The House of Representatives’ Committee on Public Assets has declared its commitment to recovering assets acquired through fraudulent means in a bid to safeguard national resources, News About Nigeria reports.
The committee’s Chairman, Ademorin Kuye, made this statement during a one-day retreat in Abuja, themed “Guardian of Public Trust: Transforming Public Assets Oversight and Legislation.”
Kuye, speaking on the sidelines of the retreat, affirmed their readiness to pursue the recovery of all Federal Government assets misappropriated by people in both private and public sectors.
He added that the committee has the support of the President and the National Assembly leadership to carry out their work without any bias.
Kuye mentioned that the committee is focused on ensuring transparency and accountability in managing and disposing of public assets, including both tangible and intangible assets resulting from government investments in concessions and privatizations.
On the valuation of national assets, Kuye disputed the data provided by the Ministry of Finance, Budget, and National Planning (MOFI), stating that the current valuation of $18 billion claimed by MOFI is inaccurate.
He estimated the value to be over $100 billion and advocated for proper asset valuation, documentation, and harmonisation of laws with legislative backing for MOFI.
In his opening remarks, Kuye highlighted the committee’s objective to initiate a process that not only documents national assets comprehensively but also prevents financial losses in the future.
He stressed the need for a national register of publicly-owned assets, describing it as a tool to bring clarity and transparency to government operations.
CEO and Managing Director of MOFI, Armstrong Takang, appealed to the committee to assist the agency in carrying out its role smoothly.
Takang urged lawmakers to provide legislation addressing political intervention, corruption, and corporate governance to aid the agency in performing its functions effectively.
