The finance dept is responsible for the management and administration of finances. The Directorate appropriately oversees the smooth running of the Department. Chatting the way forward in the focus of the mission and vision of the Centre (areas of his jurisprudence) in the area of financial stability as well as working towards financial independence. This is the ultimate goal of the Centre.
Functions of Finance
Our Functions include:
- Formulate and review policies, procedures and controls to support effective financial operations.
- Evolve policies geared towards reducing debt portfolio to the barest minimum by reducing incidences of bad debts
- Map out strategies for tracking all sources of funds for the Center.
- Coordinate financial accounting matters at the Centre.
- Design and constantly review internal control measures to enhance financial data integrity and compliance to regulatory policies.
- Cost reduction strategies to ensure frugality and value for money
- Liaises with Internal and External auditors and provide valuable and reliable financial information that will be needed for the attainment of the Center’s Vision and Mission.
- Signatory to all financial documents and transactions as may be approved by the Board.
- Ensure the effective maintenance of all Bank Accounts, clearly defined for the purposes intended.
- Ensure timely settlement of all Bills after verification.
- Generate receipts and keep adequate records for all income received at the Center
- Ensure periodic reconciliation of all financial records and follow up on any outstanding issue.
- Track expenses Vs. budget
- Follow-up on pledges
- Arrange annual External Auditing of Center’s financial transactions.
- Prepare and submit to the DG periodic financial statements (Monthly, Quarterly and Annual) for review and subsequent delivery to the Board not later than7 days after the end of the Month/Quarter/year.
- Ensure full automation of the financial records of the Center.
- Maintain distinct Bank Accounts and transactions for all classes of income.
- Partner with Financial Institutions (CBN, Islamic Banks, Waqf organizations, etc) for facilities, funding, and collaborations.
- Offer professional financial advice to the DG and the Board on any issue that may impact positively and/or negatively on the image, finances and the Vision and Mission of the Center.
- Ensure timely payment of staff salary and other benefits
- Maintain adequate records for all financial commitments for and against the Center.
Functions of Admin
Our Functions include:
- Take effect charge of the general Administration and Human Resource Departments.
- Ensure the development of policies and procedures that enhance corporate governance, good industrial relations and in consonance appropriate laws (Local and International).
- Advise Management on general administrative/personnel matters.
- Head the recruitment and selection process of new staff
- Timeliness of information dissemination
- Managing work-life balance of general staff
- Timely handling of all administrative issues
- Harmonious Management/Staff relationship
- Managing changes in personnel/administrative matters
- Ensure compliance to Workman Compensation Act 2012, as amended, the NSITF Act 2011 and any other laws governing Human Resource Management and industrial harmony.
- Ensure adequate Insurance cover for all the assets of the Center as may be required by law and the Board.
- Compliance with governmental and ICICE establishment regulations and policies,
- Handle all Legal matters in consultation with the DG
- Maintain documents and paperwork relating to all employees and the production and regular review of the Staff Handbook
- Maintain proper Staff Loan documents
- Maintain adequate records on all Contract/Agreements/Emoluments
- Develop a comprehensive ICICE staff database consisting of names, contact details, etc
- Property projects, maintenance and improvements
- Maintain a reliable, efficient and credible database for the assets of the Center. This must be computer based, with appropriate safe guards.
Functions of Procurement
Our Functions include:
- Develop an appropriate Procurement Policy for the Center
- Establish a data base of suppliers and contractors.
- Produce a periodic pricelist for all essential consumables needed by the Center after a market survey.
- Ensure all purchases are done in compliance with approved policies.
- Ensure that all purchases are done directly from vendors.
- Ensure that Cash Advances, where necessary, are promptly retired.
- Keep proper log of all maintenance works.
- Ensure that all maintenance works are carried out by qualified service providers and at competitive price; ensure value for money.