Responsibilities: State Treasure Office

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 

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