RI PDG Giwa Osagie - Rotary District 9125

Paper Presented
D.9125 PETS – Abuja
PDG Richard Giwa-Osagie
• RI Fiscal Agent – Nigeria – Part 1
• Accountability – Part 2
Part 1
Fiscal Agent, Nigeria
How To Pay Your SAR
Payments need to be remitted at the RI exchange rate at the time of payment. The current rate can
be obtained at www.rotary.org/exchange rates
Please remit your payment to our Standard Chartered Bank Ltd account or through its partner bank,
Keystone Bank Limited using the customized payment teller. The customized payment teller (bank
deposit slip) can be obtained via your District Governor or RI Fiscal Agent Office at:
Rotary Centre, 8 Ladoke Akintola Street, G.R.A, Ikeja, Lagos, Nigeria.
Phone: (01) 810 5173 Email: [email protected] OR [email protected]
You may also make payment by bank transfer to RI account below:
Rotary International
Bank Name:
Standard Chartered Bank
Bank Address:
142, Ahmadu Bello Way, Victoria Island, Lagos, Nigeria
How To Pay Your SAR – (cont’d)
When using a standard (non-customized) deposit slip of Keystone Bank Limited (partner bank of
Standard Chartered Bank Nigeria), please remit the payment with the following bank account
A/C No:
Further Credit to:
Standard Chartered Bank
Rotary International (Account No. 0000223919)
• Always use the Customized Payment Teller indicating name of Club and purpose of payment (e.g.
SAR, RI Convention Fee, Charter fee, Reinstatement fee, Publications etc).
Where a different teller is used, the club name and/or number and the invoice number must be
clearly indicated.
Example: C000012345/SAR-0000123456
How To Pay Your SAR – (cont’d)
• Copies of Deposit Slips are to be sent directly to Mr. Emmanuel Idehen in
RI Europe & Africa Office at the mail address shown below.
• Without adequate information, it may not be possible to apply the
transaction accurately and timely to your club account. Consequently, an
unidentified bank deposit may lead your Rotary club to be terminated
from RI for unpaid financial obligations.
• All questions related to the Semiannual Report (SAR) or the financial
situation of the club can be addressed by contacting your financial
representative at the RI Europe & Africa Office in Zurich:
Mr. Emmanuel Idehen - [email protected] / Phone: +41 44 387 71 78
Proposed Improvements To SAR
With effect from July 2012, in addition to the standard paper copy, the SemiAnnual Report (SAR) will now be sent electronically to the Club email address and
the following Rotary Club Officers (if available): President, Secretary, Executive
Secretary, and Treasurer.
In compliance with the CBN directive on electronic banking, it is proposed to
introduce direct debit scheme for collection of RI membership dues with effect
from May 2012
This would bring about:
• Improved service to all clubs
• Faster, secure and more effective international delivery and payment of SAR
• Significant cost savings
• Potential improvements to cash flow
• Increased efficiency at all RI office locations
• Enhanced support and protection of our environment
Proposed Improvements To SAR What It
Means for You and Your Club
July 2012 will be the first electronic SAR delivery for Clubs with email addresses
In addition to the electronic copies, Clubs will continue receiving the standard paper SAR, unless
they have chosen to “opt out” of receiving the paper copy, which is highly encouraged
If a Club has opted out and confirmed successful e-mail delivery by one or more Club Officers, the
paper SAR package will not be distributed for January 2013
To opt out, we request that you go to the Member Access Portal (MAP) on Rotary.org and update
your club preferences from receiving the paper SAR packet effective with the January 2013 SAR.
This option will become available in the month of June.
Please note the electronic SAR will be distributed through a third party vendor from the following
email address: [email protected]
Your help and participation is the key to our success in going paperless. It is important that RI has all
the most current e-mail addresses of all Club Officers.
How To Pay To TRF
OR joesan When using a standard (non-customized) deposit slip of Keystone Bank Limited (partner
bank of Standard Chartered Bank Nigeria), please remit the payment with the following bank
account information:
Standard Chartered Bank
A/C No:
Further Credit to:
Rotary Foundation (Account No. 0000417129)
• Always use the Customized Payment Teller indicating name of Donor, Club and purpose of payment
(e.g. Annual Programs Fund, Permanent Fund, Polioplus, Matching Grant No. etc).
