The House of Representatives Committee on Finance has queried irregularities in the registration of subsidiary companies under the Nigerian Postal Service, NIPOST.
It also raised issues over the approval and withdrawal of N10 billion for the purpose of the registration of the subsidiary companies.
Preparations are in top gear for the presentation of the 2024 Appropriation Bill by President Bola Tinubu to the National Assembly.
The passage of the Medium Term Expenditure Framework and the Fiscal Strategy Paper 2022-2024 request is a prerequisite for the budget presentation.
This is the essence of the engagement by the Finance Committee with relevant Ministries, Departments and Agencies of Government.
The Committee laments shortfall of resources in government coffers, a position agreed to by the Accountant General of the Federation
At the technical session, Chairman of the Committee, James Faleke said the documents before the committee showed that two subsidiary companies under NIPOST were registered under individual names as shareholders instead of the Federal Government, wondering why that was so since NIPOST is a federal government.
He directed the query at the Chief Executive Office of Finance Incorporated, MOFI, Armstrong Takang.
The committee frowned at the absence of the Minister of Budget and National Planning as it hosts 8 agencies next.
