The Departmental Committee on Finance and National Planning is established pursuant to Standing Order 216 and the Second Schedule of the National Assembly  Standing Orders and is mandated to consider all matters relating to public finance; public audit policies;  monetary policies; financial institutions (excluding those in securities exchange); economy, investment policies; competition; banking; insurance; national statistics; population; revenue policies including taxation; national planning and development; and digital finance, including digital currency.

Pursuant to Standing Order 216(5), the Committee is mandated to-

(a) investigate, inquire into, and report on all matters relating to the mandate, management, activities, administration, operations and estimates of the assigned Ministries and departments;

(b) study the programme and policy objectives of Ministries and departments and the effectiveness of the implementation; (ba) on a quarterly basis, monitor and report on the implementation of the national budget in respect of its mandate;

(c) study and review all legislation referred to it;

(d) study, assess and analyze the relative success of the Ministries and departments as measured by the results obtained as compared with their stated objectives;

(e) investigate and inquire into all matters relating to the assigned Ministries and departments as they may deem necessary, and as may be referred to them by the House;

(f) vet and report on all appointments where the Constitution or any law requires the National Assembly to approve, except those under Standing Order 204 (Committee on Appointments);
(fa) examine treaties, agreements and conventions;

(g) make reports and recommendations to the House as often as possible, including recommendation of proposed legislation;

(h) consider reports of Commissions and Independent Offices submitted to the House pursuant to the provisions of Article 254 of the Constitution; and

(i) examine any questions raised by Members on a matter within its mandate.