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By Levinus Nwabughiogu, Abuja

House of Representatives ad-hoc committee on Recovery of monies, Assets and Dividends of the Federal Government in some privatised public enterprises has vowed to discharge its duties diligently and produce results.

Chairman of the committee, Hon. Ibrahim Makama Misau at the inauguration of the members yesterday in Abuja made the vow.

Misau who is also the Chairman of the House Committee on Privatisation and Commercialisation however said that the committee was not out for any form of witch-hunting, assuring that it would work with utmost caution.

He called for the support of all stakeholders including the media and erstwhile staff of the privatised public enterprises and the labour unions to achieve the desired objectives.

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He said: “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.

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“We shall x-ray the transactions processes 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.

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

It will be recalled that the House through a motion sponsored by Hon. Mukhtar Ahmed had on February 10, 2021, okayed the need to carry out the investigation hence the inauguration of the committee.

Mukthar had in the motion said that some of the assets, cash and residual shares in privatised public enterprises were 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).

Vanguard News Nigeria


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