Reps investigate N226.3bn judgement debt incurred by MDAs

A total of N226,281,801,881.64 in judgement debt incurred by government ministries, departments, and agencies has been designated for investigation by the House of Representatives.

To protect the government’s finances, the lower legislative house also decided to acknowledge the urgency of paying these judgement debts.

The vote came after a motion by Hon. Lanre Okunlola was passed in plenary on Thursday calling for the immediate settlement of top priority judgement debts incurred by MDAs through Promissory Notes.

The legislator who introduced the motion argued that settling judgment debts quickly was crucial to protecting the government’s finances and its credibility.

He stressed the importance of dealing with judgement debts in an open and honest fashion.

In a speech, Okunlola stated, “The various Ministries, Departments and Agencies (MDAs) of government have incurred substantial judgement debt totaling the sum of $556,754,584.81, £98,526.17, and N 226,281,801,881.64 which pose a significant financial burden on our nation’s finances.”

After the motion was passed, the House decided to look into “the existence and magnitude of the judgement debt incurred by MDAs.”

To ensure the continued fiscal health of our government, it is imperative that we resolve these judgment obligations immediately.

To satisfy these judgment debts, I hereby authorize the issuing of a Promissory Note.

The House also directed its Committee on Aids, Loans, and Debt Management to monitor the note-issuing process and report back on any findings or concerns it may have.