House To Investigate Mgt Of Public Assets By MDAs

By Oduyemi Odumade

The House of Representatives has mandated its Committee on Public Assets to conduct an investigation into how various Ministries, Departments, and Agencies (MDAs) of the Federal Government manage public assets.

This initiative seeks to enhance accountability, address uncertainties about government-owned assets, and prevent economic losses.

The decision followed a motion presented by a member from Edo State, Esosa Iyawe
during plenary in Abuja.

Iyawe emphasized the importance of the Federal Government maintaining accurate records of its assets for economic sustainability.

He expressed concerns about uncertainties surrounding government’s actual assets and highlighted economic losses due to inadequate documentation.

Recognizing the urgency of the matter, the House urged the Ministry of Finance Incorporated, MOFI, and the Nigerian Institute of Estate Surveyors and Valuers to conduct a comprehensive enumeration and valuation of all public assets.

Additionally, the Ministry of Finance incorporated, MOFI, was tasked with publishing a detailed inventory of these assets in a register accessible to the public.

To ensure compliance, the House mandated the Committee on Public Assets to oversee and enforce the investigative process.

The objective is to foster accountability, eliminate uncertainties related to government-owned assets, and mitigate economic losses for the country.

Edited By Grace Namiji