Reps urge FG to stop alleged diversion of N/East devt fund
Abuja – The House of Representatives on Thursday urged the Federal Government to stop the alleged diversion of North East development fund to the implementation of Bama Initiative (BI).
This was sequel to a motion under matters of national public importance by Rep. Muhammad Abdu (Bauchi-APC).
The house also urged that the BI fund should be remitted to the Presidential Committee on North East Initiative (PCNI) for proper mandatory execution.
Moving the motion, Abdu expressed concern over alleged intended abnormal movement of appropriated North East intervention fund meant to be domiciled and utilised by PCNI and that of Consolidated Pool Account domiciled in the office of Accountant General of the Federation.
He explained that the above funds, to be moved to a Special Account, was meant to fund a pilot project called the Bama Initiative.
“The Bama Initiative as conceived is not meant to be handled by the statutory PCNI but by two non-statutory, special committees floating between the Ministry of Budget and National Planning, and the Presidency.
“The N28 billion, N18.0 billion from PCNI Account and N10.0 billion from consolidated Pool Account are not being moved through proper and approved regulated financial flow systems of the government (supplementary budget, virement and direct capital release).
“The House is worried that if the movement of funds is allowed to go through, it will lead to serious breaches of the constitution of the Federal Republic of Nigeria, the Appropriation Act and the Financial Regulation and Extant Rules of the Services of the Federal Republic of Nigeria,” he pointed out
The motion was unanimously adopted by members when it was put to a voice vote by the Speaker, Mr Yakubu Dogara.
The house therefore urged President Muhammadu Buhari to graciously direct the immediate stoppage of the movements of the funds and restore law and order in the system.
It also urged the President to graciously assent to the North East Development Commission (NEDC) Bill before him and expedite immediate take-off of the Agency for comprehensive institutional management of the North East re-development.
The house latter constituted a nine-man ad-hoc committee to be chaired by Rep. Edward Pwajok to investigate the alleged diversion of the funds.
The committee was given two weeks to submit its findings. (NAN)
The post Reps urge FG to stop alleged diversion of N/East devt fund appeared first on Vanguard News.
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