Our responsibilities are as follows;
OUR RESPONSIBILITIES
- Issue, on behalf of the State, such instruments as the state may desire to issue, from time to time;
- Borrow on behalf of the Government, from any individual or institutional bodies;
- Prepare and submit to the Government, a forecast of loan service obligations for each financial year.
- Prepare and implement a plan for the efficient management of state’s 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 service debts guaranteed or taken directly by the Government.
- Reconcile and where applicable service debts taken by local governments where such debts are authorized and guaranteed by the Government.
- Set guidelines for managing Government financial risks and financial exposure with respect to all loans and instruments.
- Advise the government on the restructuring and refinancing of all debt obligations.
- Advise the Governor on the terms and conditions monies are to be borrowed.
- Submit to the government, for consideration in the annual budget, a forecast of the state’s borrowing capacity.
- Prepare a schedule of any other Government obligation such as trade debts and other contingent liabilities and provide advice on policies and procedures for their management.
- Establish and maintain relationships with international and local financial institutions, creditors and institutional investors in government debts.
- Collect and collate data on data management and disseminate information with the approval of the governor.
- Advise and propose funding mechanisms for infrastructural projects that may be referred to it.
- Carry out such other functions which are required for the effective implementations of its functions under the law or any other law or which may be delegated to it by the commissioner.
