By Levinus Nwabughiogu
ABUJA—THE House of Representatives has asked the executive arm of government to stay further action on the planned closure of the National Economic Reconstruction Fund, NERFUND, opting to investigate alleged mismanagement of the agency.
To this end, the House resolved to set up an ad-hoc committee to investigate the activities of NERFUND and its current status.
The Federal Government had reasoned that activities of the fund were becoming counter-productive and, consequently, planned to close it.
But in a resolution, which emanated on the heels of a motion sponsored by Bode Ayorinde, Ondo State, at yesterday’s plenary, the House beckoned on the Federal Government to stay action on the matter, pending when investigations would be concluded.
Presenting the motion, Ayorinde, however, noted that the 28 years old organisation had…
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