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Reps summon CBN gov, AGF over bailout spending

 

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Reps summon CBN gov, AGF over bailout spending

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The House of Representatives Special Committee investigating the utilisation of take-off grants, bailout funds, and intervention allocations to government institutions on Thursday summoned key government bodies, including the Central Bank of Nigeria, the Office of the Accountant General of the Federation, and the Federal Ministry of Health.

The session, held at the National Assembly in Abuja, forms part of an ongoing probe following a resolution passed by the House on March 6, 2025.

The motion of urgent public importance, moved by House Minority Leader, Kingsley Chinda, raised concerns over alleged diversion and mismanagement of government intervention funds.

Chinda noted that while funds had been allocated over the years to both new and existing government agencies to support operations and settle liabilities, widespread allegations of misappropriation had surfaced, threatening the credibility of public service delivery.

“The House is worried that persistent allegations of diversion and mismanagement of these funds, as well as the potential failure to utilise them for their intended purposes, undermine the effectiveness of vital public services and projects,” he said.

Consequently, Speaker Tajudeen Abbas constituted a Special Committee led by Emeka Chinedu (PDP, Imo) to investigate fund utilisation by Ministries, Departments, Agencies, and Government-Owned Enterprises from 2015 to date.

Appearing before the committee on behalf of the CBN Governor, Mr. John Hammah, Acting Director of Development Finance, pledged the bank’s cooperation but requested additional time to compile accurate data spanning the period under review.

“Mr Chairman and honourable members, we only received your invitation yesterday. We have quickly put this report together but now realise the broader scope of your investigation. We respectfully request additional time to provide comprehensive data,” he said.

Following deliberations, Committee Chairman Chinedu Martins granted the CBN a two-week extension and directed that CBN Governor Olayemi Cardoso appear in person on May 2, 2025.

Similarly, Mr. James Abalaka, who represented the Office of the Accountant General, was given the same two-week period to furnish the committee with detailed records of disbursements made to various agencies.

The hearing also featured officials of the Economic and Financial Crimes Commission.

The commission’s secretary, Muhammad Hammajoda, called on the Accountant General’s office to provide a formal, structured report detailing the amounts disbursed and their intended purposes.

“We want a formal report detailing the amounts and purpose of disbursement. Once received, we will analyse the documents thoroughly,” Hammajoda stated.

In the same vein, the Minister of Health and Social Welfare, Prof. Ali Pate, represented by Deputy Director of Accounts, Mr. Olatunde Makinde, requested more time, citing the need to obtain accurate data from institutions under the ministry’s oversight across the country.

“We don’t want to submit inaccurate information. Please allow us more time to collect relevant documents from the institutions under us,” Makinde appealed.

Representing Speaker Abbas at the hearing, House Leader Prof. Julius Ihonvbere, reiterated the House’s commitment to transparency and accountability.

“The House has implicit confidence in this committee to conduct a thorough and impartial investigation. Our goal is to promote good governance and optimise the use of public resources,” he said.

The Committee Chairman, Martins, emphasised the importance of the probe, urging honesty from all government representatives.

“This is not a witch-hunt. We are here to ensure that every naira spent serves the interest of Nigerians. We urge full cooperation to help us deliver on this mandate,” Martins added.

 

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