The House of Representatives on Tuesday called on the Minister of Finance, Wale Edun, and the Central Bank of Nigeria (CBN) Governor, Oleyemi Cardoso, to submit a detailed report of all financial assistance provided to states and local governments outside the statutory monthly allocations from 2023 to date.
The resolution followed the adoption of a motion by Sokoto lawmaker Abdussamad Dasuki, who highlighted concerns over the lack of transparency and public access to information on financial interventions by the Federal Government.
Over the years, the Federal Government has implemented various financial support initiatives to mitigate economic challenges and boost infrastructure development at subnational levels. These include budget support loans, infrastructure development funds, ecological and emergency relief grants, and other discretionary aid.
While these interventions have helped address issues such as salary payments at state and local levels, there is no central record showing total sums disbursed, beneficiaries, or release timelines. Dasuki emphasized that this opacity raises trust issues and complicates oversight.
He said, “The lack of an open and verifiable record of these financial interventions raises valid concerns about fiscal transparency and accountability. It is our constitutional responsibility as lawmakers to ensure public funds are properly tracked and used in the best interest of Nigerians.”
Following the motion, the House directed Edun and Cardoso to present a comprehensive report within two weeks, detailing amounts disbursed, purposes, release dates, beneficiaries, and any attached conditions.
The House also tasked its Committees on Finance, Inter-Governmental Affairs, and Public Accounts to scrutinize the report, consult relevant agencies, and ensure compliance with accountability, transparency, and value-for-money principles. The committees are expected to submit their findings within four weeks for further legislative action.
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