The House of Representatives on Thursday resolved to investigate the existence and magnitude of the judgement debts incurred by Ministries, Departments and Agencies (MDAs) of the federal government with a view to resolving them.
This followed the adoption of a motion by Rep Lanre Okunlola (Lagos, APC) on the urgent need to ensure the prompt payment of top priority judgement debts incurred by MDAs through promissory notes.
Moving his motion, Okunlola raised concerns that the various Ministries, Departments and Agencies (MDAs) of government have incurred substantial judgement debts totalling the sum of USD 556,754,584.81, GB 98,526.17 and N 226,281,801,881.64 which he said pose a significant financial burden on the nation’s finances.
Okunlola said the judgement debts were top priority obligations that require prompt resolution to ensure the financial stability and reputation of the government.
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In adopting the motion, the house resolved to authorise the issuance of promissory notes to settle these judgement debts.
The house mandated its Committee on Aids, Loans and Debt Management to oversee the process of issuing promissory notes and report to it accordingly.
