The Bayelsa State Treasury department which is an offshoot of the Rivers State Treasury is under the Ministry of Finance. It came into being on the 1st of October 1996 when the State (Bayelsa) was created by the then Head of State, Late Gen. Sani Abacha.
The financial authorities backing Treasury Office operations are derived from the following:
- The constitution of the Federal Republic of Nigeria
- Finance (Control and Management) Act 1958
- The financial legislation i.e Annual Appropriation Law, the supplementary Appropriation Law, and the Allocation Revenue Act of 1989 as amended.
- Financial Regulations.
- Treasury Circulars and guidelines
- Timely Preparation of Financial Statement of Bayelsa State Government
- Strict adherence to due process guidelines
- Speedy and accurate processing of payment vouchers
- Adherence to relevant Accounting Standards and other Regulatory Framework
- Computer application in service delivery
- Continue collaboration with stakeholders in respect to best practices
The Treasury Headquarters is headed by the Accountant-General of the State whose responsibilities as contained in the Financial Regulation (2009) are:
- Serve as the Chief Accounting Officer of the Receipts and payments of the State Government.
- Supervise the accounts of ministries, parastatals, and extra ministerial departments of the State.
- Collate, present and publish statutory financial statement of the State Government and any other statement of account as required by the Commissioner of Finance.
- Manages the investments of the state.
- Maintains and operates the State account.
- Formulate the accounting policy of the State Government.
- Provides financial regulations and issues treasury circulars to ministries and parastatals to ensure that there are adequate systems in the public offices for the control of the collection and disbursement of public funds and for the coordination of the accounting system.
- Conduct routine and in-depth inspection of the books of account of Ministries, Department and Agencies to ensure compliance with rules, regulation, policies, decision and maintenance of accounting code and internal audit guides.
- Investigate cases of fraud, loss of funds assets and store items and other financial malpractices in Ministries, Department and Agencies.
- Organize training of accountant and audit personnel in all MDA’s
- List Item Text Three