Reps fault movement of N28bn North East intervention fund

by | September 28, 2017 10:00 pm

The House of Representatives on Thursday urged President Muhamadu Buhari to immediately halt the movement of N28 billion fund accrued into the coffer of Presidential Committee on North East Initiative (PCNI), allegedly being transferred into a special account.

The resolution was passed sequel to the adoption of a motion on matter of urgent public importance sponsored by Muhammed Sani (APC-Bauchi).

According to him, the sums of N18 billion accrued into Presidential Committee on North East Initiative (PCNI) and N10 billion accrued from the Consolidated Pool Account are not being moved through proper and approved regulated financial flow systems of the government (Supplementary budget, virement and direct capital releases).

In his lead debate, Sani explained that the said funds were meant to be domicile and utilized by the Presidential Committee as well as the consolidated Pool Account domiciled in the office of Accountant General of the Federation.

According to him, the motion was necessitated by plethora of complaints and rumblings in the main and social media regarding the alleged intended abnormal movement of appropriated North East intervention find meant to be domiciled and utilized by the PCNI and that of the Consolidated Pool Account domiciled with the AGF office.

He further explained that the Bama Initiative as conceived was not meant to be handled by the statutory PCNI but by two non statutory special committee floating between the Ministry of Budget and National Planning g and the Presidency.

“The N28 billion Maura from PCNI account and N10 billion from consolidated Pool Account are not being moved through proper and approved regulated financial flow system of the government.

“The House is worried that if the movement of funds is allowed to go through, it will lead to serious breaches of the constitution of the Federal Republic of Nigeria, the appropriation Act and the Financial Regulation and extant riles of the services of the Federal Republic of Nigeria,” he said.

Following the adoption of the motion through voice vote, Speaker Yakubu Dogara resolved to set-up an Ad-hoc Committee to probe the allegation and report back within two weeks.