Reps Commence Action to Ensure Enumeration, Valuation of Public Assets by MOFI

BY OUR CORRESPONDENT

The Chairman, House Committee on Public Assets, Hon. Ademorin Kuye said his committee has commenced investigation and necessary actions towards recovery of public assets as well as asset register in compliance with the recent House’s resolution.

In an interview with journalists Kuye said the committee decided to take necessary actions immediately because of the need to recover trillion of Naira from stolen and moribund public assets within and outside Nigeria.

Hon. Ademorin Aliyu Kuye, Chairman, House Committee on Public Assets

Recall that the House of Representatives on Tuesday in a resolution urged the Ministry of Finance Incorporated (MOFI) and the Nigerian Institute of Estate Surveyors and Valuers (NIESV) to embark on comprehensive enumeration and valuation of all public assets
and publish a detailed inventory of the assets in a register that would be available to the public.

The House also mandated its committee on Public Assets to ensure compliance, and investigate the management of assets by Ministries, Departments and Agencies of the Federal Government to
ensure accountability and eliminate uncertainties regarding assets owned by the Federal Government, and curbing economic loss to the country.

However, Kuye in the interview told journalists that his committee has written to the management of MOFI and other relevant organizations in line with the House’s resolution.

According to Kuye, the Committee on Public Assets is ready to start work immediately in January 2024 to check against indiscriminate sales and misappropriation of government assets.

Kuye said the Committee on Public Assets is founded on three pillars that define their mandate.

These according to him, include
“Stringent Oversight of Public Asset Management and Disposal in all the MDAs.

“Guardianship of National Assets – the vast array of government assets both domestically and internationally, tangible and intangible, within Nigeria and abroad and ensuring their optimal utilization for Nigeria’s benefit.

“Governance of Forfeited Assets -the assets forfeited to the Federal Government.”

He said their objective is to transform these assets into engines of economic growth through “Asset Monetization,
Investment Maximization, Innovative Revenue Generation and Strengthening Asset Management Practices.”

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