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AKWA IBOM STATE CHART OF ACCOUNT 2020
ADMINISTRATION
AKWA IBOM PROPERTY AND INVESTMENTS COMPANY (APICO)
    DESCRIPTION OF REVENUE    DETAILS OF REVENUE   2020
 APPROVED BUDGET   
 2019
 APPROVED BUDGET   
 OFFICE OF THE MANAGING DIRECTOR
 RENT ON LAND AND OTHERS - GENERAL
 Ground Rent Ground Rent 20,000,000.00 16,000,000.00
 TOTAL  20,000,000.00 16,000,000.00
 
 RETAINED REVENUE FROM PARASTATAL AND BOARDS
 Retained Revenue from Parastatal and Boards Retained Revenue from Parastatal and Boards 5,000,000.00 5,000,000.00
 TOTAL  5,000,000.00 5,000,000.00
 
 GRAND TOTAL 25,000,000.00 21,000,000.00
 
 
 
    DESCRIPTION OF EXPENDITURE    DETAILS OF EXPENDITURE   2020
 APPROVED BUDGET   
 2019
 APPROVED BUDGET   
 OFFICE OF THE MANAGING DIRECTOR
 SALARIES AND WAGES
 Basic Salaries GL 03 (2 Staff) 299,220.00 13,963,130.00
 Basic Salaries GL 05 (1 Staff) 294,650.00 
 Basic Salaries GL 06 (1 Staff) 362,410.00 
 Basic Salaries GL 07 (5 Staff) 2,849,250.00 
 Basic Salaries GL 08 (2 Staff) 1,468,670.00 
 Basic Salaries GL 09 (1 Staff) 889,640.00 
 Basic Salaries GL 14 (1 Staff) 1,723,510.00 
 Basic Salaries GL 15 (2 Staff) 4,216,500.00 
 Basic Salaries GL 17 (1 Staff) 3,600,000.00 
 Consolidated Allowances Consolidated Allowances for Office of the Managing Director 13,553,040.00 12,436,990.00
 Annual Leave Grant Annual Leave Grant for Office of the Managing Director 1,570,390.00 1,396,310.00
 Domestic Servant Domestic Servant for Office of the Managing Director 1,800,000.00 1,584,000.00
 Responsibility Allowance Responsibility Allowance for Office of the Managing Director 2,012,340.00 2,012,340.00
 Corpers Allowance Corpers Allowance for Office of the Managing Director 1,000,000.00 1,000,000.00
 Board Members Board Members for Office of the Managing Director 4,800,000.00 
 Chairman Chairman for Office of the Managing Director 2,200,000.00 
 TOTAL  42,639,620.00 32,392,770.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Managing Director 500,000.00 500,000.00
 Telephone Charges Telephone Charges for Office of the Managing Director 100,000.00 100,000.00
 TOTAL  600,000.00 600,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Managing Director 1,500,000.00 1,500,000.00
 TOTAL  1,500,000.00 1,500,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Managing Director 1,500,000.00 1,500,000.00
 Magazine and Periodicals for (Protocol)Directorate Magazine and Periodicals for Office of the Managing Director 200,000.00 200,000.00
 TOTAL  1,700,000.00 1,700,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Motor Vehicle / Transport Equipment Maintenance of Motor Vehicle / Transpot Equipment for Office of the Managing Director 800,000.00 800,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Managing Director 500,000.00 500,000.00
 TOTAL  1,300,000.00 1,300,000.00
 
 TRAINING AND STAFF DEVELOPMENT
 Local Training Local Training for Office of the Managing Director 400,000.00 400,000.00
 Workshop / Seminar / Conferences Workshop / Seminar / Conferences for Office of the Managing Director 600,000.00 600,000.00
 TOTAL  1,000,000.00 1,000,000.00
 
