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Reps threatens NSIA with zero vote for 2022

By Msugh Ityokura, Abuja
03 November 2021   |   4:06 am
The House of Representatives Committee on Finance has threatened the Nigeria Sovereign Investment Authority (NSIA) with zero vote for repeatedly failing to submit its 2022 budget to the National Assembly for scrutiny and approval.

The House of Representatives Committee on Finance has threatened the Nigeria Sovereign Investment Authority (NSIA) with zero vote for repeatedly failing to submit its 2022 budget to the National Assembly for scrutiny and approval.

The Chairman, James Faleke, said the panel had directed the Minister of Finance, Zainab Ahmed, to withhold releases to the agency for breaching due process.

He accused the organisation of drawing funds from its board via the establishing Act and spending same without recourse to the federal legislature.

“The committee will not hesitate to direct the office of the Accountant General of the Federation (AGF) not to make any disbursement to the NSIA in 2022, if it continues to turn down its invitations, as no law is superior to the Nigerian Constitution.

“We will not approve fund for that agency in 2022 budget,” Faleke stated.

The AGF, Ahmed Idris, who presented a budgetary proposal of N10.470 billion for 2022 to the committee, explained that N9.088 billion is for personnel cost –including a new component of foreign service attaché – while N752.831 million goes for overheads, as capital projects get N629.600 million.