• Tue. Nov 29th, 2022

Reps reject investment committee defense

ByChad J. Johnson

Aug 11, 2022

The House of Representatives Public Accounts Committee on Wednesday rejected the written submission of the Nigerian Investment Promotion Commission in response to questions posed against it by the Office of the Auditor General of the Federation.

The committee said the documents were not signed or authenticated by any authority, which lawmakers said made the submission invalid in the eyes of the law.

Therefore, the committee withdrew all its requests and asked its new executive secretary, Saratu Umàr, to go back, familiarize herself with the process of defending audit requests and return on Wednesday next week.

Finance Director, NIPC James Akwada had stunned lawmakers while defending the submission, admitting he did not understand the process.

Several committee members pointed out various shortcomings in the submission.

Committee Chairman Oluwole Oke said: “Madam Executive Secretary, I have agreed that you have just arrived at the office, but if today one of the debtors of the Commission shows up to pay a debit of N1bn, are you going to take the money as the CEO of the Commission or not?”

Umar answered the question in the affirmative.

Oke continued, “Good! If your answer is yes, this committee will allow you to go back and go through your brief, familiarize yourself with the relevant content and exhibits, and come back and defend it before this committee.

“We apply the principle of fair hearing here; we are not here to ambush or harass individuals or organizations.

The committee also criticized the Commission’s claim that its line Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, gave it permission to spend its more than $1 billion. of internally generated revenue, calling it illegal and unacceptable.