THE WORLD BANK NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) (FEDERAL MINISTRY OF HEAL TH) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2018 AUDITED BY OFFICE OF THE AUDITOR-GENERAL FOR THE FEDERATION Plot 273, Samuel Ademulegun Street, Central Business District, Abuja. NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31st DECEMBER 2018 CONTENT PAGE CORPORATE INFORMATION 2 REPORT OF THE PROJECT MANAGEMENT TEAM 3-4 STATEMENT OF THE PROJECT MANAGEMENT RESPONSIBILITIES 5 AUDITOR'S REPORT 6-8 STATEMENT OF FINANCIAL POSITION 9 STATEMENT OF FINANCIAL PERFORMANCE 10 STATEMENT OF CHANGES IN NET ASSET/ EQUITY 11 CASHFLOW STATEMENT 11 NOTES ON THE ACCOUNT 13-19 MEMORANDUM REPORT - SUMMARY OF INFLOW AND OUTFLOW 20 NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018 CORPORATE INFORMATION SENIOR PROJECT MANAGEMENT TEAM 1. Dr. Emmanuel Meribole - Director/Principal Investigator 2. Okechukwu Okwudili - Program Officer 3. Udechukwu Obi Osakwe - Project Accountant 4. Akin Fayinminu - Assistant Project Accountant 5. Nwokedi Nwodo - Procurement Officer 6. Mrs. Caroline Abdusalam - Project Internal Auditor IMPLEMENTING AGENCY Nigeria State Health Investment Project (NSHIP) Federal Ministry of Health, 11th Floor, Federal Secretariat Complex, Phase Ill, Ahmadu Bello Way, Central Area, P.M.B. 083, Garki- Abuja. AUDITORS Office of the Auditor-General for the Federation BANKERS Central Bank of Nigeria Standard Chartered Bank 2 NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2018 REPORT OF THE PROJECT MANAGEMENT TEAM The Project Management Team has the pleasure of presenting this report and accounts for the year ended 31st December, 2018. Project Overview The Nigeria State Health Investment Project (NSHIP), is a World Bank Assisted Project whose mijor objectives are to improve the delivery and use of high impart maternal and child health interventions improve care at selected facilities in the participating states, by ensuring pro- poor focus. The Project was negotiated by the Government of Nigeria and the World Bank on March 1, 2012 and approved by the Board of the World Bank on April 12, 2012. The Project which has a five (5) year life span, became effective on October 11, 2012 and is expected to close on June 30, 2018. Three states: Adamawa, Nasarawa and Ondo States are participating in the project as a pilot scheme, while the Federal Ministry of Health is the supervising Ministry. Functions of the Team * The Team has the overall responsibilities of project planning, execution and monitoring. * They interface with World Bank and equally ensure that funds are disbursed in line with the requirement of the World Bank. * They have the responsibilities of preparing the accounts of NSHIP, render quarterly returns of * Income and expenditure and end of financial statement. * They ensure adequate internal control policy, continuous audit of the project and render quarterly audit report to World Bank. Funding the Project The NSHIP total project cost was U$$ 170m. U$$150m to be borrowed from International Development Association (IDA); and U$$20m to be funded through Health Results Innovation Trust Fund. However, Federal Government of Nigeria contributed to the project. Expenditure of the Project The disbursement of the fund is designed in two components with provision for contingencies as f0lows. NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2018 REPORT OF THE PROJECT MANAGEMENT TEAM (CONT.D) Component 1: Result Based Financing (RBF) - U$$122m; the project aims to strengthen service delivery and institutional performance by using two RBF approaches which are: * Performance Based Financing (PBF) for outputs of health facilities and Local Government Area Primary Health Care (LGA PHC) Departments. * Disbursement Link Indicators (DLI) at State and LGA level. Component 2: Technical Assistance (TA) - U$$12m; for (i) Strengthening of States Projects implementation capacity. ( Support to Federal, State, LGA and facility levels to manage and operate the RBF approach. * Overall project management activities, as well as Monitoring and Evaluation (M&E) activities aimed at providing independent assessment of results and building national capacity for M&E. They are divided as follows: * Federal Ministry of Health: U$$ 10m. * National Primary Health Care Development Agency (NPHCDA): U$$ 12m Contingencies: - U$$ 12.2m State of Affairs: As a result