The Federal Government has approved new imprest (petty cash) limits for Ministers and top management personnel across its Ministries, Departments, and Agencies (MDAs) as part of efforts to promote transparency and financial accountability in public service.
According to the 2025 General Imprest Warrant issued by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, the new limits align with Financial Regulation No. 1003 and authorize Accounting Officers to disburse funds to designated imprest holders.
Approved Imprest Limits:
- Ministers: ₦700,000
- Permanent Secretaries/Director-Generals: ₦500,000
- Directors/Heads of Departments: ₦300,000
- Heads of Formations in States/Other Officials: ₦100,000
The regulation mandates that standing imprest be reimbursed once per quarter, and in exceptional cases, no more than twice within the same quarter.
Additionally, all procurements above ₦1 million must go through the formal contract award process as stipulated in the Public Procurement Act, 2007.
The Finance Ministry also directed all Accounting Officers to submit 2024 imprest expenditure reports within 30 days, along with a current list and locations of authorized imprest holders.
To ensure efficient fund management:
- Imprest holders must operate designated bank accounts,
- Submit monthly reports of disbursements and retirements to the Office of the Accountant-General of the Federation.
Violations of these financial regulations may lead to withdrawal of imprest privileges and disciplinary measures.
