A large-scale probe into the finances and expenditures of the 37 Federal Universities across the country to ascertain their level of compliance with the Public Service Financial Regulation has begun.
Members of the House of Representatives’ Public Accounts Committee, PAC, who are leading the probe Wednesday said this followed the decision to act on pending queries by the office of the Auditor-General of the Federation since 2014, urging the National Assembly to compel the institutions in question to explain the rationale behind their violation of the PSFR.
The committee led by Kingsley Chinda (PDP, Rivers), grouped its members in six different units based on the country’s geo-political zones to undertake the probe.
Chinda, who inaugurated the six sub-committees, told his colleagues that each of the sub-committees had up to four weeks to turn in their reports.
He said: “If at the end of four weeks, and the assignments are not concluded, the sub-committees stand dissolved. We will not for any reason extend the time given the exigencies of the matter.
“We urge all sub-committees to reach out to their various institutions of assignments, with a view to concretising all necessary arrangements before summoning respondents to ensure that time is not wasted without results.”
Chinda, however, thanked heads of universities present for honouring the committee’s invitation but also warned those absent of the consequences awaiting them should they fail to comply.
“We thank you for coming, and also warn those who got our invitations but refused to come that they did so at their own peril.
“You know that we hold you in high esteem because you are all in charge of our higher institutions of learning from where the future of this country is shaped.
“Our major concern is the funds that you’ve received and not the ones that you haven’t received or generated,” he said.
Meanwhile, the Vice President, Prof. Yemi Osinbajo, Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, Dr Alex Otti; the Finance Minister, Kemi Adeosun and Minister of Budget and National Planning, Udoma Udo Udoma, are expected to attend the Legislative Economic Summit organized by the leadership of House of Representatives.
The two-day summit, with the theme ”Legislative Framework for Economic Recovery and Sustainable Development, is scheduled to hold on November 6 and 7 at the International Conference Centre, Abuja with the Senate President, Bukola Saraki; Speaker Yakubu Dogara; Audu Ogbeh, Tunde Fowler and Governor Aminu Waziri Tambuwal of Sokoto State all expected to deliver presentations.
Bode Ayorinde, chairman, Tactical Committee on Economic Recession, speaking on the reason for the summit, expressed optimism that it would afford policy makers, members of the parliament at both federal and state levels, captains of industries, the academia, organised labour, civil society and non-governmental organizations the opportunity to interface and proffer lasting solution to the economic downturn in the country.
