Our Services

FRAN delivers a wide range of services that support governments, institutions, and stakeholders in achieving stronger fiscal governance. Its core services include:

Legal and Policy Advocacy

(a) Advocate for the implementation, enforcement, and review of fiscal laws and financial governance legislation at all tiers of government in Nigeria, including:

• The Fiscal Responsibility Act and equivalent laws at the Federal, State, and Local Government levels.

• The Public Finance (Control and Management) Act and corresponding State laws.

• The Audit Act, 2009 Financial Regulations, Financial Instructions, Financial Memoranda and associated regulations at the Federal, State, and Local Government levels.

• The Procurement Act 2007 and corresponding State laws.

• Financial Reporting Council Amendment Act 2023

(b) Engage, collaborate, and liaise with key legal and regulatory stakeholders, including:

• The Fiscal Responsibility Commission is responsible for the enforcement of relevant fiscal laws.

• The Attorney General of the Federation and State Attorneys General are to strengthen legal frameworks for the enforcement of fiscal responsibility, procurement, and audit compliance.

• Financial Reporting Council of Nigeria for the enforcement and implementation of financial reporting standards.

Resource Mobilization

(a) Source and receive grants, donations, and other forms of financial support from:

• International development partners such as the World Bank, International Monetary Fund (IMF), African Development Fund, and European Union (EU).

• The Federal, State, and Local Governments of Nigeria.

• Local and international non-governmental organizations, foundations, and donor agencies, for the purpose of supporting the Foundation’s training, research, capacity-building, and technical assistance programs aligned with its objectives.

(b) Network, collaborate with organizations and entities sharing similar ideals, aims and objectives for the promotion and attainment of fiscal responsibility across all levels of governance in Nigeria.

Promote the adoption, adaptation, and implementation of internationally recognized and nationally approved public financial management standards and reporting frameworks, including:

• The National Chart of Accounts (COA) in accordance with International Public Sector Accounting Standards (IPSAS), Cash and Accrual Basis (2012 and subsequent editions), as approved by the Federation Accounts Allocation Committee (FAAC).

• The prescribed formats for General-Purpose Financial Statements (GPFS), both on Cash and Accrual Basis (2012 and subsequent editions).

• Approved templates for IPSAS-compliant budgeting (Cash Basis, 2013 and subsequent editions).

• The National Treasury Circular dated 13th May 2013, mandating the adoption of IPSAS by public entities in Nigeria.

Standards and Framework Promotion

(a) Design and deliver structured training and capacity-building programs to enhance the competencies of public and private sector stakeholders in the areas of:

• Fiscal transparency, accountability, and discipline.

• Implementation and compliance with IPSAS and other financial reporting frameworks.

• Implementation of the Fiscal Responsibility Act and Laws by all levels of government.

(b) Provide advisory and technical assistance services to key public sector institutions, including but not limited to:

• The Accountant General of the Federation and States on the development of Annual Cash Plans, utilization of the Government Integrated Financial Management Information System (GIFMIS), preparation of Audited Financial Statements and Budget Implementation Reports.

• The Honorable Minister of Finance and State Commissioners for Finance on Ministry/Department/Agency (MDA) Work Plans, Disbursement Schedules, and preparation of Consolidated Budget Implementation Reports.

• The National Assembly and State Houses of Assembly on matters related to Medium-Term Budgets, Fiscal Strategy Papers, and analysis of Audited Accounts.

• Federal and State Ministry of Budget and National Planning on matters related to National and State Development Plans, Programmes and Projects Monitoring and Evaluation

Training, Advisory, and Capacity Building

Fiscal Research and Performance Monitoring

(a) Undertake evidence-based research and analysis on:

• Public sector governance, budget implementation, fiscal strategy, monitoring and evaluation system (M & E) and performance evaluation across all levels of government.

(b) Monitor and evaluate the quality and timeliness of:

• Preparation and execution of Medium-Term Expenditure Frameworks (MTEFs), Annual and Supplementary Budgets, Virements and Appropriation Laws.

• Development and dissemination of Annual Cash Plans, Disbursement Schedules, and Quarterly Budget Implementation Reports as prescribed in Fiscal Responsibility Act/laws

• Monitor and report on the 21 Programmes, Related Projects and Objectives of the National Chart of Accounts (NCOA) implemented by all government Ministries, Department and Agencies (MDAs) of the Federal, States and Local Governments to improve accountability and impact tracking in collaboration with the relevant agencies.

Public Financial Management Systems

(a) Provide support and technical advisory on the implementation and enhancement of public financial management systems, including:

• The Treasury Single Account (TSA) system, in collaboration with the Central Bank of Nigeria and other relevant authorities, to improve government revenue management, disbursement processes, and electronic payment systems.

• Government Integrated Financial Management Information System (GIFMIS) that fully integrates with the Central Bank of Nigeria (CBN) Real Time Gross Settlement System (RTGS) and Automated Clearing House System (ACH) in collaboration with the Office of the Accountant General of the Federation and States.

• Reviewing of the detailed general and subsidiary ledger accounts in the Government Integrated Financial Management Information System (GIFMIS), supporting revenue receipts, payments (including electronic transactions), accounts receivable, accounts payable and bank reconciliations, which facilitates the preparation, publication, and audit of multi-year budgets, audited financial statements, and quarterly budget implementation reports for Federal, State, and Local Governments.