Ministry of Finance And Economic Development
The Ministry of Finance generally handles the Government of Ekiti State’s finance. The Ministry is saddled with the duty of managing the finances of the State in order to bring about optimal development and progress.
In its efforts at making optimal development and progress in Ekiti State, the Ministry carried out a project which involved the computerization of the State’s pay roll and Bio-metric Data Capture.
The Ministry is divided into Administration and Supplies, Expenditure, State Finances and Expenditure, State Finances and Finance and Accounts Departments.
There are six departments in the Ministry as follows:
- Office of the Commissioner
- Office of the Perm. Sec
- Administration and Supplies
- Finance and Accounts
- State Finance
To be in the front line in the management of the Financial resources of Ekiti State transparently efficiently and effectively with integrity in a most social beneficial manner.
- Promoting a regime of fiscal discipline, Prudence, accountability and transparency .
- Restructuring Public expenditure through expert advice in a way that will deliver more public goods and services to the people.
- Improving public Financial Management towards higher levels to transparency and compliance with international best practice.
- Handling of issues relating to revenue from Internal Sources.
- Liaising with Federal Agencies on fiscal matter.
- Handling of all insurance matters on behalf of the State Government.
- Offering appropriate financial advice to the Government as and when due.
- Handling matters relating to Bound.
- Handling Bailout related matters.
- Handling commercial Bank Loans restructuring.
- Serves as Secretariat to Annual Board of Survey and Inquiry.
- Liaising with Revenue Mobilization Allocation and Fiscal commission (RAMFAC) and other related Agencies.
- Processing of appointment of consultants.
- Appraisal of Proposal from contractors on contractors financing.
- Disbursement of State funds to MDAs
|Mr Akintunde Oyebode||Hon. Commissioner|
|Mr James Babasola Folorunso||Permanent Secretary|
|Mr Jacob S. Adesola||Director, Finance and Accounts|
|Mrs Oyenike Oyeyemi Kayode-Ojo||Director, Administration and Supplies|
|Mrs Lucy Bolaji Bamisile||Director, State Finance|
|Mr. J. O. Jolumo||Director, Expenditure|
DIGITIZATION OF STATE’S EXPENDITURE: Modern Way of Managing Funds–Expert
The digitization of expenditure process in the State would aid quick
delivery and effective management of government funds.
An Expert from a Digital Technology, Lagos, Mr. Lanre Komolafe affirmed
this in Ado during a workshop for some Permanent Secretaries and
accounting related Officers on “Digitization/Automation of the State
Mr. Komolafe said the era of communicating activities in files with
their attending risk and delay was fading away, noting that the paperless
system would prevent wastage as there would be no room for any votes
not captured in the budget under automation.
The three days training addressed: “Expenditure request initiation,
approval processing and tracking for MDAs and Ministry of Finance and
Economic Development; Key personnel responsible for E-
expenditure request initiation, approval and processing for each pilot
MDA such as Permanent Secretary, Director of Finance and Account,
Internal Audit among others.
Earlier, the Permanent Secretary, Ministry of Finance and Economic
Development, Mr James Folorunso in his remarks called on the
participants to quickly key into the new system of expenditure as it
would avail the State the opportunity of moving with the best World order
Participants at the training were also engaged in practical exercises
using their laptop computers with internet facilities.