We provide structured financial oversight services encompassing contract negotiations, funds disbursement, and accounts reconciliation. Our financial management function ensures transparent, accountable, and compliant utilisation of project funds in accordance with sponsor requirements, Nigerian financial regulations, and applicable international standards.
Budget development & negotiation support
Lomic Services assists in the preparation of detailed project budgets, including justification of line items, indirect cost calculations, and currency conversion assessments where multi-currency funding is involved. We support negotiation of budget terms with funders, ensuring that approved budgets are realistic, compliant, and adequately reflect project requirements.
Funds disbursement
We manage the disbursement of approved funds to implementing partners, site institutions, and service providers in accordance with agreed disbursement schedules and pre-defined release conditions. Disbursements are documented with appropriate supporting evidence, including invoices, receipts, and payroll records, and approved at defined authorisation levels.
Accounts reconciliation
Monthly and periodic reconciliation of project accounts is conducted to verify the accuracy of expenditure records, identify discrepancies between financial systems, and ensure alignment between field expenditures and the central project ledger. Reconciliation reports are prepared and shared with sponsors in formats compliant with funder reporting templates.
Audit preparation & support
Lomic Services prepares project financial records for internal and external audits, including organisation of supporting documentation, preparation of expenditure schedules, and facilitation of auditor access to relevant financial personnel and systems. We track and implement audit findings to ensure prompt resolution of any financial management findings.
Primary audience: International and domestic funding agencies, institutional grant recipients, and government bodies requiring independent financial oversight and accountability for research or programmatic funds.