The House of Representatives Committee on Public Account has taken steps to unearth the utilisation of $125 million, which the Federal government borrowed from the World Bank.
Chairman of the committee, Hon. Wole Oke, ordered signatories to the account of the Office of Auditor-General of the Federation (OAUGF) to appear before it to explain the utilisation.
The committee also summoned the Director-General of the Budget Office of the Federation, Mr. Ben Akabueze, to explain the loans.
The committee also asked him to explain the grant amounting to $125 million it collected from the World Bank, an amount that was not captured in the 2018 Appropriation Act.
Oke directed all collaborating Ministries, Departments and Agencies (MDAs) to appear before the committee. The committee asked Akabueze to explain whether the office had access to the $36.1 million through loans and grants in four years, adding that $200,000 was disbursed to the OAUGF.
He said the document presented before the committee showed the list of beneficiaries of the loan, of which OAUGF was among, adding that the $125 million was the total sum of loans received from the World Bank.
He further explained that $36.1 million was the loan component while $1.2 million was for grant, adding that the loan could also be spent on capital projects.