 CONSULTANCY AND PROFESSIONAL SERVICES
 Research, Survey and Field Investigation Consultancy Services 500,000.00 500,000.00
 TOTAL  500,000.00 500,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment and Hospitality 600,000.00 900,000.00
 Entertainment at Meetings Service Meeting 300,000.00 
 TOTAL  900,000.00 900,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Medical Expenses : Local Medical Expenses  300,000.00 300,000.00
 Office and General Office and General for Office of the Managing Director 500,000.00 500,000.00
 Promotion (Service Wide) Advert and Promotion 300,000.00 300,000.00
 TOTAL  1,100,000.00 1,100,000.00
 
 OTHER SERVICES
 Internal Audit Expenses Audit Report/Inspection 300,000.00 300,000.00
 Other Services Allowance for Canal member 500,000.00 6,700,000.00
 Other Services Group Life Insurance 400,000.00 
 Other Services Housing of Investors and Guests 2,000,000.00 
 Other Services Insurance 300,000.00 
 Other Services Investment/trade Promotion 2,000,000.00 
 Other Services Legal/Judgement fee 300,000.00 
 Other Services Professional Membership/Subcription 200,000.00 
 Other Services Public Relation/Donation 200,000.00 
 Other Services Searity 300,000.00 
 Other Services Sub Committee Allowance 500,000.00 
 TOTAL  7,000,000.00 7,000,000.00
 
