The sponsor said while these federal government agencies auction public property at very low prices and without due process, revenue realised from the disposal into the consolidated revenue Fund is a breach of the Constitution.
The House of Representatives on Thursday resolved to carry out a comprehensive probe into the alleged illegal disposal and auctioning of the multi-billion naira assets belonging to the Federal Government and some of its agencies from 2010- 2022.
The resolution followed the adoption of a motion moved at the plenary by Rep. Busayo Oluwole Oke (PDP, Osun).
The affected agencies include, the Nigeria Ports Authority, Nigeria Maritime Administration and Safety Agency, Nigeria Railway Corporation, River Basin Development Authority, and Nigeria Customs Service.
Oke, who was the 9th Assembly Chairman Public Accounts Committee PAC, “Notes that the procedures for the disposal and auctioning of government assets in Nigeria are well spelled out in Financial Regulations, 2009 and Public Procurement Act 2007 among others.
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“Aware that the Constitution of the Federal Republic of Nigeria, 1999 (as amended) makes adequate provisions that all revenues realized from the disposal/auctioning of public property must be remitted into the Consolidated Revenue Fund.
“Also aware that proper valuation must be carried out on the assets designated for auctioning by the Federal Ministry of Works, indicating the original cost price of the asset, date of acquisition, and realizable value, among others.
Disturbed that the Nigeria Ports Authority, Nigeria Maritime Administration and Safety Agency, Nigeria Railway Corporation, River Basin Development Authority, and Nigeria Customs Service have been auctioning public property not only at a ridiculous price but also without following due process.
“Also notes that partial remittance or non-remittance of revenue realized from the auctioning of public property into Consolidated Revenue Fund is a breach of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).
The lawmaker feared that if left unchecked, the practice will have damning consequences on the federal government’s quest to achieve rapid infrastructural development in the country.
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