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AKWA IBOM STATE CHART OF ACCOUNT 2020
ADMINISTRATION
AKS INVESTMENT CORPORATION
    DESCRIPTION OF REVENUE    DETAILS OF REVENUE   2020
 APPROVED BUDGET   
 2019
 APPROVED BUDGET   
 OFFICE OF THE CHAIRMAN
 FEES
 Procesing Fees in Privatized Companies Procesing Fees in Privatized Companies 0.00 2,000,000.00
 TOTAL  0.00 2,000,000.00
 
 EARNING - GENERAL
 Workshops, Investment Promotion and Exhibition Workshops, Investment Promotion and Exhibition 1,000,000.00 1,000,000.00
 TOTAL  1,000,000.00 1,000,000.00
 
 RENT ON LAND AND OTHERS - GENERAL
 Rental Income Rental Income 3,000,000.00 
 TOTAL  3,000,000.00 0.00
 
 INVESTMENT INCOME
 Dividends from Government investments - Champion Breweries Dividends from Government investments - Champion Breweries 1,000,000.00 1,000,000.00
 Dividends from Government investments - Anchor Insurance Dividends from Government investments - Anchor Insurance 35,000,000.00 45,000,000.00
 Dividends from Government investments - Akwa Savings and Loans Ltd Dividends from Government investments - Akwa Savings and Loans Ltd 0.00 0.00
 Dividends from Government investments - Le Meridian Ltd Dividends from Government investments - Le Meridian Ltd 0.00 0.00
 Investment Income on Shares of Quoted Companies Investment Income on Shares of Quoted Companies 100,000.00 2,000,000.00
 Revenue to IPC Ltd Revenue to IPC Ltd 0.00 0.00
 TOTAL  36,100,000.00 48,000,000.00
 
 GRAND TOTAL 40,100,000.00 51,000,000.00
 
 
 
    DESCRIPTION OF EXPENDITURE    DETAILS OF EXPENDITURE   2020
 APPROVED BUDGET   
 2019
 APPROVED BUDGET   
 OFFICE OF THE CHAIRMAN
 SALARIES AND WAGES
 Corpers Allowance Corpers Allowance for Office of the Chairman 335,000.00 720,000.00
 Chairman and Board Member Chairman and Board Member for Office of the Chairman 8,640,000.00 8,640,000.00
 TOTAL  8,975,000.00 9,360,000.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Chairman 2,000,000.00 2,000,000.00
 Telephone Charges Intercom Service 1,000,000.00 5,000,000.00
 Telephone Charges Telephone Charges for Office of the Chairman 4,000,000.00 
 TOTAL  7,000,000.00 7,000,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Chairman 8,000,000.00 8,000,000.00
 TOTAL  8,000,000.00 8,000,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Chairman 6,000,000.00 6,000,000.00
 Magazine and Periodicals for (Protocol)Directorate Magazine and Periodicals for Office of the Chairman 1,000,000.00 1,000,000.00
 TOTAL  7,000,000.00 7,000,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Motor Vehicle / Transport Equipment Maintenance of Motor Vehicle / Transpot Equipment for Office of the Chairman 6,000,000.00 6,000,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Chairman 4,000,000.00 4,000,000.00
 TOTAL  10,000,000.00 10,000,000.00
 
 TRAINING AND STAFF DEVELOPMENT
 Local Training Local Training for Office of the Chairman 2,000,000.00 2,000,000.00
 Workshop / Seminar / Conferences Workshop / Seminar / Conferences for Office of the Chairman 1,000,000.00 1,000,000.00
 TOTAL  3,000,000.00 3,000,000.00
 
 LOCAL GRANTS AND CONTRIBUTIONS
 Grant to State Governement : Current Grant/Contributions and Subventions 1,200,000.00 1,200,000.00
 TOTAL  1,200,000.00 1,200,000.00
 
 CONSULTANCY AND PROFESSIONAL SERVICES
 Legal Services Legal Services for Office of the Chairman 3,000,000.00 5,000,000.00
 Legal Services Legal/Judgement Fees 2,000,000.00 
 TOTAL  5,000,000.00 5,000,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment at Meetings for Office of the Chairman 3,000,000.00 7,000,000.00
 Entertainment at Meetings Services of Meeting 4,000,000.00 
 TOTAL  7,000,000.00 7,000,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Medical Expenses : Local Medical Expenses : Local for Office of the Chairman 1,500,000.00 1,500,000.00
 Office and General Office and General for Office of the Chairman 5,000,000.00 5,000,000.00
 Promotion (Service Wide) Advert/Promotion 3,500,000.00 3,500,000.00
 TOTAL  10,000,000.00 10,000,000.00
 
