The House of Representatives on Tuesday directed both the Minister of Finance and the Governor of the Central Bank of Nigeria to provide the House with a detailed report of all Federal Government financial interventions, outside the Federation Account Allocation Committee (FAAC) allocations, to States and Local Governments from 2023 to date, within two weeks.

This 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 Dasu.

The House resolved that the report must include the nature of each intervention, the amount disbursed, disbursement dates, recipient entities, and any conditions attached.

In addition, the House 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 to report back within four weeks for further legislative action.

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.

It stated 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.

The House expressed concern 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.

It further noted 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 utilisation, and ensure alignment with national development objectives.

The House reaffirmed Its constitutional responsibility to conduct oversight over public finances and to promote fiscal transparency and accountability across all levels of government.

When the motion was put to a voice vote by the Deputy Speaker, Hon. Benjamin Kalu, who presided over the plenary session, it was unanimously supported by the lawmakers. (Nigerian Tribune)