The House of Representatives has begun an investigation into how a sum of $5 million was spent by the administration of Former President Olusegun Obasanjo.The money was meant for the Lake Chad Basin Commission.
The investigation started on Thursday, December 17, 2015
According to the House, the money was given to the commission to carry out “feasibility studies on how to direct rivers to the lake,” but not much was heard about the money after it was released.
“The House is aware that the percentage contribution towards the commission’s annual budget is 40 per cent by Nigeria; 18 per cent by Libya; 20 per cent by Cameroon; seven per cent by Niger; 11 per cent by Chad and four per cent by Central African Republic,” a resolution by the House read.
“The House is informed that the sum of $5m was released by the administration of former President Olusegun Obasanjo to the commission for feasibility studies on how to divert rivers from the Central African Republic to Lake Chad, which was drying up, in addition to funding the Lake Chad Basin Commission’s annual budget through the funding formula, to which Nigeria contributes 40 per cent.
“The House regrets that transaction of this magnitude paid for with tax payers’ money has not been given the due attention it deserves by way of follow-up,” the resolution added.
Speaker of the House,Yakubu Dogara later ordered the committee to conduct the investigation and produce a report within eight weeks.