 OTHER SERVICES
 Office Rent Office Rent and cleaning of factory site 2,000,000.00 5,000,000.00
 Office Rent Rent/furnishing of Residents/Quarters 3,000,000.00 
 Internal Audit Expenses Audit Report/Inspection 2,000,000.00 2,000,000.00
 Special Assistant on Protocol Special Assistant  5,000,000.00 5,000,000.00
 Other Services Airtel Bills 5,000,000.00 53,400,000.00
 Other Services Allowance to Coucil members 5,000,000.00 
 Other Services Group Relations/Donations 10,000,000.00 
 Other Services Hosting of Investors/guests 2,200,000.00 
 Other Services Insurance 5,000,000.00 
 Other Services Internet Services 6,000,000.00 
 Other Services Investment/trade promotion 5,000,000.00 
 Other Services Professionals Membership/Subcription 1,500,000.00 
 Other Services Public Relation/Donations 3,500,000.00 
 Other Services Security Services for Office of the Chairman 4,200,000.00 
 Other Services Services Charge-AKIPOC 3,000,000.00 
 Other Services Sub Committee Allowance 3,000,000.00 
 TOTAL  65,400,000.00 65,400,000.00
 
 EQUITY PARTICIPATION IN STRATEGIC CORE BUSSINESS VENTURE
 Re-Capitalization of Akwa Savings & Loans Ltd. to meet CBN requirement Re-Capitalization of Akwa Savings & Loans Ltd. to meet CBN requirement  1,000,000,000.00 1,000,000,000.00
 Equity Participation in Strategic Business Ventures Equity Participation in Strategic Business Ventures 0.00 0.00
 Capital Restructuring at Peacock Industries Ltd Capital Restructuring at Peacock Industries Ltd 0.00 500,000,000.00
 Equity Participation in core government investment Equity Participation in core government investment 0.00 1,500,000,000.00
 TOTAL  1,000,000,000.00 3,000,000,000.00
 
 INDEPENDENT POWER PLANT PROJECT (PHASE I & II)/ POWER DISTRIBUTION
 BVN Engr. Consult (outstanding power valuation expenses) BVN Engr. Consult (outstanding power valuation expenses) 108,000,000.00 108,000,000.00
 TOTAL  108,000,000.00 108,000,000.00
 
 OTHER ACTIVITIES OF AKICORP
 TV and Radio Entrepreneurship programme TV and Radio Entrepreneurship programme 5,000,000.00 20,000,000.00
 Database Database 2,000,000.00 10,000,000.00
 Purchase of 1No. 18 seater bus Purchase of 1No. 18 seater bus 0.00 30,000,000.00
 Purchase of 5No. utility vehicles (Toyota Corolla) Purchase of 5No. utility vehicles (Toyota Corolla) 0.00 100,000,000.00
 Entrepreneurial Finance arrangement AKSG / BOI MSME Development (Counterpart) Fund Entrepreneurial Finance arrangement AKSG / BOI MSME Development (Counterpart) Fund 0.00 1,000,000,000.00
 Participation in Foreign Trade Missions and Exhibitions Participation in Foreign Trade Missions and Exhibitions 30,000,000.00 150,000,000.00
 Sensitization Workshops / Seminars Sensitization Workshops / Seminars 30,000,000.00 80,000,000.00
 Monthly Business/Entrepreneurship clinic Monthly Business/Entrepreneurship clinic 12,000,000.00 12,000,000.00
 Purchase of 1No. Digital Camera Purchase of 1No. Digital Camera 2,500,000.00 2,500,000.00
 Staff Training/Capacity Building Staff Training/Capacity Building 30,000,000.00 100,000,000.00
 Purchase of 5No.Utility Vehicles (Hilux Van) Purchase of 5No.Utility Vehicles (Hilux Van) 0.00 100,000,000.00
 Internet Provision Internet Provision 5,000,000.00 20,000,000.00
 Intranet Provision Intranet Provision 5,000,000.00 15,000,000.00
 Intercom Development Intercom Development 5,000,000.00 20,000,000.00
 Acquisition of new computers for Directors and Desk Officers Acquisition of new computers for Directors and Desk Officers 3,000,000.00 15,000,000.00
 Office Furniture and Fittings Office Furniture and Fittings 20,000,000.00 50,000,000.00
 Consultancy for Feasibility Studies Consultancy for Feasibility Studies 10,000,000.00 20,000,000.00
 Consultancy for Equipment Verification Consultancy for Equipment Verification 10,000,000.00 20,000,000.00
 Consultancy for Due deligence Consultancy for Due deligence 5,000,000.00 30,000,000.00
 Litigation expenses Litigation expenses 10,000,000.00 30,000,000.00
 Library Development Library Development 5,000,000.00 10,000,000.00
 Documentation/Reporting Documentation/Reporting 5,000,000.00 20,000,000.00
 Printing of Promotional Materials Printing of Promotional Materials 5,000,000.00 10,000,000.00
 Corporate Profile Corporate Profile 5,000,000.00 10,000,000.00
 DVDS DVDS 500,000.00 500,000.00
 Research Research 5,000,000.00 20,000,000.00
 Publications of Journals Publications of Journals 3,000,000.00 10,000,000.00
 Publication of AKICORP Investment Series Booklet (Vol.2) Publication of AKICORP Investment Series Booklet (Vol.2) 5,000,000.00 20,000,000.00
 Entrepreneurship & Investment Promotion (Pioneer Neswpapers & Other Newspapers) Entrepreneurship & Investment Promotion (Pioneer Neswpapers & Other Newspapers) 6,000,000.00 6,000,000.00
 Payment of Liability for Website Development Payment of Liability for Website Development 10,000,000.00 21,000,000.00
 Renovation of 1 No. AKICORP building at Shelter Afrique Renovation of 1 No. AKICORP building at Shelter Afrique 10,000,000.00 
 TOTAL  244,000,000.00 1,952,000,000.00
 