Where a different teller is used, the Donor name, Donor ID and Club name must be clearly
In addition, always complete a TRF Contribution Form showing details of Donor and Recipient
which must be sent together with a copy of the bank deposit slip to:
Ann-MarieCarton - [email protected] / Phone: +41 44 387 71 61
Copy to RI Fiscal Agent - [email protected], [email protected]
How To Pay To TRF – (Cont’d)
• Without adequate information, the TRF Contribution
details may not be properly applied which could lead to
delays and/or non-receipt of recognition materials.
• Any questions related to TRF contribution record for Clubs
and Rotarians can be addressed by contacting the following
staff at the RI Europe & Africa Office (EAO) in Zurich:
Ann-MarieCarton - [email protected] / Phone: +41 44 387 71 61 or
Marta Wild
- [email protected] / Fax: +41 44 422 5041
Fiscal Agent, Nigeria – History
• FA Nigeria started originally as National Joint District
Treasurer (NJDT) at a time when it was very difficult for
clubs to pay their various dues to RI because of Central
Bank of Nigeria’s foreign exchange regulations
• In addition, poor communication was also a great
hindrance to the coordination of activities of Clubs and
Districts in Nigeria.
• The NJDT subsequently became RI Fiscal Agent in
Nigeria, with its activities and roles now defined by RI
Fiscal Agent, Nigeria – History
• Furthermore, PRIP Jon B. Majiyagbe also had a
dream of finding a forum to unify Rotarians in
Nigeria in the first instance, then in West Africa
and thereafter in Africa in general
• In pursuance of this, PRIP Jon B. Majiyagbe as you
all know, got the Federal Government of Nigeria
to donate the premises now known as Rotary
Centre, GRA Ikeja where all Rotarians in Nigeria
can feel welcome and which will promote the
rapid growth of Rotary in Nigeria
Fiscal Agent, Nigeria – Recent
• With the impact of advancement of technology
on banking services and recent developments in
the banking industry in Nigeria, we are now in a
position to pass back to RI (EAO) Zurich, the
collection and disbursement of RI funds.
• Although some functions of the Fiscal Agent’s
office have reduced as a consequence of this
development, we still mediate and answer all
queries relating to collection and disbursement of
RI funds
Fiscal Agent, Nigeria – Future Roles
• The question to be considered now is the future
role that would meet the needs of Clubs and
Rotarians. This would entail the views of Rotary
Leaders on the following issues:
- How has the FA office served you in the past
- How relevant is the FA office to you today.
- What do you expect from the office now
- What other services do you think the FA
Office can continue to give you in the future
Fiscal Agent, Nigeria – Future Roles
• A questionnaire which has been designed to obtain your comments and
assist in evaluating the future roles of the FA office will be distributed for
you to complete.
• The completed questionnaire together with your comments may be sent
by email to:
- PDG J. Sanwo, (Fiscal Agent) – [email protected]
- PDG R. Giwa-Osagie – [email protected]
- PAG O. Bola-Sadipe – [email protected]
• Hard copy may be dropped at the FA Office, Rotary Centre, GRA Ikeja, or
through your District Governors.
Important: Please ensure that the completed questionnaires are returned not
later than 15th April 2012.
Part 2
Budget (projected income and expenditure) is
divided into (2) two:
a) Operations
b) Service Projects
• Draft Budget – Pre PET
• Final Budget – Club Assembly (May/June)
Administration Account
Project Accounts
TRF Accounts etc etc
Signatories Per Club’s Bylaws
- President and Treasurer or Secretary
Members Nomination Register
Cash Book
Treasurer’s Weekly Collection Register
General Ledger
PV, Receipt Books etc etc
- Per Capital Dues
- Rotarian Magazine
- Council of Legislation
- Admin (Min)
- Projects (Min)
Per Member (Minimum)
District Recommended
Not Included
EREY USD100 per annum
District Dedicated Levy & Other Levies
Club Investiture Levy etc etc
Matching Grant Levy
Approval by the Board and at Business Meeting
and/or Club’s Assembly
1) Monthly (Actual Performance/Budget)
2) Audited Financial Statements at June 30
Probity and Accountability
- Prudent Financial Management
- TRF Guidelines
- Letters of Appreciation
- Minimum Reserve Fund (for incoming
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