INVESTMENT AND LOANS

  1. FUNCTIONS OF THE DEPARTMENT

The Department of Investment and Loans is responsible for managing Government Investments, administering internal and external loan activities and coordinating internal revenue generation activities on behalf of the State.  It also advises Government on financial policies of the State.  There are three divisions in the Department.  The divisions are listed below along with their responsibilities.

1.1     INVESTMENT

  1. I) Advises Government on investment;
  2. ii) Manages Government investment portfolio;

iii)        Monitors, collects and collates dividends on Government

Investments with a view to ascertaining actual returns on such

investments;

  1. iv) The Department, through the Ministry of Finance Incorporated (MOFI)

stands as the corporate arm of the State Government;

  1. v) Direct supervision of the Universal Investment & Development

Company (UIDC), Delta Trust Mortgage Finance Limited and

Universal Investment Development Company Securities Limited

(UIDC)  Securities:

1.2      LOANS

  1. i) Processes loans on behalf of the State;
  2. ii) Administers and Manages Government debt stock;

iii)                     Processes foreign loans on behalf of the State Government;

1.3        REVENUE

  1. Serves as the secretariat of the State Government of Revenue

Generating Ministries. Committee stopped functioning due to non-approval of its allowances, but it could be reinstated;

  1. Collates revenue returns from the various Ministries, Departments and Agencies, (MDAs);

iii.        Reconciles returns with actual revenue figures in Government coffers;

  1.    Creates revenue Heads and subheads for MDAs;
  2.     Prepares revenue and Capital receipts estimates for the State Budget;

 

2.0        PERSONNEL

The staff in the Department are as follows:-

  1. IfeanyiMok –    Assist. Chief Admin. Officer
  2. EseogheneUgo –    Assist. Chief Admin. Officer
  • Daniel Umukoro –    Assist. Chief Admin. Officer
  1. E.O. Ekure –    Assist. Chief Admin. Officer
  2. Mrs A.N. Irimisose –    Officer I
  3. MrsNwokolo N.A. –    Admin Officer II
  • Boyo Joy             –    Admin Officer II
  • MrsAdiefe A. –     Confidential Sec.
  1. UwaborLoveth –      Executive Officer
  2. Mrs J. Onyebuashi –   Clerical Officer II
  3. IfeanyiAgbakwudoAssist. Clerical Officer