Fifteen member committee has been constituted to investigate the non-refund of un-expended budget funds for constituency and other projects by government’s Ministries, Departments and Agencies.
This followed a unanimous adoption of a motion on the need for refund of unspent budget funds at the House of Representatives.
Presenting the motion, Mr. Abubakar Hassan Fulata, from Jigawa State, expressed concern that while the Capital funds of the MDAs are automatically mopped up at the end of the year, excess funds from constituency projects are most times misapplied on other expenditure items.
“Aware that unspent capital funds are return or rather automatically mopped up by the Central Bank of Nigeria at the end of each financial year.
Excess funds accruing from the under-valued awards of Constituency projects are not return to the treasury.
Those funds are misapplied to other expenditure items, contrary to extant public financial management laws and regulations,” Fulata explained.
The motion sponsored by Speaker Femi Gbajabiamila and five other lawmakers call on MDAs to ensure remittance of all unspent budget funds for constituency projects to the treasury before the end of December.