President Bola Ahmed Tinubu has approved the establishment of a Special Presidential Panel led by the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, to review and audit existing financial frameworks and policy guidelines of the social investment programmes with a view to implementing a total re-engineering of the financial architecture of the programmes with detailed modification to procedures guiding the programmes’ implementation moving forward.
The decision follows his six-week suspension of the four programmes under the National Social Investment Programmes Agency (NSIPA). The Special Presidential Panel comprising ministers representing strategic sectors will ensure a multi-disciplinary approach to the reform effort.
It has the Coordinating Minister of the Economy and Minister of Finance as Chairman.Other members of the panel are Coordinating Minister of Health and Social Welfare, Minister of Budget and Economic Planning, Minister of Information and National Orientation, Minister of Communications, Innovation and Digital Economy and Minister of State for Youth.
A statement issued by the President’s spokesman, Ajuri Ngelale, yesterday, said: “The President anticipates that this Special Presidential Panel will validate the confidence reposed in it by winning back all lost public confidence in these vital programmes over the years by ushering in a new era of operation based on open and accountable governance frameworks that will prove impervious to abuse and incompetence for the exclusive benefit of disadvantaged households across our nation.”
