The House of Representatives has summoned Finance Minister Taiwo Oyedele and Accountant-General of the Federation Shamseldeen Babatunde Ogunjimi over ₦75 billion reportedly borrowed from the Universal Basic Education Commission (UBEC). The officials are expected before the House Public Accounts Committee on October 22 to explain how the money will be refunded and provide a definite […]
The House of Representatives has summoned Finance Minister Taiwo Oyedele and Accountant-General of the Federation Shamseldeen Babatunde Ogunjimi over ₦75 billion reportedly borrowed from the Universal Basic Education Commission (UBEC).
The officials are expected before the House Public Accounts Committee on October 22 to explain how the money will be refunded and provide a definite repayment schedule.
The summons followed a hearing in Abuja on Friday, where lawmakers questioned the withdrawal of funds belonging to government agencies for other obligations without clear repayment plans.
Deputy Chairman of the committee, Jeremiah Umaru, said public funds allocated to one agency should not be diverted to another purpose without proper terms and conditions.
He insisted that the committee needed more than explanations, demanding a clear commitment on when the outstanding ₦75 billion would be returned.
“For each borrowing, there should be terms and conditions attached. We want to know what your plan is,” Umaru said.
He explained that even government-to-government borrowing without interest should have a defined repayment period. The committee wants the two officials to appear in person so lawmakers can establish the circumstances surrounding the borrowing and agree on when repayment will occur.
Umaru said the committee’s immediate priority was to secure a definite timeline for returning the money and bring the matter to a close.
“We want to agree on when this money will be paid so that we can close this matter once and for all,” he stated.