The House of Representatives has resolved to probe into the alleged illegal disposal and auctioning of the multi-billion naira assets belonging to the federal government from 2010- 2022.
This was sequel to the adoption of a motion on the Need to Investigate Illegal Auctioning of Property of the Federal Republic of Nigeria moved by Hon. Busayo Oluwole Oke: (PDP-Osun).
Moving the motion, Oke noted that the procedures for the disposal and auctioning of government assets in Nigeria are well spelt out in Financial Regulations 2009 and Public Procurement Act 2007 among others.
He said 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 assets, date of acquisition and realisable value, among others.
Oke said, “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.”
“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 the Consolidated Revenue Fund is a breach of the Constitution of the Federal Republic of Nigeria,1999 (as amended),” he stated.
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