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Federation Accounts Department.

The Federation Account Department is responsible for maintaining and disbursing revenue that has accrued to the Federation Account to the three tiers of government in line with the formula and approved indices.
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Federation Accounts Department.

The Federation Account Department is responsible for maintaining and disbursing revenue that has accrued to the Federation Account to the three tiers of government in line with the formula and approved indices.
Learn Morearrow_downward

Mrs. Rita .O. Okolie

FCA
Director, Federation Accounts Department.

Schedule Of Duties/ The Federation Account Department

The Federation Account Department is responsible for maintaining and disbursing revenue that has accrued to the Federation Account to the three tiers of government in line with the formula and approved indices. It is also responsible for the reconciliation of the Federation Revenue and disbursement from the Federation Account as clearly stated under section 162 (1-9) of the 1999 Constitution (as amended) Cap 15 of the laws of the Federal Government of Nigeria, and section 1 of the Financial Regulation.

The Department is the vein of the Treasury and the ‘heart beat’ of the Nation due to its strategic position of being responsible for the operation of the main Account of Government of the Federation. The Department is also the custodian of Special Accounts of the Federation namely:-

  1. Development of Natural Resources Fund
  2. Ecology and Derivation fund
  3. Stabilization fund
  4. Excess Crude Saving Account etc.