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DEBT MANAGEMENT OFFICE

The Gombe state DMO was established to centrally coordinate the management of the state’s debt. The office works closely with the Ministry of Finance and Economic Development and other Offices under the ministry to help ensure a viable and strong economy for the state. Basically, to achieve a level of autonomy and to ensure professionalism in line with international best practice, the Gombe state DMO was established as an Office under the state Ministry of Finance and Economic Development.

It is headed by a Director-General, who is a technocrat and professional in the areas of debt management.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][ultimate_heading]

FUNCTIONS OF THE DMO

[/ultimate_heading][vc_column_text css=”.vc_custom_1617373720501{margin-right: 5px !important;margin-left: 5px !important;}”]The primary functions of the Gombe state Debt Management Office are:

  • Maintain a reliable database of all loans taken or guaranteed by the State Government or any of its agencies
  • Prepare and submit to the State Government, a forecast of loans service obligations for each financial year
  • Prepare and implement a plan for the efficient management of State’s external and domestic debt obligations at sustainable levels compatible with desired economic activities for growth and development and participate in negotiations aimed at realizing those objectives
  • Verify and reconcile external debts service guaranteed or directly taken by the State Government with Federal DMO
  • Verify and service domestic debt guaranteed or directly taken by the State Government, with the Accountant General
  • On an agency basis, service domestic debt taken by Local Government and any of their agencies, where such debt is guaranteed by the State Government
  • Advise the State Government on restructuring and re-financing of all debt obligations
  • Advice the DMC on the terms and conditions on which monies are to be borrowed
  • Submit to the State Government, for consideration in the annual budget, a forecast of borrowing capacity in local and foreign currencies
  • Prepare a schedule of any other State Government obligations such as contingent liability, both explicit and implicit, and provide advice on policies and procedures for their management
  • Established and maintain tripartite relationships between the State, International Financial Institutions (IFIs)/Donor Agencies and the Federal DMO
  • Collect, Collate, disseminate information, data and forecast on debt management
  • Carry out such other function, which may be delegated to it by the Commissioner or by an act of the State Assembly
  • Perform such other functions which in the opinion of the Department are required for the effective implementation of its functions.

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DUTIES/SCHEDULES OF FRONT, MIDDLE AND BACK OFFICES

[/ultimate_heading][vc_column_text css=”.vc_custom_1617373859697{margin-right: 5px !important;margin-left: 5px !important;}”]I) FRONT OFFICE/PORTFOLIO MANAGEMENT UNIT

  • Loan Negotiations
  • Security Issuance
  • Loans and other Financial Product
  • Risk and Asset Management
  • Government Guarantees

II) MIDDLE OFFICE/POLICY, STRATEGY AND RISK MANAGEMENT UNIT

  • Articulate State policy, Strategies and objectives of the public debt base on State Government Development Policy
  • Analyze risk and mitigating factors associated with existing and new State debt portfolio
  • Undertake research, documents and publish a periodic report on DMO operations
  • Monitor compliance with approved work plan and procedures of projects financed by loan proceeds
  • Obtain from the back office, disbursement/amortization schedules for all categories of loans and forward copy to appropriate benefitting agency
  • Undertake inspection visit on projects funded by loans and prepare a report on compliance on a project by project basis. In addition, a quarterly report detailing the progress of work on each project funded by the loan will be prepared by the middle office

III)      BACK OFFICE/DEBT RECORDING AND SETTLEMENT UNIT

  • Duly record internal and external debt, debt resulting from on-lent loans, grants and counterpart fund, contractors’ debt, and contingent liabilities of the State
  • On a quarterly basis, undertake debt data validations and reconciliation with Federal DMO
  • Promptly records new disbursements
  • Records and update service payments
  • Prepare on an annual basis, budget for debt service payments and their due dates for the approval of the Commissioner
  • At the beginning of each year send a copy of the projected debt service payment schedules to the Accountant General of the State
  • At least, one month prior, advise the Accountant General on the due dates for the debt service payment
  • Obtain demand note/bills from creditors
  • Process and pass the Demand Notes to the AG to issue payment mandate to effect payment
  • Received Payment Advice from the AG, reconcile actual and the projected dates and amounts paid, and update the records accordingly
  • On a regular basis, undertake debt service data reconciliation with the AG
  • On a regular basis, track and monitor the service of the counterpart funds

