Senate Demands Accountability in Use of Public Funds

The Senate has stressed the need for accountability, prudence and professionalism in the use of public resources by government agencies.

Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Mukhail Adetokunbo, made this known on Friday during an oversight visit to the Nigeria Deposit Insurance Corporation’s Owerri Zonal Office in Imo State.

Adetokunbo, who was represented by Senator Osita Izunaso (Imo West), said the Senate would continue to support the NDIC through relevant legislation and budgetary provisions to enhance its operations.

He said the visit provided the committee with an opportunity to engage with the management and staff of the corporation, review its ongoing activities, assess operational challenges and gain first-hand insight into its working conditions.

According to him, key issues of interest to the committee include funding, staffing, infrastructure, inter-agency collaboration, as well as compliance with existing laws and policies.

He said, “Let me assure you that the Senate remains committed to supporting the NDIC through appropriate legislation and budgetary provisions, where justified, to enable the Corporation discharge its responsibilities effectively.

“At the same time, we expect the highest standards of accountability, prudence, and professionalism in the use of public resources.”

Izunaso was accompanied on the visit by Senators Tony Nwoye and Kelvin Chukwu, who are members of the committee.