The Speaker of the House of
Representatives, Rt. Hon. Yakubu Dogara, has said that the National Assembly
will not continue to look on as confusion trails the recovery of looted funds
and assets, adding that federal lawmakers are poised to unravel the mystery
behind the process.
Dogara dropped this hint Tuesday,
in his opening remark at a one-day public hearing by the House Joint Committee
on Public Accounts and Finance on ‘the need to ascertain the status of
recovered public assets from 1999 to date’.
He said, “It is common knowledge
that there are a lot of conflicting reports and claims from various agencies of
government concerning the status of the funds and assets recovered from some
citizens and corporate entities by law enforcement agencies.
“As a Parliament, we cannot fold
our arms and allow the confusion trailing the whereabouts of the recovered
funds and assets to continue.”
The Speaker explained that it was
for this reason that the House of Representatives resolved to mandate the Joint
Committee to investigate the issue in the “interest of accountability and
transparency.”
He added that the investigation
had become necessary in order to ascertain how resources are being
appropriated, and that the intervention was in line with the duties of the
National Assembly as stated in the 1999 Constitution.
In his words, “We believe that as
a Parliament, we owe the people of Nigeria the duty to ascertain the resources
available to government and how they are being appropriated in their interest.
“This is in line with the
exercise of our Constitutional powers in Sections 88 and 89 of the Nigerian
Constitution, 1999 as amended.”
Dogara said the total value of
recovered funds and assets is estimated at $2 trillion and the House has also
mandated its Committee on Financial Crimes to investigate whether any crime has
been committed in the course of the management and disbursement of funds
recovered by the Federal Government in the last 12 years.
He further urged the committee to
handle the matter with utmost seriousness as it is capable of eroding the
credibility of the present administration.
Responding, the Chairman, Joint
House Committee on Public Accounts and Finance, Kingsley Chinda (PDP, Rivers)
said the purpose of the public hearing was to ensure that there are clear rules
on how recovered funds and assets should be utilised and ensure strict
accountability and disbursement in line with extant laws and national
priorities.
He noted that recent statements
by the Federal Government on recovered loots appear conflicting and
contradictory, hence the need by the joint Committee to unravel the knotty
issues.
“We need to find out and declare
to all Nigerians who recovered what, total sum recovered, where it is kept,
what has been spent, and how it was spent, including mobile, immobile and
liquid assets,” Chinda assured.
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