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XXX XXXX XXXX XXXX

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The new chart of Accounts proposed is a 15 digit Accounts Classification
Code designed to meet GFS (Government Finance Statistics). This will greatly
enhance the quality of information contained in the Financial Statements of
the Federal Government of Nigeria.

Although the code is made' up of 4 constituent parts, it should always be

looked upon as one code.



’’  
The following are the general policies employed in the designing of the
classification codes.
The classification codes of Line Ministries, Agencies and Parastatals financial
transactions have been designed to be a three-way classification code
capturing the following information:
ÿ Àesponsibility: - To identify the organizational unit that is accountable.
(Head and Sub-Org. Codes.
ÿ Authority:- To identify the appropriation or statute under which the
transaction was undertaken. (Budget Control Codes)
ÿ Line item: - To identify either the nature of the expenditure, the source of

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 the Àevenue, or the cause of the increase or decrease to financial claims
and obligations (in terms of assets and liabilities). (Sub-Head Codes).
 !"
#$ !"#%
The responsibility classification identifies the organizational unit which is
responsible and accountable for the transaction. A responsibility centre is an
organizational entity headed by a manager who:
ÿ has a budget and responsibility to determine resources required;
ÿ manages resources according to work plan;
ÿ has the responsibility to control costs in relation to results;
ÿ has received and exercises authority to initiate expenditures and approve
charges against his or her budget.

The responsibility of classification ranges from the highest managerial level,

where a single official is responsible for a program, to progressively lower
levels of delegated responsibility.

Ô

 



 
 
  


  

 

 




  
 


#&'#(
ÿ The Line Ministry will always use the same head number for Àecurrent
Capital, Àevenue or Other
ÿ The Budget Control will now identify the category of the transaction.

') * ’'&&'#

035 Ministry of Finance (LMP)
0000 Main Ministry
0050 Nigeria Customs Services
0100 Debt Management Office
0150 Budget Office
0200 Federal Inland Àevenue Services
0250 OAGF

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035   '"  #+',

0600 Peoples Bank of Nigeria

0601 National Insurance Sup. Board
0602 National Board for Community Banks

Structure of Head Classification Codes

001 - 098 Takes care of Line Ministry / Agencies ± Àecurrent

099 - 099 Takes care of Service Wide Vote
100 - 100 Takes care of MOFI (Fed. Govt. Investments) only
200 - 200 Takes care of Assets which do not result from Line
Ministries¶ operations
400 - 400 Takes care of Liabilities which do not result from Line
Ministries¶ operations

&%)# '%#

 !"&-'" &%)# '

* Transactions must be classified by authority to enable management

within line ministries to maintain records and to report to
Parliament on the exercise of the related authorities.

ù

   


  
To identify the Parliamentary
authority (appropriation) under which expenditures are made. This
classification is also used to identify controls for executive control.

ù

   


 
To identify the Parliamentary authority under
which line ministries raise money.

*    


 : To identify the Parliamentary authority under
which line ministries raise money.

*    



  

 
  : To identify the
Parliamentary authority under which financial claims and obligations
were acquired or disposed of, or their balances increased or decreased.
These authorities include certain loans, investments and advances.

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 !.#/# &%)# '%#
The control codes will be mainly used for control and reporting. Budgetary
Control Code will involve controlling expenditure in relation to the spending
authority granted by Parliament.
To control costs in relation to plans for operational accomplishment developed
by line ministries management in support of the spending authority requested.
To verify each financial transaction for availability of funds as appropriated in
the Approved Estimate.
To prevent a ministry/agency from incurring expenditure on any item not
budgeted for or spending more than the approved budgeted amount.



 
’ ’ ’

&%)# ' #'$ 
0110 Salaries and Wages
0120 Allowances

À
ÀÀ  
 À 
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&%)# ' #'$ 

0205
Travel and Transport
0206
Travel and Transport (Training)
0210
Utilities
0215
Materials and Supplies
0220
Maintenance Services
0225
Training
0230
Other Services
0235
Consulting and Professional Services
0240
Financial - General
0245
Fuel and Lubricants
0250
Miscellaneous

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0001 0999 Takes care of Àecurrent Expenditure

1000 5999 Takes care of Capital Expenditure
6000 6999 Takes care of Àevenue
7000 7999 Takes care of Assets
8000 8999 Takes care of Liabilities
9000 9999 Takes care of Service Wide Vote

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  !"’&!#%
The sub head classification identifies:

* In the case of expenditures, the types of goods or services acquired;

* In the case of revenue, the source of the receipts; and
* In the case of non-budgetary transactions, the causes of increase or decrease to
the financial claims and obligations

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 ’$##&'#$3$# %&'#
1.1
#&''# #2 $3$# %&'#
This concept is in line with GFS (Government Finance Statistics) standard of
reporting. The implementation of this concept will enable the Federal
Government to ascertain the actual cost of a project (Capital Expenditure) at
any point in time.

