From Ndubuisi Orji, Abuja
The House of Representatives has said it is probing the use of grants and bail-out funds to Ministries, Departments and Agencies (MDAs) and Government Owned Enterprises (GEOs) in order to ensure prudent management of government resources.
Speaker of the House Tajudeen Abbas stated this on Thursday while inaugurating the House Special Committee saddled with the task of investigating the utilisation of the grants and intervention by the Federal Government to MDAs and GEOs.
Abbas, who was represented by the House leader, Julius Ihonbvere, noted that there are several developmental challenges confronting the country, owing to the paucity of funds. The speaker, therefore, argued there is need for prudence in the management of government resources.
The House had last month set up a special panel to investigate the utilisation of grants and intervention funds to MDAs and GEOs from 2015 to date.
According to the House, there have been allegations of “diversion and mismanagement” of grants and bail-out funds allocated to newly established and existing agencies.
It stated that the “financial losses resulting from the mismanagement of these funds represent a substantial drain on public resources that could have been used for essential services and national development in line with Section 14(2)(b) of the Constitution.”
However, Abbas, while stating that the probe is not a witch hunt, said the parliament is determined to ensure that there is transparency and accountability in the management of government resources.