The House of Representatives has urged the Minister of Finance and Governor of the Central Bank of Nigeria (CBN) to provide to the House, within two weeks, a detailed report of all Federal Government financial interventions, outside Federation Account Allocation Committee (FAAC) extended to States and Local Governments from 2023 to date.
The House said the report must include the nature of each intervention, amount disbursed, disbursement dates, recipient entities, and conditions (if any) attached.
It mandated the Committees on Finance, Inter–Governmental Affairs, and Public Accounts to scrutinise the report upon submission and engage relevant stakeholders to ensure transparency, accountability, and value for money, and report within four weeks for further legislative action.
These resolutions followed the adoption of a motion titled, “Call to provide details of Federal Government Interventions to States and Local Governments Outside Monthly FAAC Allocations (2023 to Date) sponsored by Hon. Abdussamad Dasuki.
The House noted that the Federal Government, in addition to the statutory monthly allocations disbursed through the Federation Account Allocation Committee (FAAC), has continued to provide various forms of financial interventions to States and Local Governments to address fiscal challenges and support development initiatives.
The House said it was aware that such interventions include, but are not limited to, budget support facilities, infrastructure funds, ecological and emergency relief grants, and other discretionary or conditional support mechanisms.
It expressed concerns that while these interventions are vital to addressing specific financial and developmental needs at subnational levels, the absence of a consolidated public record of these disbursements may undermine transparency, hinder effective oversight, and limit public accountability.
The House worried that without detailed information on the nature, amounts, beneficiaries, and intended purposes of these interventions, it becomes difficult for the legislature to evaluate their effectiveness, monitor utilization, and ensure alignment with national development objectives.
The House said it was cognizant of the constitutional responsibility of the National Assembly to conduct oversight over public finance and to promote fiscal transparency and accountability across all levels of government.
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