Reps move to recover FG’S monies, others in privatised enterprises

To improve ease of doing business

HOUSE of Representatives, yesterday, constituted an ad- hoc committee to investigate, determine monies, assets and dividends of Federal Government in some privatised public enterprises and report back within eight weeks.

The development followed adoption of a motion raised by Mukhtar Ahmed under matters of urgent national importance, seeking urgent move to recover such monies, assets and dividends.

Ahmed noted that Federal Government embarked on privatisation and commercialisation of public enterprises to introduce private sector resources and discipline, create jobs and reduce burden of funding of public enterprise on national treasury.

The lawmaker said: “After privatisation of some federal public enterprises, government still has shares in some of them and is, therefore, entitled to dividends.

“Some of the assets, cash and residual shares in privatised public companies like NLCON Insurance, Nigerian Re— Insurance and Nicon Luxury Hotels, are already taken over by AMCON over acquisition loans.

“Federal Government may not be able to recover those monies, dividends and assets except they are properly determined.”

Ahmed said the recovery was necessary as government needs money to finance the budget.

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LSO, yesterday, the House reiterated its resolve to improve ease of doing business in the country.

The Speaker, Mr. Femi Gbajabiamila, in a resumption address for the 2021 legislative session, assured the lawmakers that the lower legislative chamber would deliberate on bills and motions aimed at unlocking economic potential of the country.

This, he said, would be achieved by ending predatory regulatory practices that deprive young people opportunity to conquer new frontiers.

“In this age of technology and innovation, of daring and enterprise, we cannot risk implementing policies that handicap our ability as a nation to participate in new markets and profit from emerging industries,” he said.

Gbajabiamila promised the House would leave no stone unturned in ensuring that Nigerians live in a just society free from abuse of power and protected by justice system built on fairness and the rule of law.

He said the House would begin consideration of bills to amend the Administration of Criminal Justice Act as well as review Trafficking In Persons ( Prohibition) Enforcement And Administration Act and other legislations that seek to deliver justice system that works for all.

According to the Speaker, it behoves those entrusted with governance of the country to set aside their tribal and religious differences to nip in the bud the challenges of insurgency, banditry and communal violence in the country.