By Kassim Omomia
The House of Representatives has resolved to constitute an Ad-hoc Committee to investigate and determine the state of federal government’s assets in some privatised companies, years after they were sold.
The special panel which is yet to be constituted will determine those assets and report back in plenary within 8 weeks.
The resolution of the House followed a motion titled “Urgent Need to Investigate and Recover Monies, Assets and Dividends of Federal Government in some Privatized Public Enterprises, sponsored by Honorable Mukhtar Ahmed.
The House noted that it has become necessary to probe into some firms which government still has shares to improve revenue for financing yearly budgets.
During debate of the general principles of the motion, the lawmakers revealed that Government still shares in some the some of the Enterprises and are therefore entitled to dividends.
They listed some of the assets, cash, and residual shares of the Federal Government in Privatized public companies like NlCON insurance, Nigerian Re—Insurance and Nicon Luxury Hotels, which unfortunately are already taken over by AMCON over acquisition loans.,
According to the lawmakers, they were concerned that Federal Government may not be able to recover those monies, dividends, and assets except, if they are not properly determined, and such requested a probe to unravel the state of FG’s assets in some privatized firms.
However, in his lead debate, sponsor of the motion, Honorable Ahmed, explained that the Federal Government of Nigeria embarked on Privatization and Commercialization of Public Enterprises to introduce private sector resources and discipline, create jobs, reduce the burden of funding of the Public Enterprise on the national treasury.
He pointed out that there were still some firms that the federal Government shares were hanging and needed to be determined, so that government can also generate revenue to finance her yearly budget.
