From Ndubuisi Orji, Abuja
House of Representatives has resolved to probe the magnitude of judgment debt incurred by the various Ministries, Departments and Agencies ( MDAs), so as to address them.
The House said there was an urgent need to address the judgment debts, in order to safeguard the financial stability of the government. Therefore, it resolved to authorise the issuance of promissory note to settle the debt.
The parliamentary, consequently, mandated its Committee on Aids, Loans and Debt Management to oversee the process of issuing promissory notes and report back to it, accordingly.
This followed the adoption of a motion by Lanre Okunlola on “urgent need to ensure the prompt payment of top priority judgement debt incurred by MDAs through promissory notes.”
Okunlola, in his motion, argued that it is imperative to resolve top priority judgment debts incurred by MDAs through the issuance of promissory notes.
He expressed concern that “the various Ministries, Departments and Agencies (MDAs) of government have incurred substantial judgement debt totaling the sum of USD 556,754,584.81, GB 98,526.17 and N 226,281,801,881.64, which pose a significant financial burden on our nation’s finances.”
The lawmaker noted that “these judgement debts are top priority obligations that requires prompt resolution to ensure the financial stability and reputation of our government.”