 OFFICE OF THE COMPANY SECRETARY
 SALARIES AND WAGES
 Basic Salaries GL 03 (2 Staff) 299,220.00 9,260,350.00
 Basic Salaries GL 07 (5 Staff) 2,849,250.00 
 Basic Salaries GL 08 (2 Staff) 1,468,670.00 
 Basic Salaries GL 12 (1 Staff) 1,324,640.00 
 Basic Salaries GL 13 (1 Staff) 1,533,590.00 
 Basic Salaries GL 16 (1 Staff) 2,918,200.00 
 Consolidated Allowances Consolidated Allowances for Office of the Company Secretary 10,258,730.00 9,550,880.00
 Annual Leave Grant Annual Leave Grant for Office of the Company Secretary 1,039,360.00 926,040.00
 Domestic Servant Domestic Servant for Office of the Company Secretary 600,000.00 807,360.00
 TOTAL  22,291,660.00 20,544,630.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Company Secretary 200,000.00 200,000.00
 Telephone Charges Telephone and Postal Services 100,000.00 100,000.00
 TOTAL  300,000.00 300,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Company Secretary 500,000.00 500,000.00
 TOTAL  500,000.00 500,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Company Secretary 600,000.00 600,000.00
 TOTAL  600,000.00 600,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Company Secretary 300,000.00 600,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Company Secretary 300,000.00 
 TOTAL  600,000.00 600,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment at Meetings for Office of the Company Secretary 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Office and General Office and General for Office of the Company Secretary 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 OFFICE OF THE HEAD OF ADMINISTRATION DEPARTMENT
 SALARIES AND WAGES
 Basic Salaries GL 03 (2 Staff) 299,220.00 32,654,060.00
 Basic Salaries GL 04 (2 Staff) 494,450.00 
 Basic Salaries GL 05 (3 Staff) 883,950.00 
 Basic Salaries GL 06 (16 Staff) 5,073,730.00 
 Basic Salaries GL 07 (16 Staff) 8,547,750.00 
 Basic Salaries GL 08 (2 Staff) 1,468,670.00 
 Basic Salaries GL 12 (4 Staff) 5,298,550.00 
 Basic Salaries GL 13 (1 Staff) 1,533,590.00 
 Basic Salaries GL 14 (2 Staff) 3,447,020.00 
 Basic Salaries GL 15 (2 Staff) 4,216,500.00 
 Basic Salaries GL 17 (2 Staff) 6,366,520.00 
 Overtime Payment Overtime Payment for Office of the Head of Administration Department 540,000.00 420,000.00
 Consolidated Allowances Consolidated Allowances for Office of the Head of Administration Department 36,838,530.00 28,833,750.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Administration Department 3,763,000.00 
 Non - Accident Bonus Non - Accident Bonus for Office of the Head of Administration Department 380,000.00 380,000.00
 Domestic Servant Domestic Servant for Office of the Head of Administration Department 1,800,000.00 1,500,000.00
 TOTAL  80,951,480.00 63,787,810.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Head of Administration Department 200,000.00 200,000.00
 Telephone Charges Telephone Charges for Office of the Head of Administration Department 100,000.00 100,000.00
 TOTAL  300,000.00 300,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Head of Administration Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Head of Administration Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Motor Vehicle / Transport Equipment Maintenance of Motor Vehicle / Transpot Equipment for Office of the Head of Administration Department 300,000.00 300,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Head of Administration Department 300,000.00 300,000.00
 TOTAL  600,000.00 600,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment at Meetings for Office of the Head of Administration Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Office and General Office and General for Office of the Head of Administration Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 OFFICE OF THE HEAD OF INVESTMENT DEPARTMENT
 SALARIES AND WAGES
 Basic Salaries GL 03 (2 Staff) 299,220.00 10,650,740.00
 Basic Salaries GL 05 (1 Staff) 294,650.00 
 Basic Salaries GL 12 (1 Staff) 1,324,640.00 
 Basic Salaries GL 13 (2 Staff) 3,067,180.00 
 Basic Salaries GL 14 (4 Staff) 6,894,050.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Investment Department 7,505,410.00 6,784,770.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Investment Department 1,187,970.00 1,065,070.00
 TOTAL  20,573,120.00 18,500,580.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Head of Investment Department 200,000.00 200,000.00
 Telephone Charges Telephone Charges for Office of the Head of Investment Department 100,000.00 100,000.00
 TOTAL  300,000.00 300,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Head of Investment Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Head of Investment Department 400,000.00 400,000.00
 TOTAL  400,000.00 400,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Motor Vehicle / Transport Equipment Maintenance of Motor Vehicle / Transpot Equipment for Office of the Head of Investment Department 300,000.00 300,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Head of Investment Department 300,000.00 300,000.00
 TOTAL  600,000.00 600,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment at Meetings for Office of the Head of Investment Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Office and General Office and General for Office of the Head of Investment Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 OFFICE OF THE HEAD OF FINANCE DEPARTMENT
 SALARIES AND WAGES
 Basic Salaries GL 03 (2 Staff) 299,220.00 10,034,340.00
 Basic Salaries GL 05 (1 Staff) 294,650.00 
 Basic Salaries GL 07 (2 Staff) 1,139,700.00 
 Basic Salaries GL 08 (2 Staff) 1,468,670.00 
 Basic Salaries GL 10 (2 Staff) 2,145,810.00 
 Basic Salaries GL 12 (3 Staff) 3,973,910.00 
 Basic Salaries GL 15 (1 Staff) 2,108,250.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Finance Department 8,657,480.00 7,792,560.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Finance Department 1,143,020.00 1,003,430.00
 Domestic Servant Domestic Servant for Office of the Head of Finance Department 300,000.00 300,000.00
 TOTAL  21,530,710.00 19,130,330.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Head of Finance Department 200,000.00 200,000.00
 Telephone Charges Telephone Charges for Office of the Head of Finance Department 100,000.00 100,000.00
 TOTAL  300,000.00 300,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Head of Finance Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Head of Finance Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Motor Vehicle / Transport Equipment Maintenance of Motor Vehicle / Transpot Equipment for Office of the Head of Finance Department 300,000.00 300,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Head of Finance Department 300,000.00 300,000.00
 TOTAL  600,000.00 600,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment at Meetings for Office of the Head of Finance Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Office and General Office and General for Office of the Head of Finance Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 OFFICE OF THE HEAD OF ESTATE DEPARTMENT
 SALARIES AND WAGES
 Basic Salaries GL 03 (2 Staff) 229,220.00 38,587,820.00
 Basic Salaries GL 04 (5 Staff) 1,236,110.00 
 Basic Salaries GL 05 (1 Staff) 294,650.00 
 Basic Salaries GL 06 (3 Staff) 1,087,230.00 
 Basic Salaries GL 07 (18 Staff) 10,272,200.00 
 Basic Salaries GL 08 (4 Staff) 2,937,330.00 
 Basic Salaries GL 09 (2 Staff) 1,779,290.00 
 Basic Salaries GL 10 (1 Staff) 1,072,900.00 
 Basic Salaries GL 12 (2 Staff) 2,649,280.00 
 Basic Salaries GL 13 (6 Staff) 9,201,540.00 
 Basic Salaries GL 14 (5 Staff) 8,617,560.00 
 Basic Salaries GL 15 (2 Staff) 4,216,500.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Estate Department 33,481,180.00 31,837,870.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Estate Department 4,359,380.00 3,858,780.00
 Domestic Servant Domestic Servant for Office of the Head of Estate Department 600,000.00 600,000.00
 TOTAL  82,034,370.00 74,884,470.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Head of Estate Department 200,000.00 200,000.00
 Telephone Charges Telephone Charges for Office of the Head of Estate Department 100,000.00 100,000.00
 TOTAL  300,000.00 300,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Head of Estate Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Head of Estate Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Motor Vehicle / Transport Equipment Maintenance of Motor Vehicle / Transpot Equipment for Office of the Head of Estate Department 300,000.00 300,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Head of Estate Department 300,000.00 300,000.00
 TOTAL  600,000.00 600,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment at Meetings for Office of the Head of Estate Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Office and General Office and General for Office of the Head of Estate Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 OFFICE OF THE HEAD OF PROJECT DEPARTMENT
 SALARIES AND WAGES
 Basic Salaries GL 03 (2 Staff) 299,220.00 10,869,100.00
 Basic Salaries GL 07 (2 Staff) 1,139,700.00 
 Basic Salaries GL 08 (1 Staff) 824,550.00 
 Basic Salaries GL 14 (3 Staff) 5,170,530.00 
 Basic Salaries GL 17 (1 Staff) 3,183,260.00 
 Consolidated Allowances Consolidated Allowances for Office of the Head of Project Department 9,146,440.00 11,601,970.00
 Annual Leave Grant Annual Leave Grant for Office of the Head of Project Department 1,061,730.00 1,086,910.00
 Domestic Servant Domestic Servant for Office of the Head of Project Department 1,200,000.00 600,000.00
 TOTAL  22,025,430.00 24,157,980.00
 
