The House of Representatives has resolved to probe the Federal Inland Revenue Service ( FIRS), Corporate Affairs Commission ( CAC) and Nigeria Deposit Insurance Corporation (NDIC) over alleged extra-budgetary expenditure and lopsided employment.
The House also resolved to set up an Ad-hoc Committee to undertake the investigation. The panel is expected to ascertain if the agencies complied with the Federal Character principles in its recruitment and report back to the House within four weeks for further legislative actions.
This followed the adoption of a motion by the minority whip, Ali Isa, calling for an investigation into allegations of extra budgetary expenditure and lopsided recruitments into the FIRS, CAC and NDIC.
Isa, in his lead debate, said although the three agencies are responsible for critical aspects of the country’s economy, especially in the areas of tax administration, corporate regulation, and safeguarding of depositors’ funds, there are allegations that employment into the agencies are marred by favouritism.
The lawmaker added that “the allegations extended to extra-budgetary expenditures by the Agencies with funds meant for statutory operations being used for non-statutory items in gross violation of the Fiscal Responsibility Act,
2007.”
He stated that if the allegations of lopsided employments and extra-budgetary expenditures are true, it will erode public trust in critical institutions, as well as reduce operational efficiency.
“The alleged malpractices could undermine the capacity of the FIRS, CAC, and NDIC to effectively carry out their mandates, resulting in inefficiencies that may affect tax collection, corporate regulation, and the stability of Nigeria’s financial system,” Isa stated.
