Finance and Accounts

Ensuring Fiscal Transparency and Financial Excellence

FINANCE AND ACCOUNTS DEPARTMENT

The Finance and Accounts Department is a central pillar of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), tasked with the critical responsibility of managing the Commission's financial resources with the highest levels of integrity, transparency, and efficiency.

In alignment with the Petroleum Industry Act (PIA) 2021, the department ensures that all financial operations support the Commission's mandate to promote sustainable value creation from Nigeria's petroleum resources. We are committed to robust financial reporting, effective budget implementation, and the optimization of revenue collection for the benefit of all stakeholders.

Core Objectives

To ensure accurate and timely financial reporting in accordance with international standards.
To implement effective internal controls to safeguard the Commission's assets.
To facilitate seamless revenue collection and remittance processes.
To manage the Commission's budget to ensure optimal resource allocation.
To provide financial advisory services to support strategic decision-making.

Key Responsibilities

Preparation of Annual Financial Statements and Management Reports.
Coordination of the Commission's Treasury Management functions.
Processing of payments and management of payroll operations.
Management of Tax matters and statutory compliance.
Fixed Asset Management and accounting.
Liaison with external auditors and regulatory financial bodies.

Strategic Units Within Finance & Accounts

Treasury

Manages cash flows, bank relations, and liquidity to ensure operational continuity.

Expenditure

Oversees the disbursement of funds for the Commission's various programs and services.

Final Accounts

Responsible for consolidating financial data into comprehensive reports and statements.

Budget

Formulates and monitors the implementation of the Commission's financial plan.

Revenue

Tracks and accounts for all income generated from regulatory activities.

Staff Claims

Processes employee benefits, reimbursements, and payroll-related matters.