Reps Look Into MDAS's N226.3 Billion Judgment Debt

The House of Representatives has decided to look into the judgment debt of N226,281,801,881.64 incurred by government Ministries, Departments, and Agencies (MDAs).

In order to preserve the government's financial stability, the lower legislative house also decided to acknowledge the urgency of dealing with these judgment debts.

The resolution of the parliament followed the acceptance of a motion by Hon. Lanre Okunlola on the urgent need to secure the quick payment of top priority judgment debts incurred by MDAS through Promissory Notes.

The lawmaker who proposed the motion noted that in order to protect the government's finances and reputation, judgment debts are top-priority commitments that must be promptly settled.

It was critical, he said.

He insisted that these court-ordered debts must be handled responsibly and openly.

Added Okunlola: "The various Ministries, Departments and Agencies (MDAs) of government have incurred substantial judgement debt totaling the sum of $556,754,584.81, £98,526.17 and N 226,281,801,881.64 which pose a significant financial burden on our nation's finances."

"Investigate the existence and magnitude of the judgment debt incurred by MDAS," the House decided, after the motion was approved.

"Recognizes the urgency of addressing these judgement debts to safeguard the financial stability of our government.

"Authorise the issuance of Promissory Note to settle these judgement debts."