LAGOS STATE PUBLIC FINANCE MANAGEMENT LAW

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LIST OF LAWS OF LAGOS, [ALPHABETICAL]  

PUBLIC FINANCE MANAGEMENT LAW

ARRANGEMENT OF SECTIONS

PART I – DEPARTMENTS OF MINISTRY OF FINANCE

1.       Departments in the Ministry of Finance

2.       Duties of the Commissioner of Finance

3.       Functions of the State Treasury Office

4.       Duties of the Accountant-General of the State

5.       Powers of the Commissioner to delegate duties

6.       Banks, cash management and investment framework

7.       Deposits into the Consolidated Revenue Fund

8.       Withdrawals from the Consolidated Revenue Fund

9.       Development fund

10.     Capital development warrant

11.     Withdrawal from the development fund

12.     Use of funds in emergency situations

13.     Basis of government accounting

14.     Annual consolidated financial statements

15.     Financial report

16.     Form of statements

17.     Financial statistics and aggregations

18.     Publication of financial statements

19.     Restrictions on borrowing, guarantees and other commitments

PART II – LOANS TO PARASTATALS OR INSTITUTIONS

20.     Lending money to parastatals or institutions

21.     Repayment and consolidation of loans

22.     Conditions for writing-off loans

23.     Establishment of a Central Internal Audit Office

24.     Audit report

PART III – THE STATE BUDGET PROCESS

25.     Government budgeting

26.     General budgetary issues

27.     Budget process

28.     Contents of a budget

29.     Budget monitoring and control

30.     Withholding of appropriated funds

31.     State supplementary budget

32.     Quarterly budget report

PART IV- FUNCTIONS OF ACCOUNTING OFFICERS AND ACCOUNTS OFFICERS

33.     Accounting officers of ministries, departments, agencies, parastatals and institutions

34.     Responsibilities of accounting officers

35.     Responsibilities of accounting officers when assets and liabilities are transferred

36.     Acting accounting officers during temporary absence

37.     Delegation of powers by accounting officers

38.     Duties of accounts officers

PART V – ADDITIONAL PROVISIONS FOR PARASTATALS, INSTITUTIONS AND EXTRA-MINISTERIAL
DEPARTMENTS

39.     Application of this part

40.     Parastatals or institutions

41.     Classification of parastatals or institutions

42.     Accounting officer

43.     Fiduciary duties of accounting officer

44.     Disclosure of interest

45.     General responsibilities of accounting officer, Board/Approving Authority

46.     Delegation of powers and duties by accounting officer

47.     Responsibilities of other officials

48.     Annual budget and corporate plan by parastatals or institutions

49.     Annual report and financial statements of parastatals

50.     Appointment of external auditors

51.     Duties and powers of Auditor-General in relation to a parastatal or institution

52.     Discharge of external auditors

53.     Duties and powers of external auditors

54.     Reports of external auditor

55.     Appointment of Auditor-General

PART VI – LOCAL GOVERNMENT REVENUE, FINANCE AND ADMINISTRATION

56.     Local Government area revenue sources

57.     Establishment of Local Government Revenue Committee

58.     Functions of the Revenue Committee

59.     Functions of Local Government Treasury Department

60.     Allocation of revenue to Local Governments

61.     Expenditure

62.     Duties and responsibilities of the Council Treasurer

63.     Local Government bank accounts

64.     Investment of funds

65.     Power to borrow money

66.     Writing-off irrecoverable debts

67.     Budgets of Local Governments

68.     Use of assets

69.     Auditing of accounts of Local Governments

70.     Accounts and audit

71.     Power of Auditor-General to disallow or surcharge

72.     Recovery of sums certified due

73.     Internal audit

74.     Existing regulation

75.     Local Government to prepare development plans

76.     Local Technical Planning Committee

77.     Approval of development plans

78.     Review of development plans

79.     Availability of development plans

80.     Development plans not to be incompatible

81.     Local Government to take inventories

82.     Security for printing of revenue receipts

83.     Publication of Local Government required to be made public

84.     Ministry to promote participatory process in governance

PART VII – MISCELLANEOUS PROVISIONS—LIABILITY FOR LOSS OF FUNDS

85.     Liability for loss of public money

86.     Liability for keeping public money

87.     Application of provisions to stores

88.     Power to make regulations

89.     Repeal

90.     Interpretation

91.     Citation and commencement

SCHEDULES

PUBLIC FINANCE MANAGEMENT LAW

A LAW TO REGULATE THE FINANCIAL MANAGEMENT OF – LAGOS STATE GOVERNMENT AND LOCAL GOVERNMENT AREAS

LAWS OF LAGOS STATE

LAWS OF THE FEDERAL REPUBLIC OF NIGERIA