 OFFICE OF THE HEAD OF FINANCE AND ACCOUNT DEPARTMENT
 SALARIES AND WAGES
 Basic Salaries GL.08 (1 Staff) 440,780.00 3,545,990.00
 Basic Salaries GL.09 (1 Staff) 437,730.00 
 Basic Salaries GL.10 (1 Staff) 582,780.00 
 Basic Salaries GL.12 (1 Staff) 605,230.00 
 Basic Salaries GL.13 (1 Staff) 641,920.00 
 Basic Salaries GL.14 (1 Staff) 797,330.00 
 Basic Salaries GL.15 (1 Staff) 947,470.00 
 Basic Salaries GL.17 (1 Staff) 1,209,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Finance and Account Department 4,280,250.00 2,771,640.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Finance and Account Department 566,220.00 354,600.00
 Domestic Servant Domestic Servant for Office of the Head of Finance and Account Department 1,710,420.00 1,425,330.00
 Responsibility Allowance Responsibility Allowance for Office of the Head of Finance and Account Department 1,645,680.00 
 TOTAL  13,864,810.00 8,097,560.00
 
 OFFICE OF THE HEAD OF PROJECT MONITORING AND IMPLEMENTATION DEPARTMENT
 Basic Salaries GL.04 (16 Staff) 2,393,760.00 2,740,460.00
 Basic Salaries GL.08 (9 Staff) 2,513,920.00 
 Basic Salaries GL.09 (1 Staff) 401,260.00 
 Basic Salaries GL.13 (1 Staff) 641,260.00 
 Basic Salaries GL.15 (1 Staff) 947,260.00 
 Basic Salaries GL.17 (1 Staff) 1,209,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Project Monitoring and Implementation Department 7,216,910.00 2,046,330.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Project Monitoring and Implementation Department 810,650.00 274,050.00
 Non - Accident Bonus Non - Accident Bonus for Office of the Head of Project Monitoring and Implementation Department 17,500.00 
 Domestic Servant Domestic Servant for Office of the Head of Project Monitoring and Implementation Department 1,710,420.00 1,710,400.00
 Responsibility Allowance Responsibility Allowance for Office of the Head of Project Monitoring and Implementation Department 1,059,050.00 
 TOTAL  18,920,990.00 6,771,240.00
 
 OFFICE OF THE HEAD OF INVESTMENT PROMOTION AND APPRAISAL DEPARTMENT
 Basic Salaries GL.12 (1 Staff) 583,990.00 6,151,340.00
 Basic Salaries GL.13 (2 Staff) 1,463,500.00 
 Basic Salaries GL.15 (1 Staff) 792,050.00 
 Basic Salaries GL.16 (2 Staff) 2,072,860.00 
 Basic Salaries GL.17 (1 Staff) 1,209,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Investment Promotion and Appraisal Department 4,816,790.00 4,695,960.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Investment Promotion and Appraisal Department 612,140.00 615,130.00
 Domestic Servant Domestic Servant for Office of the Head of Investment Promotion and Appraisal Department 3,420,840.00 3,135,730.00
 Responsibility Allowance Responsibility Allowance for Office of the Head of Investment Promotion and Appraisal Department 1,616,880.00 
 TOTAL  16,588,050.00 14,598,160.00
 
