The Deputy Speaker of the House of Representatives Hon. Benjamin Kalu has stressed the need for Nigeria to plough back dormant resources in the form of recovered public funds to boost the economy and create employment.
He made the assertion while declaring open the inaugural session of the House Ad hoc committee on “Identification and Recovery of Public Funds Seized, Forfeited and Abandoned in Financial Institutions and Government Agencies to Improve the Current Economic Challenges in Nigeria”.
” Our mission is unequivocal: to craft a comprehensive strategy that
identifies, recovers, and channels idle funds into productive endeavors.
These dormant resources possess the potential to reinvigorate our struggling economy, creating avenues for growth, development, and prosperity that resonate with every Nigerian.
“Our economic landscape is multi-dimensional, replete with challenges
ranging from dwindling revenues and infrastructure gaps to unemployment
and inflation. As we embark on our mandate, let us bear in mind that our
decisions will echo across the lives of fellow citizens, especially those most
affected by these adversities. Our unwavering dedication to transparency, accountability, and diligence is non-negotiable as we navigate through intricate financial systems, legal intricacies, and bureaucratic entanglements.” Hon Kalu said.
He said that though the task ahead may appear formidable, it needs the collective expertise of all to bring innovative solutions.
Hon. Kalu further stated that collaboration among financial institutions, government bodies, legal entities, and the private sector was a necessary compass towards realizing the objectives, stressing that the committee has the task of optimizing the real-time value of recovered public funds to reinvigorate Nigerian economy.
“Additionally, this Ad-Hoc Committee’s role is not only paramount but transformative in three aspects: first, ensuring accountability and transparency; second, establishing trust between the government and it’s people; and third, optimizing the real-time value of recovered public funds to reinvigorate our economy, thereby preventing “dead capital”, he said.
The Committee is chaired by Hon. Munachim Alozie.
Olusola Akintonde
