From Ndubuisi Orji, Abuja
The House of Representatives Committee on Public Assets, yesterday, queried the Ministry of Finance Incorporated ( MOFI) for alleged Extra-budgetary expenditure.
Chairman of the committee, Ademorin Kuye, queried MOFI when the Managing Director, Armstrong Takang, appeared before the panel to give account of its activities.
The committee, while grilling MOFI management on efforts to improve the revenue of the government, berated the agency for alleged reckless spending.
Kuye directed MOFI to furnish the parliament with the relevant documents on all government assets it is managing within seven days.
“This is an agency we had high hopes of. What we request of you now is this classes of assets, including shares of publicly traded entities, limited liability entities and foreign based and other businesses. A list of these assets home and abroad. Improvements that you have made there upon and how it has helped the GDP.
“Another class is assets is the financial assets, which includes public and private equities investments, fixed income and hedge funds, the fixed assets includes the real estates. We need you to give us a list of those estates.
“We would like to have the value of each if these real assets, revenue made through them for the past ten years and the contributions they have made to the GDP.
“Another class is the cash flow generating transactions such as the concession agreement and the public private partnerships.
We want a list of those concessions under your care and tell us the revenue with evidence from such concessions.
“The last class of assets are the minerals and the intangible assets, which includes the hydrocarbon. We want to know the extent of your investments in them and what has come to Nigeria as a result of those investments.
“According to the record that you furnished us with you said 80 percent of whatever you get are put into new investments fund and then you put them into identified sectors including manufacturing, digital services and agriculture.
“According to you, you have a list of of 52 companies in your portfolio, with an estimated N18 trillion value. and over 15, 000 employees according to your records which make you a major driver of our economy.
“We want a list of those companies, your employees and how much you have recouped for Nigeria from such investments. Since inception and since your appointment, we want to know how many titled documents you have been able to obtain for our assets and how many you have been able to protect from further encroachment.”