GIFMIS, Government Integrated Financial Management Information System as new payment platform for Npower Stipend
GIFMIS, Government Integrated Financial Management Information System as new payment platform for Npower Stipend – As a way to reduce the delay in payment of Npower beneficiaries’ salary or stipend, the officials created new platform or system of payment that does not require too many processes called GIFMIS (Government Integrated Financial Management Information System). See full details about GIFMIS, how it works and when salary/stipend of volunteers would be paid.
This new platform or means of payment of Npower stipend is applicable to all categories of Npower such as Npower Agro, Npower Build, Npower Teach, Npower Tech, Npower Health etc
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What is GIFMIS?
Government Integrated Financial Management Information System (GIFMIS) is an I.T based system for budget management and accounting that is being implemented by the Federal Government of Nigeria to improve Public Expenditure Management processes, enhance greater accountability and transparency across Ministries and Agencies. GIFMIS is designed to make use of modern information and communication technologies to help the Government of Nigeria to plan and use its financial resources more efficiently and effectively.
Financial Management Cycle under GIFMIS
GIFMIS will cover the entire financial management cycle including:
- Budget preparation and execution
- Treasury management and reporting
- General ledger and financial reporting
- Procurement, including Commitments, purchase orders, Maintenance of a central supplier register and Support for e-procurement
- Receipting, Accounts Receivable and Revenue Management
- Payments and Accounts Payable
- Inventory and Stock Control
- Fixed Asset Management
- Project accounting
GIFMIS, is actually the reason for the delay in payment of Npower salary or stipend, all delay were as a result of the movement of Npower beneficiaries payment delays to the platform, GIFMIS.
To enable you get the update daily on the status of your NPVN portal, always visit www.npvn.npower.gov.ng.
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