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Gombe State Ministry of Finance and Economic Development

is strategically Positioned to Deliver Relevant Formulation and monitoring of macroeconomic policies, including issues relating to fiscal policy and public finance, inflation, public debt management and Oversee to The Smooth Functioning of The Gombe states Economy, generally.

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THE MINISTRY OF FINANCE GOMBE

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The Gombe state Ministry of Finance and Economic Development was established to provide the Financial and Economic Development Support that helps the Gombe state government to translate its vision of providing the dividends of democracy to the citizens and residents of Gombe state.

Some of her Specific Functions Include

  • Budget function – Implement budget and fiscal policies of the Government of Gombe state.
  • Manage government financial assets.
  • Propose bills related to the management of government employees, particularly bills related to staffing, salaries, benefits and pensions.
  • Amortize debt and coordinate financial activities carried out within the scope of its power, for the different ministries and their related entities.
  • Be aware of and report on any initiative of a financial nature involving public expenditure and indebtedness before it is debated by Congress.
  • Participate in the negotiation of international free trade and financial agreements.

The ministry is structured into six agencies, with their respective operational departments and units.

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GOMBE STATE DEVELOPMENT PLAN 2020

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The Gombe state Ministry of Finance and Economic Development was established to provide the Financial and Economic Development Support that helps the Gombe state government to translate its vision of providing the dividends of democracy to the citizens and residents of Gombe state.

Some of her Specific Functions Include

  • Budget function – Implement budget and fiscal policies of the Government of Gombe state.
  • Manage government financial assets.
  • Propose bills related to the management of government employees, particularly bills related to staffing, salaries, benefits and pensions.
  • Amortize debt and coordinate financial activities carried out within the scope of its power, for the different ministries and their related entities.
  • Be aware of and report on any initiative of a financial nature involving public expenditure and indebtedness before it is debated by Congress.
  • Participate in the negotiation of international free trade and financial agreements.

The ministry is structured into six agencies, with their respective operational departments and units.