Where direct labour is used in the execution of a project, these classification

codes become more relevant.

1.2 2$'  %#' %-#' $# //#%(

ÿ These classification codes have been standardized.
ÿ Not all classification codes are relevant to every ministry/agency.
ÿ Individual Ministries/Agencies should make use of those classification
codes that are relevant to them.

1.3 $ '!& '(

All capital contribution to parastatals is to be made through Budget Control
Classification Code 1009. This code will not change as in the case of
Ministries, Agencies and Extra-Ministerial Departments.

1.4 -#
"'4'% #'1004-'#)'%$3$# %&'# %
#'100 &%)#3#$ 

&%)# '$
Every capital project will be given a capital budget control that will be unique
to the Head, Organization.

Example OAGF (Line ministry 035, organization 0250)

035 0250 1001 xxxx Purchase of Computers
035 0250 1002 xxxx Construction of new office

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The budget will be controlled by the project numbers 1001 and 1002. On every
transaction, the xxxx will be replaced by a recurrent sub head or a newly created
capital sub head. Thus giving the detail of the economic spending on the capital
project.

#4$’&!#%
Sub Head
Category Description
2000 Transport equipment
2100 Purchase of furniture and equipment
2200 Acquisition of land and buildings
2300 Major rehabilitation / repairs
2400 Infrastructure - roads
2500 Infrastructure - Others

Every category has detailed sub heads. Example is-as

follows:

' $'5&$2# #)'"1000’&!#%
2001 Àoad motor vehicle
2002 See Boats
2003 Aircrafts
2004 Àailways
2005 Other transport equipment

2.0 3#$  "#'100 &%)# 

On a temporary basis for 2005, a special budget control (0800). and a sub head
category (9000) for undistributed recurrent projects has been created

Example Ministry of Finance

035 0000 0800 9001 Finance Àeform Programme

Expenses for those projects will be coded as above even if economic expenditures are
for travel, training or other types of expenses. For 2006, all recurrent projects must be
detailed by sub-heads.

3.0 - ' #' %#

Cash Transfer Classification code is usually a Below-the-line Classification
Code issued to a Ministry/Department by the OAGF to enable the Ministry/
Department record and retire the movement/transfer of funds from one bank
account to another or from the main Ministry to its State Offices and
Departments or Vice-Versa where such Financial Transaction is not in itself

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 the final expenditure. Examples are:-
a. Closing Bank Account and Transferring the balance to another Bank
account.

b. All Cash Backing of AlEs issued to State Offices/Department who in

turn renders Account to the OAGF directly or indirectly through FPO
by means of rendition of Monthly Transcript.

c. Presently, most Ministry/Departments classified such Financial

Transactions in error as Above -the line Expenditure in their books as
well as in their Transcript of Accounts, thus leading to double counting
of expenditure when all the several returns received by the OAGF are
consolidated.

#(that it is important that funds receiving Ministry/Extra-Ministerial Dept.

knows the source of their funding and all such-funds should be treated in their
Cash Book and Transcript of Accounts by recognizing the Cash Transfer Code
of the fund transferring Ministry/Extra-Ministerial Dept.

4.0 ’&'# %#(

It is the absolute responsibilities of the Office of the Accountant-General of the
Federation to issue classification code to all Ministries/Extra Ministerial
Departments. Thus, the accounting officer of individual Ministries/Extra
Ministerial Department should request in writing from the OAGF classification
codes for all newly approved lines of expenditure as contained in the approved
annual budget estimates relating to the ministry.

The attached Appendices are for perusal and comprehension:

Appendix I Standardised recurrent expenditure budget control

and sub-head codes

Appendix II Standardised capital expenditure budget control and

sub-head codes

Appendix I I I  Standardised revenue budget control and sub-head

codes.

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