The House of Representatives has summoned the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Accountant-General of the Federation, Shamseldeen Ogunjimi, over an outstanding N75bn borrowed from the Universal Basic Education Commission (UBEC).
The House Public Accounts Committee (PAC) directed the two officials to appear before it on Thursday, October 22, to provide a definite repayment schedule and commit to a date for returning the funds.
The summons followed concerns over the withdrawal of money belonging to government agencies without clear repayment arrangements, prior notification, or established guidelines.
At a hearing in Abuja, the committee, presided over by its Deputy Chairman, Jeremiah Umaru, questioned the practice of using funds belonging to one government institution to meet the financial obligations of another without agreed terms.
The lawmakers insisted that every borrowing arrangement must specify the conditions and timeline for repayment, even when the transaction involves two government institutions.
