FinanceNews

Reps Threaten To Block NSIA 2022 Allocation

Reps Threaten To Block NSIA 2022 Allocation

The House of Representatives Committee on Finance has asked the Nigerian Sovereign Investment Authority to present their budget or be prepared to get zero allocation in 2022.

According to PUNCH, the house of Representatives has vowed to block allocation to Nigerian Sovereign Investment Authority if it fails to present its 2022 budget proposal before the National Assembly for consideration and passage.

PUNCH reports that the House of Representatives Committee on Finance said it will write to the Accountant-General of the Federation, Ahmed Idris to stop releases to the NSIA until the Authority complies with their directive and present their budget for 2022.

The Chairman of the Committee, James Faleke countered the argument being raised by the NSIA to justify its reasons for not presenting their 2022 budget to the National Assembly.

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According to PUNCH, James Faleke said, “This agency of government has refused consistently to bring their budget before the National Assembly. We have spoken to the MD; we have advised him that it is purely against the Constitution. Jamb Result

“We have spoken to the Minister of Finance that it is purely against the Constitution; and the Minister of Finance was never ever in support of that; that the agency must present their budget. Unfortunately, the agency is relying on its law which says that its board shall approve its budget, and I have told the agency that the law, whether made in error or rightly, is not superior to the Constitution of the Federal Republic of Nigeria.

“We are using this opportunity to inform that agency; if they fail to present their budget, there would be no appropriation for that agency this Year 2022. We would make it clear. I am making it very clear. The Accountant-General is here; we will write you…there would be no disbursement of funds from any of our Federation Accounts to the agency. That is the opinion of the committee.”

He further warned, “We have made it clear on Nigerian Sovereign Investment Authority that if they don’t present their budget, there would be no appropriation for them this Year 2022…very certain, and there are no two ways about it. You cannot be spending our money and you tell us as a parliament…you disobey the Constitution and then we would keep quiet and look at you. That will not work. Information Guide Nigeria

“This is a warning to them. And if they are in agreement with any foreign government, they must know that foreign governments obey laws, and here, they must obey laws”.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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