of delay in opening of the Treasury Single Account (TSA) as instructed by Federal Government of Nigeria, NSHIP had no transaction in 2016. However, the TSA account which was opened in 2017 and transactions have commenced. Result for 2018 Accounting year are as follows: 2018 2017 Revenue 379,545,226.03 351,839,208.00 Surplus /(Deficit) for the year 152,004,620.49 (583,555,471.26) Property, Plant and Equipment 78,485,934.11 48,679,902.94 4 NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2018 STATEMENT OF THE PROJECT MANAGEMENT RESPONSIBILITES The International Public Sector Accounting Standards (IPSAS) and the Project implementation Manual (PIM) require the Project Management Team to prepare financial statement for each financial year that gives a true and fair view of state of financial affairs of the NSHIP at the end of the year and of its excess or deficit. The responsibilities include: a) Keep proper accounting that disclose, with reasonable accuracy, the financial position of NSHIP and comply with requirement of IPSAS. b) Establish adequate internal control to safeguard its assets and to prevent and detect fraud and other irregularities in line with S.3.3 of PIM. c) Prepare annual financial statements in accordance with IPSAS and S.3.4 of PIM, using suitable accounting policies supported by reasonable prudent judgements and estimates, and are consistently applied. The Management Team accepts responsibility for the annual financial statement, which has been prepared using appropriate accounting policies supported reasonable and prudent judgements and estimates, in conformity with International Public Sector Accounting Standard (IPSAS) as issued by International Public Sector Accounting Standard Board (IPSASB) and the requirement of the Nigeria State Investment Project (NSHIP) Project Implementation Manual. The Management Team is of the opinion that the financial statement gives a true and fair view of the state of financial affairs of NSHIP and of its excess for the year ended 31st December 2018. The Management further accepts the responsibility for the maintenance of accounting records that may be relied upon in the preparation of the financial statement, as well as adequate system of internal financial control. Nothing has come to the attention of the Management Team to indicate that NSHIP will not remain a going concern for at least twelve months from the date of this statement. Dr Emmaf el Meribole Mr Udechukwu Osakwe Director/Principal Investigator Project Accountant 5 THE AUDITOR-GENERAL FOR THE FEDERATION Audit House, Plot 273, Samuel Ademulegun Street, Central Business District, RM.B. I 28, Garki - Abuja, Nigeria. The Project Coordinator, Nigeria State Health Investment Project (NSHIP), Federal Ministry of Health, Federal Secretariat, Abuja. AUDIT OF THE NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) PERFORMED BY THE AUDITOR-GENERAL FOR THE FEDERATION AUDITOR'S REPORT Opinion I have audited the financial statements of Nigeria State Health Investment Project (NSHIP) for the year ended 31st December, 2018. These financial statements comprise the Statement of Financial Position, Statement of Financial performance, Cashflow Statement and Statement of Net Assets/Equity for the year then ended, and a summary of significant accounting policies and other explanatory information. In my opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Entity as at 31st December, 2018, and of its financial performance and its cash flows for the year then ended in accordance with International Public Sector Accounting Standards (IPSAS). Basis for Opinion I conducted the audit in accordance with International Standards for Supreme Audit Institutions (ISSAls). My responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements Section of my report. I am independent of the entity in accordance with the Code of Ethics for Supreme Audit Institutions together with the ethical requirements that are relevant to my audit of the financial statements and I have fulfilled my other ethical responsibilities in accordance with these requirements and the Code of Ethics. I believe that the audit evidences obtained are sufficient and appropriate to provide a basis for my opinion. Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with IPSAS, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 6 In preparing the financial statements, management is responsible for assessing the Entity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the project or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the entity's financial reporting process. Auditor's Responsibility for the Audit of the Financial Statements My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes my opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with (ISSAls), will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with Financial Audit Methodology (FAM), which is consistent with the Fundamental Auditing Principles (ISSAls 100-999) of the International Standards for Supreme Audit Institutions, I exercise professional scepticism throughout the audit. I also: * Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity's internal control. * Evaluate the appropriateness of accounting policies uses and the reasonableness of accounting estimates and related disclosures made by management. * Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence, obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Entity's ability to continue as a going concern. If I conclude that a material uncertainty exists, I am required to draw attention in my auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my auditor's report. However, future events or conditions may cause the Entity to cease to continue as a going concern. * Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. I communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that I identify during my audit. 7 I also provide those charged with governance with a statement that I have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be brought to bear on my independence, and where applicable, related safeguards. From the matters communicated with those charged with governance, I determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. I describe these matters in my auditor's report unless law or regulation precludes public disclosure about the matter or, when, in extremely rare circumstances, I determine that a matter should not be communicated in my report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. A M. AYINE, FCA Auditor-General for the Federation June 17, 2019 8 NIGERIA STATE HEALTH INVESTMENT PROJECT(NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED -PROJECT 1D P120798) FVINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2018 STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER. 2018 ASSET NOTES 2018 2017 NON CURRENT ASSETS 1et 1 Plant and E qtipmnent 2 78,485,934.11 48,679,902.24 CURRENT ASSETS Bank Balances 3 253,495,025.55 90,196,873.45 Receivables (staff advance) 17,803,425.64 CURRENT LIABILITIES Creditors and Accrual 4(a) 7,119,749.28 7,119,749.28 Withholding tax 4(b) 13,281,040.52 6,188,795.55 20,400,416.81 13,308,544.83 NET CURRENT ASSETS 326,383,968.48 125,568,230.86 329,383,968.48 125,568230.86 UNDED BY o Id [aKi< Cr' (,t 1,331,339,649.16 947,848,457.62 IDI Grant 202,410,000.00 202,410,000.00 FGN Contribution 168,367,015.49 168,367,015.00 General Reserve 5 (1,372,732,696.16) (1,193,057.241.76) 329,383,968.48 125,568,230.86 9 NIGERIA STATE HEALTH INVESTMENT PROJECT(NSHIP) FEDERAL MINISTRY OF HEALTH (WOLD BANK ASSISTED -PROJECT 1D P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2018 STATEMENT OF FINANCIAL PERFORMANCE REVENUE NOTE ;4 Exchange Transactions Sundry Income 7 1,027,453.14 602,027.30 Non Exchange Transaction IDA Credit 8 378,156,716.65 350,259,483.75 Lxchange Gain 9 361,056.24 977,697.00 TOTAL REVENUE 379,545,226.03 351,839,208.05 EXPENDITURES Consulting services 5,712,368.56 475,910,394.73 Operating Cost 72,269,201.76 232,548,323.73 Training 77,541,381.71 153,793,763.80 Goods 50,864,842.15 52,492,894.05 Maintance 94,000.00 380,000.00 Non consultancy 0.00 6,427,930.00 Depreciation 21,058,810.98 13,841,373.00 TOTAL EXPENDITURE 227,540,605.54 935,394,679.31 SurpI u (Deficit) for the year 152,004,620.49 (583,555,471.26) 10 NIGERIA STATE HEALTH INVESTMENT PROJECT(NSHIP) (WOLD BANK ASSISTED -PROJECT 1D P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2018 STATEMENT OF CHANGES IN NET ASSETS/EQUITY World Bank Credit IDA Grant FGN General Reserve Total Contribution As at 1/1/18 953,182,932.51 202,410,000.00 168,367,015.49 (1,193,057,241.76) 130,902,706.24 Surplus/(Deficit) for the year - 152,004,620.49 152,004,620.49 IDA credit for the year 378,156,716.65 - 378,156,716.65 - (331,680,074.88) (331,680,074.88) As at 31/12/18 