 OFFICE OF THE HEAD OF PLANNING RESEARCH AND STATISTICS DEPARTMENT
 Basic Salaries GL.13 (1 Staff) 844,040.00 8,198,400.00
 Basic Salaries GL.15 (2 Staff) 1,770,600.00 
 Basic Salaries GL.17 (1 Staff) 1,209,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Planning Research and Statistics Department 2,779,550.00 7,024,190.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Planning Research and Statistics Department 382,360.00 819,840.00
 Domestic Servant Domestic Servant for Office of the Head of Planning Research and Statistics Department 1,995,490.00 855,200.00
 Responsibility Allowance Responsibility Allowance for Office of the Head of Planning Research and Statistics Department 1,147,090.00 
 TOTAL  10,128,130.00 16,897,630.00
 
 OFFICE OF THE INTERNAL AUDIT DEPARTMENT
 Basic Salaries GL.13 (1 Staff) 799,130.00 2,006,320.00
 Consolidated Allowances Consolidated Allowances for Office of the Internal Audit Department 562,300.00 1,457,440.00
 Annual Leave Grant Annual Leave Grant for Office of the Internal Audit Department 79,910.00 200,630.00
 Responsibility Allowance Responsibility Allowance for Office of the Internal Audit Department 239,740.00 
 TOTAL  1,681,080.00 3,664,390.00
 
 OFFICE OF THE CORPORATE / LEGAL SERVICES
 Basic Salaries GL.14 (1 Staff) 773,150.00 1,813,760.00
 Basic Salaries GL.16 (1 Staff) 1,016,430.00 
 Basic Salaries GL.17 (1 Staff) 1,209,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Corporate / Legal Services 2,280,370.00 1,435,320.00
 Annual Leave Grant Annual Leave Grant for Office of the Corporate / Legal Services 299,860.00 181,380.00
 Domestic Servant Domestic Servant for Office of the Corporate / Legal Services 2,280,560.00 855,200.00
 Responsibility Allowance Responsibility Allowance for Office of the Corporate / Legal Services 900,000.00 
 Hazard Allowance Research/Hazard Allowance for Office of the Corporate / Legal Services 900,000.00 
 Robe Allowance Robe Allowance for Office of the Corporate / Legal Services 1,500,000.00 
 TOTAL  11,159,370.00 4,285,660.00
 
 OFFICE OF THE HUMAN RESOURCES AND GENERAL ADMIN
 Basic Salaries GL.07 (1 Staff) 355,370.00 4,442,170.00
 Basic Salaries GL.08 (3 Staff) 1,267,620.00 
 Basic Salaries GL.09 (2 Staff) 978,400.00 
 Basic Salaries GL.12 (2 Staff) 1,283,840.00 
 Basic Salaries GL.14 (1 Staff) 885,300.00 
 Basic Salaries GL.16 (1 Staff) 1,209,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Human resources and General Admin 4,329,260.00 3,558,010.00
 Annual Leave Grant Annual Leave Grant for Office of the Human resources and General Admin 597,950.00 444,210.00
 Domestic Servant Domestic Servant for Office of the Human resources and General Admin 855,210.00 1,710,400.00
 Responsibility Allowance Responsibility Allowance for Office of the Human resources and General Admin 1,794,630.00 
 TOTAL  13,556,580.00 10,154,790.00
 
 OFFICE OF THE ENTREPRENEURSHIP AND BUSINESS DEVELOPMENT DEPARTMENT
 Basic Salaries GL.15 (2 Staff) 1,808,480.00 3,022,770.00
 Basic Salaries GL.16 (1 Staff)  1,209,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Entrepreneurship and Business Development Department 2,195,130.00 2,280,370.00
 Annual Leave Grant Annual Leave Grant for Office of the Entrepreneurship and Business Development Department 301,750.00 302,280.00
 Domestic Servant Domestic Servant for Office of the Entrepreneurship and Business Development Department 1,425,350.00 2,290,530.00
 Responsibility Allowance Responsibility Allowance for Office of the Entrepreneurship and Business Development Department 667,630.00 
 TOTAL  7,607,340.00 7,895,950.00
 
 GRAND TOTAL 1,578,081,350.00 5,265,325,380.00