The House of Representatives Committee on Public Assets has demanded financial documents from the Ministry of Finance Incorporated (MOFI) over unauthorized spending. During a public hearing in Abuja, the committee issued a seven-day ultimatum to MOFI to provide detailed records of its revenue and expenditures.
The committee’s chairman, Rep. Ademorin Kuye, criticized MOFI for reckless spending and failing to improve government revenue. He highlighted the need for transparency and accountability in managing public funds. The committee is particularly interested in understanding how MOFI’s activities contribute to Nigeria’s GDP through these documents.
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Concerns Over MOFI’s Expenditures
Rep. Kuye expressed concern about the lack of proper documentation and oversight of MOFI’s financial activities. The committee believes that unauthorized spending by MOFI could have significant implications for Nigeria’s economy. They emphasized that MOFI must adhere to the financial regulations and provide a comprehensive list of its assets, including public and private equities, real estate, and concessions.
Transparency and Accountability
The call for transparency and accountability is part of a broader effort by the House of Representatives to ensure that public funds are used effectively and efficiently. The committee aims to uncover any irregularities in MOFI’s financial practices through these documents and hold responsible parties accountable. Hopefully, this move will improve public trust in the management of Nigeria’s financial resources.
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Seven-Day Ultimatum
The committee has given MOFI a seven-day deadline to submit all required financial documents. This includes detailed records of revenue and expenditures, as well as a comprehensive list of assets. Failure to comply with this directive may result in further actions by the committee to enforce accountability.
For more information, read the full article on Pulse Nigeria.
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