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Photos”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”POLICIES AND REPORTS” font_container=”tag:h2|text_align:center” use_theme_fonts=”yes” el_class=”sear-heading”][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][/vc_column][vc_column width=”3/4″ el_class=”ser-09″][vc_column_text][ivory-search id=”1354″ title=”Default Search Form”][/vc_column_text][/vc_column][/vc_row][vc_row disable_element=”yes” seperator_indeed_locker=”” lk_t=”ism_template_1″ lk_io=”default” lk_dm=”0″ lk_thm=”0″ lk_tuo=”0″ ru_on=”0″ uhc_on=”0″ ur_on=”0″ ref_on=”0″ el_id=”service-covid-palliatives”][vc_column width=”1/2″][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”2020 Tax Relief” pos=”left” el_class=”Custom-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][bsf-info-box icon_type=”custom” icon_img=”id^1253|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0007_img_451900-copy.png|caption^null|alt^null|title^_0007_img_451900-copy|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”2020 Tax Relief Guidelines” pos=”left” el_class=”Custom-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”Press Release” pos=”left” el_class=”Custom-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][bsf-info-box icon_type=”custom” 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icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”Covid 19 September 2020″ pos=”left” el_class=”Custom-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][bsf-info-box icon_type=”custom” icon_img=”id^1253|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0007_img_451900-copy.png|caption^null|alt^null|title^_0007_img_451900-copy|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”Audit Report on Covid 19 September 2020″ pos=”left” el_class=”Custom-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”Covid 19 Budget August 2020″ pos=”left” el_class=”Custom-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”Covid 19 Main Function August 2020″ pos=”left” el_class=”Custom-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][bsf-info-box icon_type=”custom” icon_img=”id^1253|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0007_img_451900-copy.png|caption^null|alt^null|title^_0007_img_451900-copy|description^null” img_width=”48″ title=”Why do we use it” read_more=”more” read_text=”Audit Report on Covid 19 August 2020″ pos=”left” el_class=”Custom-aio-icon last-aio-icon”]It is a long Established fact that a reader will be distracted  by the readable content[/bsf-info-box][/vc_column][/vc_row][vc_row][vc_column width=”1/2″ offset=”vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs”][bsf-info-box icon=”Defaults-book” icon_size=”38″ icon_color=”#55853f” title=”2019 Financial Statements on account of Gombe State Government for the year end 31st December 2019″ read_more=”more” read_text=”2019 Financial Statements PDF” pos=”left” el_class=”Custom-aio-icon last-aio-icon”]The report of the Accountant General and other related Financial Statement for the year ended 31st December, 2019 have been audited in compliance with all Government regulations and guidelines. In accordance with section 125(2) of the Constitution of the Federal Republic of Nigeria, 1999. I have examined the Accounts and the Financial Statement of Gombe State Government of Nigeria for the year ended 31st December 2019. Proper returns have been rendered by Ministries, Departments and their related Parastatals in Conformity with the Public Finance (Control and Management) Law of 1958. I have obtained all the information and explanation required for my audit. The audit was carried out in accordance with Auditing Requirements as specified in the Audit Law of 1959 (Chapter 14/5 (2) of the Federal Republic of Nigeria. Furthermore, projects and programme were verified in line with the concept of performance Audit in the discharge of my duty and responsibility as required by section 125(2) of the same Constitution. The Financial Statements have been certified subject to the observation/comments contained in this report. In my opinion the financial statement (No.1-4) and the related accounts give a true and fair view of the state of financial position of Gombe state Government as at 31st December 2019.[/bsf-info-box][/vc_column][vc_column width=”1/2″][/vc_column][vc_column][bsf-info-box icon=”Defaults-book” icon_size=”38″ icon_color=”#55853f” title=”2019 Financial Statements on account of Gombe State Government for the year end 31st December 2019″ read_more=”more” read_text=”2019 Financial Statements PDF” pos=”left” el_class=”Custom-aio-icon last-aio-icon”]The report of the Accountant General and other related Financial Statement for the year ended 31st December, 2019 have been audited in compliance with all Government regulations and guidelines. In accordance with section 125(2) of the Constitution of the Federal Republic of Nigeria, 1999. I have examined the Accounts and the Financial Statement of Gombe State Government of Nigeria for the year ended 31st December 2019. Proper returns have been rendered by Ministries, Departments and their related Parastatals in Conformity with the Public Finance (Control and Management) Law of 1958. I have obtained all the information and explanation required for my audit. The audit was carried out in accordance with Auditing Requirements as specified in the Audit Law of 1959 (Chapter 14/5 (2) of the Federal Republic of Nigeria. Furthermore, projects and programme were verified in line with the concept of performance Audit in the discharge of my duty and responsibility as required by section 125(2) of the same Constitution. The Financial Statements have been certified subject to the observation/comments contained in this report. In my opinion the financial statement (No.1-4) and the related accounts give a true and fair view of the state of financial position of Gombe state Government as at 31st December 2019.[/bsf-info-box][/vc_column][vc_column][ult_buttons btn_title=”VIEW ALL POLICIES” btn_align=”ubtn-center” btn_title_color=”#ffffff” btn_bg_color=”#155180″ icon_size=”32″ btn_icon_pos=”ubtn-sep-icon-at-left”][/vc_column][/vc_row][vc_row seperator_indeed_locker=”” lk_t=”ism_template_1″ lk_io=”default” lk_dm=”0″ lk_thm=”0″ lk_tuo=”0″ ru_on=”0″ uhc_on=”0″ ur_on=”0″ ref_on=”0″ css=”.vc_custom_1617364589825{background-image: url(https://mof.gm.gov.ng/wp-content/uploads/2017/05/slide_full3.jpg?id=808) !important;}”][vc_column][vc_column_text]

