State Treasury Office(STO)
LAGOS STATE TREASURY OFFICE
BRIEF ON STATE TREASURY OFFICE
The Lagos State Treasury office is one of the three (3) arms of the Ministry of Finance. The Office is also known and called the Accountant General’s Office. This Office has been in existence since the establishment of the Ministry of Finance in 1968.
The State Treasury Office is solely responsible for the delivery of financial services of the State Government and the Office is made up of Seven (7) Directorates and Six (6) Units, namely;
i. Treasury Operations Directorate (TO)
ii. Monitoring and Investigation Directorate (M&I)
iii. Financial Information System Directorate (FIS)
iv. Financial Intelligence and Research Directorate (FIR)
v. Central Payroll and Data Validation Directorate (CPDVD)
vi. Finance and Accounts Directorate (F&A)
vii. Administration and Human Resources (A&HR)
viii. Projects’ Financial Management Unit (PFMU)
ix. Internal Audit Unit
x. Public Affairs Unit
xi. Procurement Unit
xii. Information and Communication Technology Unit (ICT)Unit
xiii. Budget and Planning Unit
xiv. Reconciliation Unit
The Directorates and Units in the State Treasury Office perform various functions and activities that enhanced the development of the State and meet up with the aspiration of the past and present administrations on the Millennium Development Goals (MDGs) and the THEMES Agenda of Lagos State.
MISSION STATEMENTS
To provide world class financial services to the stakeholders through IT driven processes with seasoned professionals working in a conducive environment.
VISION STATEMENTS
To be the best public sector financial service provider and a citadel for financial professionals.
STATUTORY RESPONSIBILITIES OF THE STATE TREASURY OFFICE
The Statutory responsibilities of the State Treasury Office as stated in the Public Finance Management Law 2011 include the following major services amongst others:
i. Accounting for all receipts and payments of the State Government.
ii. Supervising the accounts of the State Ministries, Extra-Ministerial Departments and Agencies (MDAs);
iii. Maintaining and operating the accounts of the Consolidated Revenue Fund, Capital Development Fund and other Public Funds and providing cash backing for the operations of the State Government;
iv. Collating and preparing statutory Financial Statements of the State Government and any other Statement of Accounts as may be required from time to time;
v. Maintaining and operating the State Government’s Accounts;
vi. Conducting routine and in-depth inspection of the books of accounts of the State’s Ministries, Department and Agencies to ensure compliance with rules, regulations, policy decisions and maintenance of account codes; and
vii. Formulating and implementing the accounting policies of the State
Government.
PERTINENT LAWS RELATING TO THE STATE TREASURY OFFICE
1. The Lagos State Public Finance Management Law, 2011
2. The Lagos State Debt Management Office (Establishment) Law, 2008
3. Lagos State Bonds, Notes and other Securities Issuance Law, 2008
4. Lagos State Appropriation Laws
5. Lagos State Revenue Administration Law, 2005
6. Land Use Charge Law, 2001
7. Lagos State Public Procurement Law, 2011
8. Lagos State Pensions Reform Law, 2007
9. Lagos State Lotteries (Amendment) Law, 2008
10. Lagos State Audit Law, 2011
MANAGEMENT STAFF
1. PS/Accountant-General Dr. AbiodunMuritala
2. Director, CPDVD Mrs. Tifase, IyaboOlayinka
3. D/Projects’ Financial Management Unit Mrs. Saidi, Rashidat Abiola. 4.D/Admin & Human Resources Ms. Shobowale, Adedoyin Sekinat
5. D/ Monitoring and Investigation Mr. Mahmud Tajudeen Alao
6. D/ Treasury Operations Mrs. Dina, AmeenatAbisola
7. D /Financial Infor. System Mr. Thomas Folorunso Olatunji
8. D/ Fin. Intelligence & Research Mr. Amosu, Viavo Oladipupo
9. D/Finance and Accounts Mr. Kara, OluseunOlumayowa
10. Head, Procurement Unit Mrs. Amusan ToyinTitilayo
11. Head, Public Affairs Unit Mrs. Ajala, JelilatOlawunmi
12. Head, Internal Audit Mrs. Mustafa, Temitayo Folasade
13. Head, Planning Unit Mr. Alao, Akinkunmi Oluwaseyi
14. Head, Reconciliation Unit Mr. Disu, Abidemi Abdu-Kamar
15. Head, ICT Mrs. Martins, Oyindamola. O