Reps Committee To Recover Billions From FG Privatised Companies Begin Work

An ad hoc committee set up by the House of Representatives to investigate and recover Monies, Assets and Dividends of the Federal Government in some privatised Public Enterprises began work yesterday after it’s inaugural meeting

The Chairman of the ad hoc committee, Hon. Ibrahim Makama Misau, who is also the Chairman of the House Committee on Privatisation and Commercialisation promised members of the committee that the panel will ensure that it delivers on the assignment.

” I want to assure the Speaker and members of the public that we shall work with the House Standing Rules, uphold the Constitution of the federal Republic of Nigeria in doing our job.

“As Chairman of the Committee on Privatisation and Commercialisation, I know as a matter of fact, that the legal framework for privatisation and commercialisation of public enterprises is the 1999 Public Enterprises Act.

” The Act established the NCP, which is chaired by the Vice President that makes all Privatisation and Commercialisation decisions, while the BPE, the Secretariat, is responsible for implementing NCP decisions.”

Misau, while seeking the support of all stakeholders, media, ex-staff of privatised public enterprises, labour unions etc, said: ” we shall x-ray the transactions processed to find any missing monies, assets, dividends of Federal Government that are not accounted for or missing and recover all on behalf of Nigerians and the federal government .”

He also called on stakeholders involved in the assignment to come toward and work with the committee in mutual and friendly manner.

“I am made to understand that must of these wrong doings were committed either in human errors, or deliberate attempt. Therefore,, the committee is going to work with caution, respect and do everything himamly possible during the exercise.”

Recall that the House through a motion sponsored by Hon. Mukhtar Ahmed had on 10th, February, 2021 considered a motion on the need to to investigate and recover monies, Assets and dividends of federal Government in some Privatised Federal Government Enterprises.

Mukthar said that some of the assets, cash and residual shares in privatised public enterprises are still unaccounted for , while some of the privatised companies like NICON Insurance, Nigerian Reinsurance and NICON Luxury Hotel have already been taken over by the Assets Management Corporation of Nigeria (AMCON) over acquisition loans.”