We’ll expose corruption uncovered in public finance — Speaker Abbas

Speaker of the House of Representatives, Hon. Tajudeen Abbas on Thursday assured Nigerians of the House resolve to expose corruption in the management of public funds and recommend punitive measures for erring public officers.

Speaker Abbas stated this during the inauguration of the Special Committee set up to investigate the utilisation of take-off grants, bail-out funds and interventions allocated to Ministries, Departments and Agencies (MDAs), Institutions and Government Owned Enterprises from 2015 to date.

According to him, the Special Committee was mandated to examine the processes and procedures governing these special grants and allocations to the MDAs as well as institutions and government owned enterprise; assess and evaluate the effectiveness and efficiency of these takeoff grants, accountability, identify areas of wastage, mismanagement, or corruption and recommend appropriate sanctions.

The Speaker who described the exercise as “a very crucial investigation”, argued that “there are understandably several development gaps seeking government attention within the constraints of the limited funds.

“These gaps are equally critical to the overall wellbeing of Nigerians and the sustainability of our democratic process. This presupposes that every available fund within the disposal of the government must be prudently utilized so that these perceived gaps could be addressed in a timely and efficient manner.

“It is therefore on this premise that persons entrusted with public funds are expected to appreciate the burden of this sacred trust and must not even be perceived to have compromised themselves in the application of these funds.

“It is on record that Government after Government consider the urgent need to address some funding gaps in some Ministries, Departments and Agencies (MDAs) as well as some institutions and government owned enterprises, with the view to accelerating economic development and social stability, made special allocations as bail-out grants, take-off grants and other forms of special interventions to enable them mitigate their immediate funding constraints.

“These interventions were applauded by Nigerians as timely and crucial. These were humongous public funds that have to be accounted for by the beneficiaries. Hence this investigative hearing.

“This step has become very necessary because the concerned beneficiaries are perceived to have neither justified the utilization of the grants nor have they been able to make appropriate refunds where provided in the relevant clauses for the takeoff grants, Bailout-out funds and Interventions.

“The House is therefore determined to ensuring transparency, accountability, and prudent management of public resources in this instant case. It is not a witch-hunt rather an opportunity to ensure accountability in utilization of public funds.

“It is my candid understanding that it is only when we appreciate the obvious dangers posed by the poor utilization and lack of accountability of public resources and its implications both on our country’s image and national economy, that we could tackle the matter as a national emergency of social and security implications.

“This Special Committee we are inaugurating today therefore has the mandate of the House to comprehensively investigate these grants and interventions, examine the processes and procedures governing these special grants and allocations to the Ministries, Departments and Agencies as well as institutions and government owned enterprise; assess and evaluate the effectiveness and efficiency of these takeoff grants, accountability, identify areas of wastage, mismanagement, or corruption and recommend appropriate sanctions.

“The House has implicit confidence in the Committee’s capacity to conduct a thorough, impartial, and transparent investigation, engaging with relevant stakeholders, and gathering evidence to inform its findings. Our overall goal is to promote good governance, optimize public resource utilization, enhance accountability in government business and equally strengthen our democracy.”

“In conclusion, I must reiterate that the purpose of the Special Investigate hearing is to improve transparency in governance as one of the fundamental tenets of democracy: enhance clarity on takeoff grants. Bailout-out funds and Interventions allocation and utilization processes; strengthen accountability, promote efficient and optimal utilization of public resources for the benefit of all Nigerians and ultimately identify areas for improvement and recommend corrective measures.

“I therefore invite all stakeholders particularly the respective beneficiaries of these special grants and allocations to give the Committee their full cooperation to enable it carry out a thorough investigation and desist from doing anything capable of impeding this very important national assignment.

“Let me equally assure you that the report of this special investigation will be made public and under my watch will not be swept under the carpet,” Speaker Abbas vowed.