Reps direct standing committees to verify FG moveable assets

The House of Representatives on Tuesday directed all its standing committees to verify moveable assets from contracts awarded by Federal Government Ministries, Departments and Agencies from 2010 till date.

The committees are expected to report back to the House within 12 weeks for further legislative action.

The House resolution followed a motion sponsored by Honourable Kehinde Agboola and seven others entitled, “need for verification of moveable assets from contracts awarded by government ministries.”

The lawmaker while moving the motion said that “those assets are usually never purchased or accounted for, and in most cases, the costs are deducted from final payment to contractors without any of the assets being traced, thus accounting for losses to the federal government of over two trillion naira in the last five years.

According to him, “the practice of disposing assets without due process and the failure to pay the revenues amounting to over N50 billion accruing from them into government coffers.”

Most of the MDAs he said were not accountable for their assets or maintain adequate book keeping of assets as required by paragraphs 2106 and 2128 of the financial regulations.

The lawmaker added that most MDAs, in proposing award of contracts for capital, consultancy and supplies, make provisions for purchase of assets such as project vehicles, computers, earth moving equipment, among others, in their bills of quantity.

He however warned that “if nothing is done to check these nefarious activities, corruption will remain endemic in the public sector and revenue leakages will persist”.

The motion scaled through when it was put to voice vote by the Speaker, Hon Yakubu Dogara.