DEPARTMENT OF DEBT MANAGEMENT
- FUNCTIONS OF THE DEPARTMENT
- To record internal and external debts, debt resulting from on-lent loans, grants and counterpart funds, contractors, debts and contingent liabilities of the state.
- Undertake debt data validation and reconciliation with the Federal Debt Management office, on a quarterly basis.
- Promptly record new disbursements.
- Record and update service payments.
- Verify and reconcile external debt services guaranteed or directly taken by the State Government with the Accountant General.
- 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.
- Contribute to membership of Debt Management Committee (DCM) which ensures the com-ordination of debt management and macroeconomic policies.
- 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.
Presently, the department is made up of two staff;
- Ekwabu John .o. – Director Debt Management
- Eze Anthony – Admin Officer II