About Mr. Felix Ore-ofe Ogundairo, FCA, FCIB, ACIT

Director, Revenue and Investment, Office of the Accountant-General of the Federation, a position I assumed on 6^th September,2023.

Prior to the above, he was the Treasury Director of Revenue (TDR) in Nigerian Communications Commission (NCC) between November 25th ,2020 and September 5^th, 2023, being one of the ten pilot agencies where officers of the Treasury were deployed on November,2020 in the implementation of the Presidential directives in under the revenue performance management framework and strategic revenue growth initiatives and the establishment of Revenue department in FGOEs.

Prior to the above, he was the Deputy Director, in charge of the Consolidated Financial Statement (CFS), Public Account Committees (PAC) of both Senate and House of Representatives of the National Assembly and financial analysis, in Consolidated Account department (CAD) of OAGF between March 20^th2018 and November 24^th ,2020.

Prior to that, he was the Assistant and Deputy Director Accounts, in Nigerian Immigration Service where professional advise were offered in diverse ways which culminated in the efficient management and allocation of funds to various Immigration Desks in Nigerian Embassies and High Commissions abroad between January,2011 to March,2018

As financial specialist and expert Mr. Felix Ore-ofe Ogundairo, was on several occasions appointed as Project Accountants to some World Bank, European and African Projects with commendation letter from the Federal Government on efficient management, transparent and accountability of financial resources.

Among the Projects Includes:

• Project Accountant, World Bank Assistance Avian Influenza Control (Bird Flu) Project
• Project Accountant, Mother Summit
• Project Accountant, Heart of Africa
• Project Accountant, Spanish Project Fund, Passport to Safe Migration Project

 

Educational and Professional Qualification

F.O. Ogundairo holds a B.SC degree in Banking and Finance from Ogun State University, now Olabisi Onabanjo University

A Fellow of the Chartered Institute of Bankers of Nigeria (FICB)

A Fellow of the Institute of Chartered Accountants of Nigeria (FCA)

An Associate Member of the Institute of Chartered Taxation of Nigeria (ACIT)

 

Training Experience

• Windows Fundamental, MS Word, MS Excel XP, MS PowerPoint and Outlook XP in APTECH Worldwide
• National workshop and training on National Chart of account
• National workshop on standardization of federal, State and local Government accounts in Nigeria
• Financial management and disbursement Programme on World Bank Assisted Projects – Lagos Business.
• Budgeting and Financial Management – Swaziland
• Financial Analysis – London Corporate Training – London
• Managing New Beginning – Lagos Business School
• Public Private Partnership on Successful PPP Projects – Nigeria Institute of Infrastructure and Public Private Partnership (NII3p)
• Europe Money/Money 2020 Fintech Conference held – Amsterdam, Netherlands
• Building Strong Financial Management Strategies to Sustain Organizational Growth – Goshen Business School
• Managing Risk (MoR) – Philips consulting
• Microsoft Dynamics Great Plain Solutions – ASL Business Solution Ltd

Functions of the Department:             

The Revenue and Investment Department is one of the Twenty-two (22) Departments in the Office of the Accountant-General of the Federation.  The Department was created due to the Treasury reforms carried out in 2007; it presently has four (4) Divisions: Oil and Solid Minerals Revenue (OSMR). Investment, Nigeria Customs Service (NCS), and Federal Inland Revenue Services (FIRS).  The Department is headed by a Director; and four Deputy Directors, who are heads of the four Divisions of the Department.  They are in turn assisted by Assistant Directors; Sectional Heads, Unit Heads and other Support Staff.

1. Ensuring that all crude oil and non0ol revenue accruing to the Federation are promptly collected and remitted to the appropriate accounts in the CBN;
2. Receiving and reconciling monthly revenue returns from NNPC, DPR, CBN and all other companies operating in the upstream sector;

iii.     Compiling data on crude oil revenue for performance analysis;

1. Issuing Treasury Receipts for payments made in respect of Royalties, Gas Flare, PPT and Rentals;
2. Hosting, chairing and manning the Secretariat of the Federation Revenue Reconciliation Committee consisting of all revenue collecting agencies of Government on monthly basis;
3. Receiving monthly and quarterly returns from designated banks on all customs duties and levies remitted to CBN and carrying out monthly reconciliations of the collection as submitted by CBN and FIRS;

vii.    Investigating and processing tax and customs duty refunds;

viii.   Handling issues relating to Special Levies Accounts such as 7% Port Levy, Sugar Levy, Rice Levy, etc;

1. Serving as a member of both the Sub-technical and Plenary sessions of the monthly Presidential Revenue Monitoring and Reconciliation Committee (PRMRC);
2. Receiving and compiling independent revenue returns from MDAs and FPOs;
3. Carrying out revenue monitoring visits to MDAs, FPOs, Government companies and parastatals;

xii.    Collecting revenue for the Government in the form of interest, repayment loans of principals, dividends and operating surplus from non-profit oriented organizations like CBN, CAC, etc;

xiii.   Obtaining and keeping custody of share certificates in the name of MOFI on behalf of the Federal Government’s equity investment;

xiv.   Representing the Government on the Boards of Companies either as members or in observer capacity;

1. Monitoring the utilization of loans/grants by the Federal Government to Government owned companies to ensure that such funds are applied to their intended purposes;

xvi.   Advising Government on matters relating to restructuring of the capital bases and funding of Government-owned companies and parastatals;

xvii.  Making equity investments either through direct fund releases or by conversion of loans into equity upon approval of the Federal Executive Council;

xviii.  Keeping and reconciling records of Government investments in equities, loans and special funds with those of the companies/parastatals;

xix.   Making representations at panels of investigations, liquidations or management audit committees whenever Government directs for such exercises;

1. Liaising with the Bureau of Public Enterprises (BPE) on matters relating to the privatization and commercialization of Government owned companies and parastatals;

xxi.   Maintaining and managing the CRF Cash Book; and

xxii.   Keeping and distributing treasury security documents and forms to all MDAs to ensure compliance with standard accounting procedures.