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65% FG’s allocated funds unaccounted for —Bankole

By Ehis Osajie

Speaker of the House of Representatives, Mr Dimeji Bankole, has alleged that about 65 per cent of the funds allocated by the Federal Government in its yearly budget cannot be accounted for or traced.

Bankole who made the  allegation in Las Vegas, United States at a Town Hall meeting organised by the Nigerian Re-union Cooperation, called on Nigerian youths in the Diaspora to join hands with the government and people back home for the nation’s development

According to the Speaker, the House of Representatives has “been asking questions about these funds and requesting that unspent funds and funds that cannot be accounted for be returned to the Federal Government.”

He  illustrated the mismanagement of public funds by stating that recently, “the government presented a budget of over N100 billion for the construction of federal roads across Nigeria, but on further scrutiny by the House, it was discovered that about 30 per cent of the budget was allocated to projects that had already been paid for and executed.”

The Speaker who was accompanied by by the Chairman, House Committee on Diaspora Affairs,  Abike Dabiri and a member of the Committee, Emma Ucheze, said “the figures in the proposed budget to which he was referring were generated by the Nigerian civil service, particularly the Federal Ministry of Works, Housing and Urban Development.”

According to him, the current National Assembly is interested in asking for accountability in how funds allocated are spent, stating  that every fiscal year, ministries across the nation return less than five per cent of their allotted budgets to the
Federal Government.


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