Contractors’ funds: Reps summon CBN gov, finance minister

Reps

The House of Representatives on Thursday summoned key officials of the Federal Government to explain the continued non-payment of contractors for completed projects dating back to October 2024, despite provisions in the 2024 Appropriation Act.

Those summoned include the Governor of the Central Bank of Nigeria, Yemi Cardoso; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Atiku Bagudu; the Accountant-General of the Federation, Babatunde Ogunjimi; and the Auditor-General for the Federation, Shaakaa Chira.

The resolution followed the adoption of a motion of urgent national importance moved by Mr. Ezechi Nnamdi, who represents a constituency in Delta State.

In his presentation, Nnamdi decried the financial hardship facing contractors nationwide, noting that despite the approval of funds in the 2024 budget, many Ministries, Departments and Agencies have received less than 50 per cent of their capital releases.

“This failure to honour verified obligations has led to widespread project abandonment, financial distress among contractors, and a negative ripple effect on the economy,” Nnamdi said.

He warned that continued delays risk igniting mass protests, legal battles, and further deterioration in public infrastructure and service delivery.

“The non-payment has severely hindered the implementation of constituency projects and eroded public confidence in the government’s ability to deliver on its promises,” he added.

Following deliberations, the House resolved to summon the aforementioned officials to appear on Tuesday, May 13, 2025, to provide explanations for the delays and to present a timeline for settling outstanding verified payments.

Additionally, the House mandated its Committees on Public Accounts and Budget and Economic Planning to launch a joint investigation into the systemic lapses that have stalled fund disbursement. The committees are expected to report their findings within four weeks, including recommendations for possible legislative action.