Speaker of the House of Representatives Tajudeen Abbas has said the on-going investigation into the utilisation of take-off grants, bailout funds, and other interventions by federal government institutions was aimed at promoting transparency and accountability in the nation’s public finance system.
Abbas, represented by the Majority Leader of the House, Prof Julius Ihonvbere, at the opening of the investigative hearing, said the House had full confidence in the Special Committee’s ability to uncover the truth and ensure that public resources were used for intended purposes.
“Our overall goal is to promote good governance, optimise public resource utilisation, enhance accountability in government business, and strengthen our democracy,” he said.
The Committee was constituted on March 6, 2025, following a motion of urgent public importance by the Minority Leader, Kingsley Chinda, who expressed concerns over the persistent allegations of mismanagement and diversion of billions of Naira allocated over the years as take-off grants and bailout funds to government-owned institutions.
“It is worrying that these interventions may have failed to achieve their intended impact due to corruption and inefficiency. That failure undermines national development goals,” Chinda said.
The Committee, chaired by Chinedu Martins (PDP, Imo), began its hearing Thursday with appearances from several government institutions, including the Central Bank of Nigeria (CBN), the Office of the Accountant General of the Federation, and the Federal Ministry of Health, among others.