Deputy Speaker, Rt. Hon. Benjamin Okezie Kalu has highlighted the importance of reinvesting dormant resources, in the form of recovered public funds, to boost the economy and generate employment opportunities.

Kalu made this statement on Monday during the inaugural session of the House ad-hoc committee on "Identification and Recovery of Public Funds Seized, Forfeited, and Abandoned in Financial Institutions and Government Agencies to Improve the Current Economic Challenges in Nigeria." This committee, chaired by Hon. Munachim Alozie, was representing the Speaker of the House, Rt. Hon. Tajudeen Abbas.

Kalu emphasized, "Our objective is clear: to develop a comprehensive strategy that identifies, recovers, and redirects idle funds towards productive ventures. These dormant resources hold the potential to rejuvenate our struggling economy, creating paths for growth, development, and prosperity that resonate with every Nigerian."

He acknowledged the multi-faceted challenges within Nigeria's economic landscape, including declining revenues, infrastructural gaps, unemployment, and inflation. Kalu urged the committee to operate with an unwavering commitment to transparency, accountability, and diligence while navigating complex financial systems and legal intricacies.

Despite the significant task ahead, Kalu expressed the need for collective expertise to bring forth innovative solutions. He stressed the importance of collaboration among financial institutions, government bodies, legal entities, and the private sector to achieve the committee's objectives. The committee's primary role is to optimize the real-time value of recovered public funds to stimulate the economy's revitalization.

Furthermore, Kalu highlighted three pivotal aspects of the committee's role: ensuring accountability and transparency, building trust between the government and its citizens, and maximizing the immediate value of recovered public funds to rejuvenate the economy and prevent stagnation