 UTILITIES
 Electricity Charges Electricity Charges for Office of the Head of Project Department 200,000.00 200,000.00
 Telephone Charges Telephone Charges for Office of the Head of Project Department 100,000.00 100,000.00
 TOTAL  300,000.00 300,000.00
 
 TRAVEL AND TRANSPORT
 Local Travel and Transport : Others Local Travel and Transport : Others for Office of the Head of Project Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MATERIALS AND SUPPLIES
 Office Stationery / Computer Consumables Office Stationary / Computer Consumables for Office of the Head of Project Department 300,000.00 300,000.00
 TOTAL  300,000.00 300,000.00
 
 MAINTENANCE REPAIRS AND SERVICES
 Maintenance of Motor Vehicle / Transport Equipment Maintenance of Motor Vehicle / Transpot Equipment for Office of the Head of Project Department 300,000.00 300,000.00
 Maintenance of Office / IT Equipment Maintenance of Office / IT Equipment for Office of the Head of Project Department 300,000.00 300,000.00
 TOTAL  600,000.00 600,000.00
 
 ENTERTAINMENT AND HOSPITALITY
 Entertainment at Meetings Entertainment at Meetings for Office of the Head of Project Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 MISCELLANEOUS EXPENSES - GENERAL
 Office and General Office and General for Office of the Head of Project Department 200,000.00 200,000.00
 TOTAL  200,000.00 200,000.00
 
 GRAND TOTAL 319,646,390.00 280,998,570.00