Reps c’ttee summons finance minister, AGF over N75bn debt

The House of Representatives has summoned the Minister of Finance, Taiwo Oyedele, and the Accountant-General of the Federation, Shamseldeen Ogunjimi, following concerns over N75 billion reportedly borrowed from the Universal Basic Education Commission (UBEC). The House Public Accounts Committee directed both officials to appear before it on Thursday, October 22, to provide a repayment schedule and assure the committee of the money's return.

Concern arose from the withdrawal and borrowing of funds from government agencies without clear repayment arrangements, prior notice, or established guidelines. The committee emphasized that public funds should not be taken from one institution to meet another's financial obligations without clear terms. The lawmakers expressed worry that the diversion of funds meant for basic education could impact UBEC's interventions nationwide.

The Accountant-General's office explained that the borrowings were internal arrangements to address funding shortfalls, but the committee was unsatisfied with the explanations provided and insisted that the officials appear in person to commit to a repayment date.