1331,339,649.16 202,410,000.00 168,367,015.49 (1,372,732,696.15) 329,383,968.48 11 NIGERIA STATE HEALTH INVESTMENT PROJECT(NSHIP) FEDERAL MINISTRY OF HEALTH (WOLD BANK ASSISTED -PROJECT 1D P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2018 CASHFLOW STATEMENT 2018 2017 Cash flow from operating activities Surplus /(Deficit) for the year 152,004,620.49 (571,429,654.29) Adjustment for Depreciation 21,058,810.98 13,847,373.00 Operating Profit before Working Capital Changes 173,063,431.47 (557,588,281.29) Increase/ Decrease in Working Capital 0.00 0.00 173,063,431.47 (557,588,281.29) Increase/Decrease in Accounts Payables (10,792,732.51) (7,890,928.43) Interest received 1,027,453.14 602,027.30 Net Cash Flow from operating Activities 163,298,152.10 (566,081,237.02) Cash and Cash equivalent on 31/12/2017, & 31/12/2016 90,196,873.45 656,278,110.47 Cash and cash equivalent on 31/12/2018, & 31/12/2107 253,495,025.55 90,196,873.45 Note: The cash/cash equivalent balance of N90,196,873.45 as at 31/12/2017 was understated by N1,204,054.60. The correct figure should have been N91,400,928.05. This was due to the wrong treatment of interest received for year 2017 (N602,027.30). 12 1. NOTES TO THE FINANCIAL STATEMENTS 1.1 Principal Accounting Policies a) Basis of Accounting The financial statements have been prepared under the historical cost convention and in accordance with the accrual basis of International Public Sector Accounting Standards (IPSAS). b) Property, Plant and Equipment They are stated at cost less accumulated depreciation or impairment loss. The initial cost of an asset comprises of its purchase price or construction costs, any cost directly attributable to bring the asset into operation. Within the period, there was no impairment recorded on the Property, Plant and Equipment, hence no basis for revaluation of the assets. Derecognition of Property, Plant and Equipment An item of Property, Plant and Equipment is derecognized upon disposal or when no future economic benefits are expected to arise from continued use of the assets. Upon disposal or retirement of the property, plant and equipment, the cost and related accumulated depreciation are moved from the financial statements and any resulting gain or loss is recognized arising on derecognition of asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in the excess or deficit in the period in which the item is derecognised. c) Depreciation Property, Plant and Equipment are depreciated on straight line basis at rates considered adequate to write off their cost over their estimated useful life. The rates applied during the year are as follows: Motor Vehicles 20 Furniture and Fittings 20 Office Equipment 20 d) Inventories: Inventories are assets held in the form of materials or supplies to be consumed or distributed in the rendering of services. Inventories are stated at the lower of costs and net realizable value, determined under first-in, first-out (FIFO) method. Net realizable value is determined by reference to prices existing at reporting date. 13 e) Foreign currency transaction NSHIP financial statement is presented in Naira as the functional currency. Transaction balances: Transactions in foreign currencies are initially recorded at the functional currency spot rate at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional currency spot rate of exchange ruling at the reporting date. Differences arising on settlement or translation of monetary items are recognized in excess or deficit. Non-monetary items that are measured in terms of Jon4 c ost In a foreign currency are translated using the exchange rate at the dates of the initial t ons. Non-monetary items measured at fair value in a foreign currency are translated using the ex hange rates at the date when the fair value is determined. f) Revenue This consists of revenue from government contributions, DFID grants, exchange gains as well as bank account interest income. The revenue sources are recognized in the financial statement when NSHIP had fulfilled the criteria president to earning the income. g) Employee benefit NSHIP :s a project that has initial estimated life span of five years but has been extended for d two year" The project staffs are drawn from the Federal Ministry of Health and 1!Gn1 of the Federation. The benefit plans in terms of staff emoluments, pensions nld ;auity of staff deployed by Ministries and agencies is not the responsibilities of the project but handled by the staff respective parent ministries. However, the$ emoluments of Project drivers and PA is the responsibility of the project. h) IDI Loans: The loans are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. It is measured by the functional currency spot rate as at the date it is recognized. 