Finance & Accounts – Nigerian Institute Of Leather & Science Technology Zaria

Directorate of Finance and Accounts

Alhaji Bashir Abdullahi
Director Finance & Accounts

What We Do

The Directorate of Finance and Accounts manages the financial affairs of NILEST. We have three departments namely department of Account, department of Budget and Payroll, and department of Finance.

Teaching

NILEST through its various departments is involved in teaching at OD, ND, HD & HND levels.

Research

Research in NILEST focuses on a wide variety of aspects of the field of leather and leather products technology and leather products production.

Exhibition

At NILEST, we showcase our products at national exhibitions usually organized by the Federal Ministry of Science and Technology etc.

Our Departments

Department of Account

Department of Budget and Pay Roll

Department of Finance

Our Functions

Ensuring compliance with financial regulations and the accounting code/manual by all staff under the Directorate.
Organizing and supervising the finance and accounting functions to facilitate adequate control efficiency and smooth operation of the financial management function.
Ensuring conformance of the organization to due process.
Advising the accounting officer on all financial matters as well as the technical provision of financial regulations and other treasury and finance circulars.
Managing funds in a manner that assures smooth operations of the organization.
Maintaining proper accounting records such as books of accounts, main and subsidiary ledgers.
Ensuring adequate control and management of the property, plant and equipment register and reconciling the schedule to the general ledger on monthly basis.
Ensure existence of effective and adequate internal control system to safe guard the assets of the organization.
Ensure timely preparation, payment of salaries and remittance of third party deductions simultaneously.
Compiling and defending of the budget proposals and ensuring effective budgeting control by matching and comparing budgeted figures with actual expenditure or revenue.
Ensuring preparation and updating of information needed for Medium Term Revenue Framework (MTRF), Medium Term Expenditure Framework (MTEF), and medium Term Sector Strategy.
Liasing with the office of the Accountant General of the Federation from time to time when in doubt in the interpretation of the provisions of these regulations and other treasury circular.
Identification of all revenue sources accruable to the organization.
Maintaining and updating the database of the organisation’s revenue generating properties and assets in term of thier locations, type and the nature of the revenue each generated.
Ensuring that all revenue accruable to the organisation are received and accounted for.
Ensuring proper maintenance of General Ledger.
Ensuring the balancing of General Ledger and extraction of Trial Balance.
Preparation and presentation of General purpose financial statements.
Preparation of Annual Financial Report of the organization.
Proper maintenance of property, plant and equipment register.
Reconciliation of Bank Accounts statement.
Proper stock accounting.
Quarterly, half yearly and annual stocktaking and valuation and indicate any variances.
Prompt response to Audit queries.