FG Sets N700,000 Imprest Limit For Ministers, Top Officials

The federal government has approved a new imprest ceiling of N700,000 for Ministers and top-level officials across all Ministries, Departments, and Agencies (MDAs).

The announcement was made through the 2025 General Imprest Warrant, signed by the minister of Finance and coordinating minister of the Economy, Wale Edun. The move is part of ongoing efforts to improve public financial management and ensure fiscal discipline.

LEADERSHIP Sunday gathered that the directive aligns with Financial Regulation No. 1003, which empowers Accounting Officers in all government entities to authorize disbursements to designated imprest holders.

“This imprest policy is in line with Financial Regulation No. 1003, which authorises accounting officers to approve disbursements to designated imprest holders,” the warrant stated.

According to the regulation, imprest reimbursements are to be made quarterly. However, in exceptional cases, a second reimbursement may be processed within the same quarter.

It further clarifies that any procurement exceeding N1 million must go through the formal contract award procedure as outlined in the Public Procurement Act of 2007.

Mr. Edun emphasised that the updated guidelines are part of a broader push to strengthen transparency, ensure fiscal responsibility, and promote more efficient management of public resources.

According to the warrant, all accounting officers are required to submit detailed reports of imprest usage for 2024 within 30 days. This includes a list of entitled imprest holders and their respective locations for the current fiscal year.

“All purchases and services valued at N1 million and above must be carried out through a formal contract award process, in accordance with the Public Procurement Act of 2007.

“Details of 2024 imprest expenditures, including the list and locations of all entitled imprest holders for the current fiscal year, must be submitted within one month,” the document stated.

To ensure proper monitoring and documentation, imprest holders must maintain dedicated operational bank accounts for managing these funds. Additionally, they must submit monthly reports detailing disbursements and retirements to the office of the Accountant-General of the Federation.

The government also warned that any breach of the financial guidelines may lead to the suspension of imprest privileges and possible disciplinary measures against the offending officials.

The warrant revealed that to facilitate efficient record-keeping and accountability, imprest holders must open operational bank accounts for managing these funds.”

“Monthly reports will be mandatory:

All disbursements and retirements must be documented and submitted monthly to the Office of the Accountant-General of the Federation,” it said.