House Committee demands clear repayment schedule for borrowed Universal Basic Education Commission funds.
The House Public Accounts Committee in Abuja has summoned the Minister of Finance, Taiwo Oyedele, and the Accountant-General of the Federation, Shamseldeen Ogunjimi, to appear on October 22. The lawmakers are demanding answers regarding an outstanding N75bn debt borrowed from the Universal Basic Education Commission.
Led by Deputy Chairman Jeremiah Umaru, the committee is insisting on a definite repayment schedule and firm assurances from the top government officials. Lawmakers expressed deep concern that public funds were withdrawn from government agencies without clear repayment terms, prior notification, or established regulatory frameworks.
Representing the Accountant-General in Abuja, Deputy Director Ezeoke Christopher explained that the funds served as internal arrangements to address funding shortfalls. Despite claims that the office has refunded up to N90bn, according to information published by punchng, the committee remains unsatisfied and demands personal appearances.
Parliamentary Probe Into Government Borrowing Practices
During the hearing in Abuja, lawmakers criticized the practice of diverting funds meant for basic education. They warned that such actions could severely undermine the interventions of the Universal Basic Education Commission across various states and federal constituencies that rely heavily on these specific programmes.
The legislative committee also questioned the reported practice of deducting up to 50 percent of certain government agencies' revenues monthly or quarterly. Members noted that these arbitrary deductions leave critical institutions struggling to pay staff salaries and finance their essential daily operations without prior warning.
Financial Explanations From Ministry Officials
Defending the financial actions before the committee, Deputy Director Ezeoke Christopher stated that the internal borrowing arrangements were driven by the urgent need to meet soaring personnel costs exceeding N1 trillion monthly. He added that more than N70bn still remains outstanding from the original transactions.
Alongside Christopher, Permanent Secretary in the Ministry of Finance Muhammed Danjuma presented details of the accounts. However, their explanations failed to convince the panel, which firmly maintained that the principal officials must account personally for the missing funds and present a formal timetable.
Universal Basic Education Commission Updates
Providing broader updates to the committee in Abuja, Universal Basic Education Commission Executive Secretary Olajumon Akinyemi revealed that over 20 states accessed their matching grants in 2025, while more than 13 states successfully accessed theirs for 2026.
Akinyemi identified Imo, Ogun, Anambra, Lagos, Kwara, and Katsina as states currently facing outstanding issues with counterpart funding. He also disclosed that a new bill is before the National Assembly to empower the commission to redeploy unaccessed funds after two years.
Frequently Asked Questions
Why did the House of Representatives summon the Finance Minister?
The House Public Accounts Committee summoned Minister of Finance Taiwo Oyedele and Accountant-General Shamseldeen Ogunjimi to demand a repayment schedule for an outstanding N75bn borrowed from the Universal Basic Education Commission.
What is the N75bn debt issue concerning UBEC?
Lawmakers are investigating the withdrawal and borrowing of N75bn belonging to the Universal Basic Education Commission without clear repayment terms, proper notification, or established guidelines.
When must the Finance Minister and Accountant-General appear before the committee?
The House Public Accounts Committee directed Taiwo Oyedele and Shamseldeen Ogunjimi to appear in person in Abuja on Thursday, October 22, to resolve the funding issues.
Which states have outstanding Universal Basic Education matching grants?
Universal Basic Education Commission Executive Secretary Olajumon Akinyemi stated that Imo, Ogun, Anambra, Lagos, Kwara, and Katsina have outstanding issues relating to counterpart funding.
