Finance ministry, accountant-general criticised for withholding verified contractor payments

• The Centre for Economic Justice and Social Equity (CEJSE) has accused Nigeria’s Finance Ministry and Accountant-General of stalling verified contractor payments
• The radical warned that delayed payments are crippling businesses, expanding occupation losses, and eroding spot successful public-private partnerships
• CEJSE demands contiguous disbursement, a nationalist audit, and structural reforms, threatening ineligible enactment if authorities inaction continues

A civic watchdog has taken purpose astatine apical authorities officials, blaming them for what it describes arsenic a cascading economical situation triggered by the prolonged non-payment of contractors who person completed verified nationalist projects.

The Centre for Economic Justice and Social Equity (CEJSE) issued a strong-worded connection connected Tuesday, accusing some the Ministry of Finance and the Office of the Accountant-General of the Federation of administrative nonaccomplishment and economical sabotage.

Finance curate and accountant-general slammed implicit delayed contractor payments. Photo: FB/Minister of Finance
Source: Getty Images

Group speaks retired aft years of unpaid debt

Speaking done its president, Dr. Ibrahim Okehi Omeiza, the organisation expressed interest that contempt completing their contractual obligations, respective authorities contractors stay unpaid—some for implicit a year—despite task approvals and confirmed fund allocations.

Dr. Omeiza likened the persistent delays to a “silent but deadly virus,” informing that the knock-on effects are rippling done the economy, crippling tiny businesses, causing wide layoffs, and breaking down section economical systems.

“Contractors are the lifeblood of nationalist development. They are builders, work providers, and employers. When they are owed for months and sometimes years, it leads to layoffs, defaults connected loans, and a breakdown of section economies that beryllium connected them,” helium said.

CEJSE revealed that galore affected contractors had taken retired loans astatine steep involvement rates from section fiscal institutions to execute authorities contracts, lone to look a ceramic partition astatine the outgo stage.

Legal enactment threatened should ministry fails to comply

According to the group, immoderate contractors person waited arsenic agelong arsenic 18 months without receiving immoderate compensation, contempt aggregate follow-ups and documented approvals.

“It is unconscionable that aft fulfilling their extremity of a legally binding agreement, contractors are made to spell from 1 ministry to different similar beggars,” Dr. Omeiza added.

The radical described the concern arsenic some a fiscal and motivation failure, calling connected the Finance Minister and Accountant-General to connection a transparent relationship of wherefore payments person stalled.

It warned that continued soundlessness and inaction could jeopardize public-private partnerships and scare disconnected imaginable investors.

“No section oregon planetary spouse volition privation to enactment successful a clime wherever outgo is uncertain, wherever the rules alteration mid-game, and wherever owed process is sacrificed astatine the altar of authorities oregon idiosyncratic interest,” the connection said.

CEJSE has present demanded the contiguous merchandise of each outstanding payments, a afloat audit into the delays, and structural betterment to streamline contractor disbursements

The radical besides warned of imaginable ineligible actions should the authorities neglect to act.

Foreign investors flock to Nigeria amid Tinubu's reforms

Earlier, Legit.ng reported that Nigeria’s coagulated minerals assemblage is undergoing a transformation, with caller reforms nether President Bola Tinubu’s medication triggering a sixfold revenue increase and attracting implicit $800 cardinal successful overseas concern wrong a year.

Minister of Solid Minerals Development, Dr. Dele Alake, disclosed the figures during a feature interrogation for a State House documentary marking the President’s 2nd twelvemonth successful office.

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Source: Legit.ng