Nigeria’s House of Representatives has resolved to set-up a Special Investigative Committee to conduct investigation into the utilisation of take-off grants, bailout funds, and other interventions allocated to government institutions from 2015 to date
The House resolution followed a Motion of Urgent Public Importance by House Minority leader, Kingsley Chinda, who drew attention to the persistent allegations of diversion of these funds and the potential failure to utilise them for their intended purposes
Chinda, in his Motion, expressed worry that this development has undermined the effectiveness of vital public services and projects, costing the country significant financial losses resulting from the mismanagement of these funds
The lawmaker explained that the losses incurred by the Federal government over the years represent a substantial drain on public resources that could have been used for essential services and national development, hindering progress towards critical social and economic objectives.
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He blamed the lack of stringent oversight and monitoring mechanisms as factors contributing to the inefficiency in the deployment of these resources, and called for an extensive investigation to clarify the scope, usage, and accountability surrounding these financial allocations
The House directed the Special Committee when it begins the probe, to make recommendations for enhancement of regulatory frameworks, sanctions, monitoring systems, and accountability measures to ensure effective and intended use of public funds in all relevant sectors of the economy.
(Editor: Ken Eseni)
