The House of Representatives Committee on Finance has initiated an inquiry into the National Lottery Trust Fund over its unauthorized spending of internally generated revenue (IGR).
During a hearing on the Medium Term Expenditure Framework (MTEF) on Monday, the committee ordered a status inquiry into the Fund’s expenditure without budgetary approval.
Bello Maigari, the Executive Secretary/Chief Executive Officer of the Fund, and the management team appeared before the Committee to justify their revenue estimates.
Maigari’s submission revealed that the agency had been utilizing all its IGR without seeking approval from the National Assembly.
According to Maigari, the agency’s actions were in accordance with Section 40 of the Act, which permits the spending of generated revenue on various projects nationwide.
He informed the lawmakers that the Fund had generated a total of N2, 492, 996, 588.13 in 2023, and the entire amount had been utilized for diverse projects.
In response, the Committee’s Chairman, James Faleke, challenged Maigari’s position, stating that the agency’s conduct contravened the provisions of the 1999 Constitution.
Addressing Maigari, Faleke exclaimed, “It’s as though the government established this agency for you and your family. That’s what you’re implying. You generated almost N2.5 billion and spent the exact same amount down to the last kobo. You generated N2, 492, 996, 588.13 from one source and then expended the exact same amount. And you report 100 per cent performance.”
Consequently, the Committee called for a comprehensive inquiry into the agency’s activities from its inception to date.
It’s worth noting that President Bola Tinubu has forwarded the 2024/2026 MTEF to the National Assembly for approval.
