The Federal Government is expected to probe how 28 federal ministries, their departments and agencies under the administration of President Goodluck Jonathan incurred an alarming N4 trillion contractual debt.
Vanguard reports that a special task force will be raised to look into it and determine the veracity of the debts and contracts before they could be classified as Federal Government liability and settled by the new administration.
The N4 trillion debt was passed on by the previous government to the present administration as part of the hand-over note given to the Transition Committee raised by President Muhammadu Buhari.
The Transition Committee headed by Alhaji Ahmed Joda, made a recommendation to President Buhari to raise a ministerial task force to probe how the huge debts were incurred.
The committee in its report sai: “The handover note from the previous administration showed an aggregate contractor liability of N4 trillion as at April 2015.
“It is imperative that the administration establishes an inter-ministerial task force to review all outstanding contracts and associated liabilities across all ministries, departments and agencies. The mandate of the task force is to confirm the existence of the liabilities and authenticate the accuracy of the information provided in the handover notes. The government should only recognise the liabilities verified and confirmed by the task force.”
“A detailed list of contractors was not provided and therefore, some balances may be double counted, thereby, making contracts funded through debt to be captured by the Ministry of Finance and the contracting ministry. No documentation was provided to confirm if the projects were executed to agreed specifications while some contracts may have been cancelled or terminated.”
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