DEBT MANAGEMENT

DEPARTMENT OF DEBT MANAGEMENT

  1. FUNCTIONS OF THE DEPARTMENT

 

  1. To record internal and external debts, debt resulting from on-lent loans, grants and counterpart funds, contractors, debts and contingent liabilities of the state.
  2. Undertake debt data validation and reconciliation with the Federal Debt Management office, on a quarterly basis.
  • Promptly record new disbursements.
  1. Record and update service payments.
  2. Verify and reconcile external debt services guaranteed or directly taken by the State Government with the Accountant General.
  3. Verify and reconcile external debt service guaranteed or directly taken by the State Government, with the Federal Debt Management Office.
  • Advice the Debt Management Committee (DMC) on the terms and conditions on which monies are to be borrowed.
  • Establish and maintain tripartite relationship between the State, International Financial Institution (IFIs)/Donor Agencies, and the Debt Management Office.
  1. Contribute to membership of Debt Management Committee (DCM) which ensures the com-ordination of debt management and macroeconomic policies.
  2. Undertake inspection visits on projects funded by loans and prepare reports on compliance on project by project basis. In addition, a quarterly report detailing progress of work on each project funded by loan will be prepared by the Debt Management Office.

 

  1. Personnel

 

Presently, the department is made up of two staff;

  1. Ekwabu John .o. – Director Debt Management
  2. Eze Anthony – Admin Officer II