House of Representatives has organised a one-day public hearing on a Bill for An Act to Repeal the Ministry of Finance Incorporated Act, 2004 and Any Amendments Thereto and Enact the Ministry of Finance Incorporated.
The Speaker, Honourable Tajudeen Abbas while declaring open the Public, hearing at National Assembly, Complex Abuja urged for constructive criticism from Stakeholders to enable lawmakers make an inform legislation.
Abbas, further stressed the need for relevance Ministry of Finance Incorporated, MOFI, to bugle up in its operations even as he alleged consistent failure by the agency to act in compliance with the laws and best practices.
Also speaking were the Chairman of the House Committee on Finance, Hon. James Faleke and chairman House Committee on Public Assets, Hon. Ademorin Kuye who explained that the public hearing is to elicit inputs from the MOFI as an entity and other stakeholders as well as the general public, with a view to enhancing the performance of MOFI and to ensure adequate revenue generation for the government for sustainable national economic development.
Present at the hearing includes Ministry of Finance Incorporated, Galaxy Backbone and other relevant stakeholders .
They all agreed on the need for the Repeal of the Act and amendment of the relevant section to enhance MOFI’s performance.
