Reps move to probe AMCON, non-oil remittances

IN a bid to ensure a healthy economy, the House of Representatives yesterday ordered investigation of the huge debt profile of the Assets Management Corporation of Nigeria (

PHOTO: saharareporters.com

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At the plenary session, the lawmakers resolved to investigate alleged misuse, under-remittance/non-remittance and fraudulent practices in the collection, accounting, remittance and expenditure of internally-generated revenues by the Ministries, Departments and Agencies (MDAs).

Both resolutions followed the adoption of two separate motions initiated by Gabriel Onyenweife (APGA: Ayamelum/Oyi: Anambra) and Namdas Abdulrazak (APC: Mayo Belwa/Ganye/Jada/Toungo: Adamawa).
On the AMCON issue, the lawmakers resolved to set up an ad-hoc committee to investigate its huge debt profile and to examine whether the acquisition and sale of assets, banks, shares and landed property by AMCON was consistent with due process and extant laws devoid of fraudulent activities.
The yet-to-be constituted committee is to also determine the losses, if any, suffered by Nigeria as a result and report to the House within six weeks.

Besides, the House yesterday resolved to invite the authorities of the Consumer Protection Council (CPC) over the agency’s inability to ensure effective implementation of government’s ban on imported frozen poultry products.

This is just as it urged the Nigeria Customs Service (NCS) to be more vigilant in monitoring the nation’s borders to ensure such banned products do not find their ways into Nigeria, as well as a call on relevant government agencies to draw up policies to protect local poultry farmers from the activities of fraudulent middlemen, which in turn encourage smuggling of banned products.

It also urged relevant agencies such as the National Orientation Agency (NOA), the National Agency for Food and Drugs Administration and Control (NAFDAC) and the Ministry of Information to champion campaigns aimed at exposing the dangers of consuming these imported poultry products.
Also enraged by alleged irregularities, the House has ordered an investigation into implementation of the land swap policy initiated by former Minister of the Federal Capital Territory (FCT), Bala Mohammed, with a view to ascertaining alleged infringements in the policy.

The land swap policy, a land-based financing of infrastructure development, involves granting of land to competent real estate developers who will in turn provide infrastructure such as good roads, electricity, portable water, storm water drainage, sewer lines and communication dots to the residents without any financial or technical demand to the government.

At its plenary session, presided by the Speaker, Yakubu Dogara yesterday, the House mandated the Committee on the FCT, expected to be in place soon, to carry out the investigation, as well unravel the causes of frequent contract variations and abandonment of capital projects by the administration, and report back its findings with appropriate recommendations to checkmate further breaches, if any.

In another development, the House yesterday frowned at the incessant gridlock on the Karu-Nyanyan-Mararaba road linking the FCT.
Adopting a motion sponsored by Mr. Gbefwi Gaza Jonathan (PDP: Karu/Keffi/Kokona: Nasarawa), the lawmakers urged the Federal Government to, as a matter of priority, commence expansion work on all auxilliary routes into the FCT.

They pointed at the Abuja-Mararaba-Keffi Expressway, Apo-Karshi-Ara Road leading to the Second Benue Bridge that links South-East part of the country and Mpape-Gurku-Gitata/Bade road as roads requiring attention of government to redress the problem.

Onyenweife, while leading debate on the issue, said AMCON has accumulated a debt profile of over N5 trillion, adding that the geometric accumulation of debts by AMCON could endanger the dwindling national reserves put at $30 billion.
Alleging that the accumulated debts of AMCON in five years could be more than the debt owed by the government to the Paris Club of creditors in 50 years, he said he was aware that over N2 trillion was lost in the not too transparent process adopted in the sale of some banks, including Oceanic Bank, Intercontinental Bank, Enterprise Bank and Mainstreet Bank.