Rep. Okunlola posited that judgment debts are top-priority obligations that require prompt resolution to ensure financial stability.
The House of Representatives has ordered an investigation into the reported huge judgment debts incurred by Ministries, Departments, and Agencies (MDAs) of the Federal Government, to ensure the proper payment of top priority ones.
The order is contained in a motion on “Need to Resolve the Top Priority Judgment Debt Incurred by the Ministries, Departments and Agencies of Government through the Issuance of Promissory notes Amounted to USD 556,754,584.31 GB398, 526.17 and N 226,281,801,881.64”, sponsored by Rep. Lanre Okunlola (APC, Lagos).
Okunlola said the various MDAs “have incurred substantial judgment debt totaling the sum of USD 556,754/584.81/ GB 98,526.17 and N226,281,801,881.64 which poses a significant financial burden on the nation’s finances.”
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He noted that the judgment debts are top-priority obligations that require prompt resolution to ensure financial stability and the reputation of the Government.
“It is essential to address these judgment debts in a responsible and transparent manner in order to safeguard the financial stability of government.”
Adopting prayers of the motion, the House mandated its joint Committee on Aids, Loans and Debt Management, and Justice to investigate the process of issuing promissory notes by the MDAs, and report back within four weeks.
