The House of Representatives on Thursday resolved to carry out a comprehensive probe into the alleged illegal disposal and auctioning of the Multi-billion Naira assets belonging to the federal Government of Nigeria some of its urgencies from 2010- 2022
This followed the adoption of a motion moved at the Plenary under matter of Public urgent importance titled ” Need to Investigate Illegal Auctioning of Property of Federal Republic of Nigeria” by Hon.Busayo Oluwole Oke: (PDP-OSUN)
The affected agencies include the
Nigeria Ports Authority, Nigeria Maritime Administration and Safety Agency, Nigeria Railway Corporation, River Basin Development Authority and Nigeria Customs Service.
According to the lawmaker who was the 9th Assembly Chairman Public Accounts Committee PAC “Notes that the procedures for the disposal and auctioning of government assets in Nigeria are well spelt out in Financial Regulations,2009 and Public Procurement Act 2007 among others;
” Aware that the Constitution of the Federal Republic of Nigeria, 1999 (as amended)makes adequate
provisions that all revenues realized from the disposal/auctioning of public property must be remitted
into the Consolidated Revenue Fund;
” Also aware that proper valuation must be carried out on the assets designated for auctioning by the Federal Ministry of Works, indicating the original cost price of the asset, date of acquisition and
realizable value,among others;
” Disturbed that the Nigeria Ports Authority, Nigeria Maritime Administration and Safety Agency,
Nigeria Railway Corporation, River Basin Development Authority and Nigeria Customs Service have been auctioning public property not only at a ridiculous price but also without following due
” Also notes that partial remittance or non-remittance of revenue realized from the auctioning of public
property into Consolidated Revenue Fund is a breach of the Constitution of the Federal Republic of
Nigeria,1999 (as amended);
” Concerned that if this practice continued, coupled with dwindling crude oil revenue in Nigeria, the government at the centre may not be able to provide or cope with the rising demands for accelerated infrastructural developments required in Nigeria in this 21 century;”
He urged the House to set up an Ad-hoc Committee to investigate he disposal of public property by the Agencies between
2010 and 2022 to unravel the extent of illegal auctioning of public property, no remittance of revenue realized into Consolidated Revenue Fund and report back to the House within four weeks
for further legislative action.
When the motion was put in to voice vote by the Speaker, Hon Tajudeen Abbas who presided over the plenary, it was unanimously supported.