Author Topic: Nigerian House of Reps to probe FG’s bailout funds to states  (Read 253 times)

0 Members and 1 Guest are viewing this topic.

Offline internet police

  • Global Moderator
  • Hero Member
  • *****
  • Date Registered: Jul 2014
  • Posts: 1446
  • Thanked: 2 times
  • Karma: +0/-0
  • do not spam this forum
    • View Profile
Loading...

The House of Representatives on Thursday, resolved to probe issues surrounding bailout funds given to states by the Federal Government. It said that it would set up an ad hoc committee to investigate the terms and conditions of disbursement of the funds. The ad hoc committee, according to the lawmakers, will investigate utilization of the funds, level of compliance with targets and determine the necessity of further disbursement as being planned by the Federal Government.


This followed a motion raised under “Matters of Urgent National Importance’’ by Rep. Sunday Karimi (PDP)-Kogi), which was unanimously adopted by members through a voice vote. Moving the motion, Karimi said that the need to investigate the disbursement and utilisation of the funds was geared toward ensuring the welfare of citizens in the affected states.

He explained that the Federal Government approved and disbursed N689.5 billion to 27 states in July, 2015, and gave N20 billion to Kogi four months ago.

The lawmaker expressed dismay that many of the beneficiary-states had failed to utilize the funds for payment of workers’ salaries and had continued to owe the workers their salaries. He disclosed that reports had alleged that many state governments lodged the bailout funds in interest-bearing accounts and allowed their employees to continue to wallow in hunger and lack. “States like Abia, Osun, Bayelsa, Benue, Ekiti, Kwara, Plateau, Oyo, Delta, Niger, Ogun, Nasarawa, Kogi, among others, are still owing workers’ salaries for several months.” Contributing to the motion, House Leader, Femi Gbajabiamila, said that the intention of giving out the bailout funds was good, but that the application seemed to be wrongly done.

He said that in order to have transparency, the house should look into the matter and avoid same mistake in the bailout to be given soon. Also contributing, Minority Leader, Leo Ogor, said that based on the provisions of the Constitution, the house was empowered to look into the methodology and legality of the bailout funds.


 

 

New electricity tariff takes-off February 1-Says Nigerian Electricity Regulatory

Started by newspostng

Replies: 0
Views: 152
Last post January 07, 2016, 09:36:34 AM
by newspostng
Nigerian Banks release list of bank debtors that owe banks N143.81 Billion

Started by internet police

Replies: 0
Views: 307
Last post August 04, 2015, 04:45:23 PM
by internet police
Ex Nigerian Finance Boss Okonjo-Iweala denies withdrawing $1Billion for Jonathan

Started by mastercode

Replies: 0
Views: 159
Last post July 14, 2015, 02:26:45 PM
by mastercode
Nigerian banks reject deposit of foreign currencies into customers dorm account

Started by mastercode

Replies: 0
Views: 229
Last post August 03, 2015, 07:18:56 AM
by mastercode
?400 Billion worth of looted Nigerian money stashed in Europe, Asia and America

Started by admin

Replies: 0
Views: 322
Last post August 09, 2015, 12:21:07 PM
by admin
Nigerian EFCC declares former Pension boss, Abdulrasheed wanted on fraud charges

Started by mastercode

Replies: 0
Views: 207
Last post November 03, 2015, 11:02:34 AM
by mastercode
Nigerian Naira Falls To 360 As Dollar Demand Rises due to Fuel Subsidy removal

Started by mastercode

Replies: 0
Views: 129
Last post May 16, 2016, 01:53:01 AM
by mastercode
Nigerian FG appoints KPMG, PWC to audit NNPC, other revenue generating agencies

Started by admin

Replies: 0
Views: 244
Last post August 14, 2015, 09:32:06 PM
by admin
President Buhari Vows, We?ll use 2016 budget to diversify Nigerian economy

Started by admin

Replies: 0
Views: 181
Last post October 06, 2015, 11:49:15 AM
by admin
Nigerian Dwindling federal allocation worries me - Says Gov Ahmed of kwara state

Started by yungcrux

Replies: 0
Views: 112
Last post October 27, 2015, 11:57:51 AM
by yungcrux