Speaker of the House of Representatives, Hon Aminu Waziri Tambuwal, yesterday called for probe of the mystery behind the disappearance of over N300 billion power and airline intervention fund which had dropped to N100 billion.
Tambuwal, who stated this during opening ceremony of the public hearing organised by the ad hoc committee on the disbursement of public funds by bank of industry limited under the power and airline intervention fund, stressed that the legislature would ensure that the funds were not subjected waste or corruption.
He said: “By some accounts, the volume of this fund which originally amounted to about N300 billion has now dwindled to less than N100 billion. Officials claim that the sum of over N200 billion have been disbursed through deposit money banks to certain individuals and corporate organisations without following due process.
“You will agree with me that we have a very serious issue here which falls within the precincts of the constitutional mandate given to the National Assembly that all revenues belonging to the federation, must be paid into the consolidated revenue fund, withdrawals therein shall only be carried out solely upon the authority of an Act of the National Assembly.”
He said it was the mandate of the legislature to ensure that where funds are so authorised to be withdrawn that they are not subjected to waste, corruption, or inefficiency, “Section 88 of the constitution of the Federal Republic of Nigeria, 1999, makes it mandatory for the National Assembly to protect the interest of the citizens and the general tax payer, with respect to the use of public funds.”
