DEPARTMENT OF FIANACE AND ACCOUNTS

1. INTRODUCTION

The Acting Director is accountable to the Registrar/Chief Executive of the Council. He is in charge of the implementation of all the provisions of the TRCN Act 31 of 1993 concerning the establishment, maintenance, management and control of Council Fund.

He is responsible for the establishment and maintenance of sound Internal Control Systems to guide the operations of the Council.

He ensures that proper books of accounts and records are kept at all times and that the accounts are audited annually by an Auditor appointed     from the list and in accordance with the guidelines supplied by the Auditor-General of the Federation.

He guides the Council in its investment and loan negotiation decisions. He ensures compliance to the provisions of the Act and other extant rules and regulations of the Federal Government of Nigeria. He oversees the activities of the three divisions in the department namely Funds Management, Expenditure Control/Final Account and Budget and Budgetary Control.

Brief on the Acting Director of Finance and Accounts

The officer started his working career with Enugu State Agricultural Development Programme, a World Bank, Federal and State Government sponsored programme as Accountant II in 1987 and rose to the position of Deputy Director in 1999. 

He joined the services of the Teachers Registration Council of Nigeria as Assistant Director (Accounts) on 2nd September, 2002 and was promoted to the post of Deputy Director on 1st January, 2007, the position he held until 19th November, 2008 when he was appointed the Acting Director, Finance and Accounts following the re-organisation that took place in the former department of Administration and Finance which resulted to its splitting into two departments namely Department of Administration and Supplies and that of Finance and Accounts.

Mr. Onyia obtained his MBA Banking and Finance from the University of    Nigeria, Nsukka in 1996.  He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN).   

He is happily married with a daughter.

Email address: emma.onyia@trcn.gov.ng

Summary of the Functions of the Department

Implementation of the relevant provisions of the TRCN Act 31 of 1993 with respect to the establishment, maintenance, management and control of Teachers Fund and other resources of the Council.

*        Establishment and maintenance of sound internal control systems.
*        Developing instruments for collation, recording and reporting financial transactions.
*        Keeping of proper books of accounts and records.
*        Ensuring that Council’s annual financial statements are prepared as and when due and that the statements are audited by External Auditors appointed in accordance with extant regulations and guidelines released for that purpose by the office of the Auditor-General of Federation.
*        Putting in place measures for the effective mobilization and generation of revenue for the Council.
*        Timely preparation and payment of staff emoluments and third party approved entitlements/deductions.
*        Effective preparation and co-ordination of the Council’s work plans, budgets and defence of same before the Federal Ministry of Education, House and Senate Committees on Education of the National Assembly.
*        Effective implementation, control and judicious use of resources as approved in the workplan and budget.

Divisions in the Department and their Roles

The Department of Finance and Accounts is made up of three (3) divisions and several operational units:-

(1)     Funds Management Division

          The functions of this Division include:-

• Collection of bank statements, warrants, A.I.Es.
• Raising of LPO, Job Order, Contract and maintenance of LPO and Job order register.
• Preparation of payment vouchers, writing of cheques and release of same to Contractors/Suppliers.
• Preparation of staff Payroll, Payroll Summary Sheets and relevant Payroll based deductions.
• Preparation of bank cash books, analytical, petty cash books, bank reconciliation statements and other books of prime entry
• Preparation of periodic report/s in respect of inflows and outflows of funds to the Council.
• Carry out all necessary actions to ensure compliance to TRCN Act 31 of 1993 and other extant rules and regulations concerning the establishment, maintenance, management and control of Council’s financial resources.

Expenditure Control and Final Account Division

The functions of this Division include:-

              *        Checking/receipting of goods ordered and comparison with LPO, invoices and way bills.
              *        Seeking and obtaining technical confirmation on technical stores items from relevant department where the expertise lies before taken the items on-charge.
              *        Raising of all necessary stores records (SRV,SIV) and writing/posting of all stores receipts and issues to the appropriate stores Bin Cards/Ledgers etc.
              *        Making requisition for stock replenishment.
              *        Maintenance of Vote books/ledgers
              *        Writing of Imprest Petty Cash Payment Vouchers, analytical petty cash book and raising of retirement of Advances Adjustment Vouchers.
              *        Cross-checking of entries into bank cash books, and bank reconciliation statements.
              *        Posting of monthly bank cash book balances to the relevant ledgers (Nominal, Real and General)
              *        Preparation and maintenance of a comprehensive Fixed Asset Register for the Council.
              *        Extraction of periodic and end of year trial balance, preparation of Income and Expenditure Account, Balance Sheet and other financial schedules and information required for annual audit purposes.     
              *        Liaises with External Auditors in respect of the annual audit of the Council Accounts.

(3) Budget and Budgetary Control Division

     The function of this Division are:-

     *        Collation of all the departmental workplans and other informations needed for the Council’s budget.
     *        Preparation of the Council’s yearly revenue, recurrent and capital budget proposals, Medium Tern Sector and Long-Term Budgets.
     *        Participation during the defence of all budget proposals before Federal Ministry of Education, House and Senate Committees on Education of the National Assembly.
     *        Carrying out an evaluation of actual results against set plans/budget.
     *        Preparation of budget and budgetary control and various periodic reports.
     *        Preparation of the summary of relevant periodic reports in respect of the sale of registration materials.
     *        Provision of the requisite information and advice to guide the Council in its Investment and Loan negotiation decisions.
     *        Provision of information as to whether or not a proposed activity is contained in the approved workplan and or budget.

top