Finance

FINANCE AND ACCOUNTS DEPARTMENT

The department of finance and accounts is critical and at the Centre of FMCB or organization’s operations by ensuring efficient financial management and financial controls necessary to support both clinical and non-clinical activities.

 The Finance and Accounts department today in FMCB became fully operational in the year 1997, although known then as finance and supplies department. The supplies function was ceded to the administrative department in 2001 following a presidential /executive circular signed by the Mr. President (General Olusegun Obasanjo) on re-organization of Administrative and Financial Management Functions in the Federal Civil Service. Hence, delineating administrative and finance departments as two distinctive departments.

The department operations are guided by the constitution of the Federal Republic of Nigeria, financial Act, Financial regulation, Appropriation Bills of the National Assembly, treasury circulars etc.

Thus: the department perform following duties;

  1. Advising the Accounting officer (MD/CEO) on all financial matters as well as the more technical provisions of treasury and finance circulars;
  2. Ensuring compliance with financial regulations by the Centre;
  3. Maintaining proper accounting records such as books of accounts, main and subsidiary ledgers;
  4. Process invoices;
  5. e. Record accounts payable and accounts receivable;
  6. Prepare weekly, monthly, quarterly and annual financial reports;
  7. Identify risk and manage the assets/resources of the center in a way that maximizes efficiency and compliance;
  8. Coordinate and execute financial transactions and activities such as bill payment, payroll etc.;
  9. Taking charge of the financial health of the Centre by administering accounting operations to meet legal requirement;
  10. Ensuring adequate supervision of the disbursement of funds and proper monitoring and accounting for revenue;

The department has four (4) division (i.e. Revenue, Expenditure, Budget and Financial / Fiscal reporting) with 90 staff out of which 15 are qualified professional Accountants.

The department’s core values are: integrity, Objectivity, professional Competence, due care and confidentiality.

Y.A. KASIM (B.Sc., CNA, ACCSA, MBA)

Head, Finance and Accounts.