The house of representatives has set up a committee to investigate the alleged illegal auctioning of the nation’s properties by some agencies of the federal government.

The agencies include the Nigeria Ports Authority (NPA); Nigeria Maritime Administration and Safety Agency (NIMASA); Nigeria Railway Corporation (NRC); River Basin Development Authority (RBDAS) and Nigeria Customs Service (NCS).

The lower legislative chamber passed the resolution on Thursday, after the adoption of a motion sponsored by Oluwole Oke, a lawmaker from Osun state.

While moving his motion, Oke said the procedures for the auctioning of government assets are spelt out in the Financial Regulations Act 2009 and Public Procurement Act 2007.

He said the 1999 constitution requires that all revenues realized from the auctioning of public properties be remitted into the consolidated revenue fund (CRF).

The lawmaker said proper valuation ought to be carried out on the assets designated for auction by the federal ministry of works, indicating the original cost price of the property, date of acquisition and realizable value.

Oke told the house that NPA, NIMASA, NRC, RBDAS and NCS have been auctioning public properties “at ridiculous prices” and without following due process.

He further said partial remittance or non-remittance of revenue realised from the auctioning of public property into a consolidated revenue fund is a breach of the provision of the constitution.

The legislator said if the practice is not checked, it may affect the federal government’s quest to meet the rising demands for accelerated infrastructural development in the country.

The motion was adopted when it was put to a voice vote by Tajudeen Abbas, speaker of the house, who presided over planetary.

The lawmakers resolved to set up an ad hoc committee to investigate the auctioning of public properties by the agencies between 2010 and 2022.

The committee is expected to “unravel the extent of illegal auctioning and non-remittance of revenue realize into CRF” and report back in four weeks for further legislation.


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