Concerned members of the House of Representatives on Tuesday called on Federal Government to redirect it’s policies and programmes in the wake of the economic recession.
Rimamnde Shawulu, Chairman House Committee on Army who gave the charge in a chat with BusinessDay, accused Federal Government of stifling the productive sectors of the economy including the banking and real sectors as a result of the poor implementation of the Treasury Single Account (TSA) and warehousing of recovered funds in the Central Bank of Nigeria (CBN).
He explained that the value of over N11 trillion accrued from into the Single Treasury Account (TSA), Contributory Pension and recoveries from the looted funds warehoused in CBN have lost value by 100% due to the Naira devaluation and the challenges posed by foreign exchange.
“The first thing that Government should do is to review the operation of TSA. That is what brought down the economy. The government said that it has collected about N3 trillion from the looted funds in the custody. It has also recovered N3 trillion of TSA, that is N6 trillion warehouse in Central Bank.
“It is not generating any income. See, the banking sector is a system, the money that goes into the system now we will now short circuit the system by making the Central Bank to start playing the role of the retail banks.
“It is Central Bank that now pays contractors, you get money through TSA through Central Bank. The money that was warehoused in the TSA for over a year ago has lost 100 percent value,” he noted.
The lawmaker also noted that the inability of the commercial banks to perform their role in the economy has further increased unemployment rate in the country as well as incapacitated the real and SMEs sectors.
Also at the Tuesday plenary, the House urged the Federal Airports Authority of Nigeria (FAAN) to immediately reverse its decision to increase Access Gate Charge slated for first day of October, 2016.
The House also mandated its Committee on Aviation to engage the management of FAAN for possible explanation on the purported increment amidst the current challenges in the country.
The resolution was passed sequel to the adoption of the motion under matters of urgent public importance sponsored by Rotimi Agunsoye (APC-Lagos), which was unanimously adopted by members through a voice vote.
In his lead debate, Agunsoye explained that FAAN recently published notices in and around airports in Nigeria of its intention to increase the rates of “Access Gate Charge” on motorists seeking access into airports.
According to the lawmaker, the increment is slated, at first, in line with the notice to commence from Thursday, September 1, 2016, but enforcement later differed to the first day of October, 2016.
“The Access Gate Charge on motorists by FAAN has up to date been a fee of N200 for cars, N300 for buses, SUVs and jeeps.
“While other heavy duty vehicles including Trucks among others are charged N500 per entry.
“Motorists are now forced to pay a N100 per cent increment with cars now pay N400; Buses, SUVs and Jeeps. While other heavy duty vehicles including Trucks among others are charged N500 per entry,” he said
Agunsoye expressed concern that the reason for the decision which was endorsed by the management of FAAN has not any in way been convincingly communicated to the public.
The lawmaker further expressed concern that the increment was coming at a time when the vast majority of Nigerians were groaning under the current challenges in the country.
He added that the house was determined to intervene and ensure that policies and resolutions that negatively affect citizens and residents of the country are modified.
