The Federal government has approved imprest limits for Ministers and other members of top management across its Ministries, Departments and Agencies.
The new limits set by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, were contained in the 2025 General Imprest Warrant.
The warrant is said to be in line with the Financial Regulation No. 1003, which authorizes Accounting Officers across all arms of government and agencies to approve disbursements to designated imprest holders.
The details showed that N700,000 was approved for Ministers. Permanent Secretaries/Director-Generals are to receive N500,000; while Directors and Heads of Departments are to receive N300,000; and Heads of Formations in each State and other authorized officials are to receive N100,000.
The regulation stipulates that reimbursements for standing imprest are to be processed once per quarter, and not more than twice within the same quarter in exceptional cases.
It provides that all purchases and services valued at above N1 million and above must be procured through a formal contract award process as stipulated in the Public Procurement Act, 2007.
The minister stated that these steps were part of efforts to enhance transparency, accountability, and efficiency in the use of public funds.
Accounting officers have been given 30 days within which to submit details of imprest expenditures from 2024, along with the list and location of entitled imprest holders for the current Fiscal Year.
According to the new regulation, “To facilitate efficient record-keeping and accountability, imprest holders must open operational bank accounts for managing these funds.
“Monthly returns showing disbursements and retirements must be submitted to the Office of the Accountant-General of the Federation.”
It warned that any violation of financial regulations may result in the withdrawal of imprest rights from the responsible officer, along with appropriate disciplinary action.
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