SOME CSDP IMPORTANT METHODS

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[/vc_column_text][vc_row_inner el_id=”mutli-blue-box”][vc_column_inner width=”1/6″ css=”.vc_custom_1617363177297{background-image: url(https://mof.gm.gov.ng/wp-content/uploads/2021/03/stratuse-document.jpg?id=1196) !important;}”][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”29 States 558 LGA”][/bsf-info-box][/vc_column_inner][vc_column_inner width=”1/6″ css=”.vc_custom_1617363196121{background-image: url(https://mof.gm.gov.ng/wp-content/uploads/2021/03/stratuse-document.jpg?id=1196) !important;}”][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”4,300 Communitles” el_class=”comu”][/bsf-info-box][/vc_column_inner][vc_column_inner width=”1/6″ css=”.vc_custom_1617363233873{background-image: url(https://mof.gm.gov.ng/wp-content/uploads/2021/03/stratuse-document.jpg?id=1196) !important;}”][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”45,581,175 Beneficiaries”][/bsf-info-box][/vc_column_inner][vc_column_inner width=”1/6″ css=”.vc_custom_1617363253018{background-image: url(https://mof.gm.gov.ng/wp-content/uploads/2021/03/stratuse-document.jpg?id=1196) !important;}”][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”17,048 Micro Projects In Total”][/bsf-info-box][/vc_column_inner][vc_column_inner width=”1/6″ css=”.vc_custom_1617363269874{background-image: url(https://mof.gm.gov.ng/wp-content/uploads/2021/03/stratuse-document.jpg?id=1196) !important;}”][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”14,895 Community Miro Projects”][/bsf-info-box][/vc_column_inner][vc_column_inner width=”1/6″ css=”.vc_custom_1617363292395{background-image: url(https://mof.gm.gov.ng/wp-content/uploads/2021/03/stratuse-document.jpg?id=1196) !important;}”][bsf-info-box icon_type=”custom” icon_img=”id^1252|url^https://mof.gm.gov.ng/wp-content/uploads/2021/03/0008_Layer-51.png|caption^null|alt^null|title^_0008_Layer-51|description^null” img_width=”48″ title=”2,153 Group Micro Projects”][/bsf-info-box][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”blue” border_width=”4″][/vc_column][/vc_row][vc_row disable_element=”yes” seperator_indeed_locker=”” lk_t=”ism_template_1″ lk_io=”default” lk_dm=”0″ lk_thm=”0″ lk_tuo=”0″ ru_on=”0″ uhc_on=”0″ ur_on=”0″ ref_on=”0″][vc_column][vc_custom_heading text=”Meat Our Team” font_container=”tag:h2|text_align:left|color:%23141414″ use_theme_fonts=”yes”][vc_column_text]Get to know the stakeholders of CSDP[/vc_column_text][/vc_column][/vc_row][vc_row disable_element=”yes” seperator_indeed_locker=”” lk_t=”ism_template_1″ lk_io=”default” lk_dm=”0″ lk_thm=”0″ lk_tuo=”0″ ru_on=”0″ uhc_on=”0″ ur_on=”0″ ref_on=”0″][vc_column width=”1/4″][mvc_team_profile image_id=”468″][vc_column_text]

   Mark J. Jones

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   Mark J. Jones

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   Mark J. Jones

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   Mark J. Jones

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_headings style=”theme3″ linewidth=”0″ borderwidth=”0″ borderclr=”#ffffff” title=”MEET OUR TEAM” align=”left” google_fonts=”font_family:Abril%20Fatface%3Aregular|font_style:400%20regular%3A400%3Anormal” titleclr=”#3e474c”]Get to know Stakeholders of CSDP[/vc_headings][/vc_column][/vc_row][vc_row][vc_column][vc_team_carousel title=”” num_items=”7″ columns_count=”4″][/vc_column][/vc_row][vc_row][vc_column][vc_separator border_width=”2″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

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