Be Prudent With Public Funds – Speaker Abbas To MDAs

The House of Representatives Speaker, Tajudeen Abbas, has urged Ministries, Departments and Agencies (MDAs) to be prudent in managing public funds.

Naijaonpoint reports that Speaker Abbas stated this on Thursday, while inaugurating the special committee to investigate the utilization of public funds given to MDAs, institutions and government-owned enterprises as take-off grants, bailouts and other special interventions to enable them to address immediate funding constraints since 2015.

He said persons entrusted with public funds were expected to appreciate the burden of the sacred trust and must not even be perceived to have compromised themselves in the application of the 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 ownec 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,” he said.

Abbas stressed that poor management of public funds affects Nigeria’s image, economy and national security.

According to him, it is when public officers “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.”

Chairman of the Committee, Chinedu Martins, said the purpose of the investigative hearing was to ensure that Nigerians get value for their money.

He said: “It is imperative that we thoroughly investigate how these funds have been utilised, ensuring that every naira spent is accounted for and that it has truly benefited our citizens. Therefore, I would like to urge heads of agencies and organisations present today to provide truthful and accurate information to this committee in order to enable us to carry out our work.

“The hearing is not a witch-hunting exercise; rather, it is an opportunity for all stakeholders to come together in the spirit of cooperation. I assure all participants that we are committed to a fair hearing and respectful dialogue through this process.”