The House of Representatives Committee on Banking and Currency has commended the Central Bank of Nigeria (CBN) over the ongoing intervention projects at the Administrative Staff College of Nigeria (ASCON), Topo, Badagry.
The project, which cost N9.5 billion, is one of the several intervention projects across sectors of the economy undertaken by the apex bank to build capacity. It has been adjudged strategic to economic development.
The project sites visited by the lawmakers included three blocks of two and three-storey hostel buildings and an adjoining 500-seater auditorium.
Addressing newsmen at the end of their oversight visit to the bank’s project location in Lagos, the Chairman of the committee, Sir Jones Onyereri, said the committee was impressed with the current level of work compared with what they met on ground during their first visit.
According to him, “the committee was highly impressed by the outcome of the work being done at the project site. What we saw surpassed our expectation. We didn’t think we would get this kind of outcome judging from our first impression. By looking at the project as it is, I think it’s so far, so good.”
However, he hinted that the apex bank has created a conducive learning environment for participants in the institution, which, he said, was lacking before CBN’s intervention.
He added: “There is no doubt that the three-bedroom flat for the staff, hostel accommodation and restaurant for the participants and a very good auditorium will create room for learning process.”
On this background, he commended CBN for making use of local contractors for its various projects, saying that such act shows that Nigeria is beginning to patronise local contractors.
He maintained that the committee would have to look at all records pertaining to the project to know the actual use of all money allocated for it and how the money is being expended on the project.
Said he: “But having said that, we still have to look at the whole book to make sure we catch proper use of the money expended because that is really our work as legislatures – to find out that we make proper or best use of whatever kobo is put in the project.”
During the course of the tour, Onyereri pointed out some areas in the construction, which he urged the bank and the engineers to effect correction on.
He explained that the committee embarked on the inspection as part of its oversight function and because of “the grouse about intervention projects.”