The State Ministry of Finance (MOF) was established in 1964 and became the core administrative and management body of the state’s financial resources. MOF is responsible for the preparation of annual revenue estimates and manages the state’s public expenditures. MOF also plays a role in financial planning and state investments in addition to being the driving force of the administrative machineries toward economic and social development in accordance with the state’s development planning policies.
The MOF acts as a coordinating centre for the inflow of federal funds and foreign aids for the state’s economic development. To strengthen the state’s financial management and accounting, MOF works closely with the National Audit Department to ensure compliance with the Financial Procedure Act 1957 (Revised 1972),Treasury Instructions, and on related matters enshrined in the state and federal constitution.
There are two (2) departments, two (2) statutory bodies and nine (9) agencies under the MOF.