of the Ekiti State Fiscal Responsibility law No. 4 2011. The Commission was inaugurated on 1st August 2011.The enabling Law primarily provides for the prudent management of the State resource; ensure long-term macro-economic stability, secure greater accountability and transparency in fiscal operation within a Medium Term Fiscal Policy Framework (MTEF) and the establishment of the Fiscal Responsibility Commission.
The basic function of the Commission is to ensure greater efficiency in the allocation and management of Public Expenditure, Revenue Collection, Debt control and transparency in Fiscal matters:
The other major functions performed by Commission are:
- To monitor and enforce the provision of the Fiscal Responsibility Law 2011;
- To disseminate such standard practices including international good practice that will result in greater efficiency in the allocation and management of Public expenditure, revenue collection, debt control and transparency in fiscal matters;
- To undertake Fiscal and Financial studies analyses and diagnose and disseminate the result to the relevant authorities;
- To make rules for carrying out its functions under this Law;
- To perform any other functions consistent with the promotion of the objectives of this Law.
The Commission is made up of 6 departments which are listed below:
- Administration and Supplies.
- Finance and Accounts.
- Policy and Standards.
- Planning, Research and Statistics.
- Monitoring and Evaluation.
- Legal and Strategic Communication.
At inception, the Commission is headed by a Chairman and 4 other Commissioners appointed by the Executive Governor on full time basis plus 3 ex-officio members representing Ministry of Justice, Ministry of Finance and Ministry of Budget.
The Executive Secretary is the Accounting Officer supported by Directors. Presently there are four (4) Directors, viz: Director, Admin and Supplies and Director, Finance and Accounts, Dir, Monitoring and Evaluation and Dir, Planning, Research and Statistics.
FUNCTION OF THE Commission:- The basic function of the Commission is to ensure greater efficiency in the management of Public Expenditure, Revenue Collection, Debt control and transparency in Fiscal matters.
The other major function performed by Commission
- To monitor and enforce the provision of the Fiscal Responsibility Law 2011.
- To disseminate such standard practices including international good practice that will result in greater efficiency in the allocation and management of public expenditure, revenue collection, debt control and transparency in fiscal matters:
- To undertake Fiscal performance review of all MDAs, Local Government and LCDAs in the state.
- To make rules and carrying out its functions under this Law: and
- To perform any other function consistent with the promotion of the objectives of this Law.
Presently, there are 2 directors:-
- Director, Administration and Supplies
- Director, Finance and Accounts.
ON GOING PROJECTS/PROGRAMME:- 2026 Mid- year Fiscal performance review exercise for the MDAs, tertiary Institution , Local Government and LCDAs across the state.
PRINCIPAL OFFICERS AND THEIR DESIGNATION:- Presently, the Commission has the following principal officers .
| S/No | NAMES | DESIGNATION | REMARKS |
| 1 | Mr. Alfred Ologuntoye | Chairman | |
| 2 | Hon. Mayowa Oyedeji | Commissioner(In charge of Planning, research &statistic) | |
| 3 | Chief Gbenga Agbona | Commissioner(In charge of Monitoring & Evaluation) | |
| 4 | Chief Dele Olatuyi | Commissioner(In charge of Policy & Standard) | |
| 5 | Ch,Mrs Bolanle Omotoso | Commissioner(In charge of Finance and Account) | |
| 6 | Mr. Wole Oloworemo | Executive Secretary | |
| 7 | Mrs. Olawumi Akeredolu | Director Administration and Supplies | |
| 8 | Mrs Funke Kayode | Director Finance and Account | |
| 9 | Mrs. Modupe Olasehinde | Director Planning ,research & Statistc | |
| 10 | Engr A. J Adesanya | Director Monitoring & Evaluation |
Conclusion: The Commission is committed to boost the State Internally Generated Revenue (IGR), thereby reduce the state dependency on statutory allocations from Federal Government and also ensure that all public funds are judiciously expended for the betterment of Ekiti indigenes.