14 � � D О т о � о• �° D� �т D D n �, ,� ,-� r 0� ы `° � п� � г* � Q � О� tT LT С � ��, � О с гD �� ,� � п � � т � � о ш• ь\-� � г�о � � п � il<7 ш � �,0J-г й Q- о � ГD р� С ~-' D с с �' а ,-, � � и гv го °; а w� о�о т а ш го �-' -� и и -п � 3. о � �-• �, � � n�э v' °' п ` ГD гиi и � ` � °* ''.'.. 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CASH AND BANK BALANCES 2018 2017 us Closing rate U us U Domiciliary IDA ACCT(SCB 4450) 694,338.93 306.00 212,467,712,58 3,906.56 1,170,934.65 Domiciliary Grant ACCT(SC13 4450) 0.00 0.00 110,524.07 33,709,841.35 '- N ((-BN 1032 0.00 3,103,897.88 1,927,103.82 A! - 0,18) 0.00 37,923,415.09 53,388,993.63 699,313.56 253,495,025.55 90,196,873.45 4 (a) CREDITORS AND ACCURALS 2018 2017 :14 N Foreign creditors 4,119,749.28 5,978,422.60 Honorarium to external auditors 3,000,000.00 210,373.20 7,119,749.28 6,188,795.80 (b) WITHOLDING TAX VVH I due to Federal Government 13,070,667.53 5,978,422.60 '\A/H F due to State Government 210,373.20 210,373.20 13,281,040.52 6,188,795.80 NIGERIA STATE HEALTH INVESTMENT PROJECT(NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2018 NOTE TO THE FINANCIAL STATEMENT(CONT'D) 5. GENERAL RESERVES 2018 2017 Balance brought forward (1,193,057,241.76) (307,477,115.00) Adjustment Note 6 (331,680,074.88) 302,024,655.50 Excess /(Deficit) for the year 152,004,620.49 (583,555,471.26) Balance carried forward (1,193,057,241.76) 6. PRIOR YEAR ADJUSTMENT I repreet a brought forward of material prior year errors due to IPSAS accrual adoption, I or emahttng from opening trial balance exchange rate. posiion errer between 2016 Closing balance and 2017 oper tof Wcr Id Bank Credit (N597,588,975- N579,588,975.00) 18,000,000.00 f'rterence between 2017 closing balance as per Financial -tement and 2017 trial balance closing balance for World Bink Credit (N953,182,932.51 -N947,848,457.62) 5,334,474.89 Staff Advances 17,803,425.64 WHT 13,281,040.52 Creditor 4,119,749.28 Accruals 3,000,000.00 Creditor 25,843.34 Error in exchange rate difference from 2016 270,115,543.21 331,680,074.88 17 NIGERIA STATE HEALTH INVESTMENT PROJECT(NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2018 NOTE TO THE FINANCIAL STATEMENT(CONT'D) 7. SUNDRY INCOME 2018 2017 Interest Income ($3,357.69@N306 for 2018) 1,027,453.14 602,027.30 rieret t credited to the IDA credit and grant bank accounts, converted to the reporting > on Ie sport rate 8. IDA CREDIT FOR THE YEAR $ 4 Replenishment from WB of 26/1/18 699,413.87 213,796,831.78 Replenishment from WB of 10/9/18 537,649.51 164,359,884.87 1,237,063.38 378,156,716.65 9 EXCHANGE GAIN XCHANGF DIFFERENCE IN 2018 US$ 8 Closing rate 306.00 305.48 0.52 ,H AND B VNK BALANCES as at 31/12/2018 US$ Diff Rate N Domiciliary IDA A/C (SCB 4450) 694,338.93 0.52 361,056.24 694,338.93 361,056.24 HANGE- DIFFERENCE IN 2017 US$ 01 / Closing rate 305.00 2016 Closing rate 304.50 0.50 CASH AND BANK BALANCES as at 31/12/2016 US$ Diff Rate N Domiciliary IDA A/C (SCB 4450) 1,071,844.00 0.5 535,922.00 Domiciliary Grant A/C (SCB 4450) 883,550.00 0.5 441,775.00 1,955,394.00 977,697.00 IANGE DIFFERENCE IN 2016 US$ a I inpg rate 304.50 . Cosng rate 194.71 109.79 CASH AND BANK BALANCES as at 31/12/2015 Domiciliary IDA A/C (SCB 4450) 1,061,865.00 109.79 116,582,158.35 Domiciliary Grant A/C (SCB 4450) 882,372.00 109.79 96,875,621.88 1,944,237.00 213,457,780.23 19 NIGERIA STATE HEALTH INVESTMENT PROJECT(NSHIP) FEDERAL MINISTRY OF HEALTH (WORLD BANK ASSISTED - PROJECT ID P120798) FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2018 SUMMARY OF INFLOWS AND OUTFLOW FROM INCEPTION iNFLOWS US$ A Credit 687,991.46 1,331,339,649.16 ( rant 1,300,000.00 202,410,000.00 Federal Govt. Contribution 168,367,015.49 Interest Received 3,984,938.50 Echange rate difference 269,116,170.48 1,975,217,773.63 SEqui nn73,245,607.53 ture and Fttings 9,642,199.67 Motor Vehicles 37,440,000.00 Consultancy Services 441,402,132.50 Training 377,335,838.22 Non Consultancy Services 6,427,930.00 , hholding Tax 13,070,667.52 17,803,425.64 1,721,722,748.08 'Mad Bank Balance 253,495,025.55 20