The Nigerian House of Representatives is considering a bill to establish a Public Accounts Tribunal responsible for the recovery of public funds and properties found to have been misappropriated or due to the Government of the Federation. The bill, sponsored by Hon. Oluwole Oke, outlines the structure and powers of the Tribunal.

Key provisions of the bill include:
1. Composition of the Tribunal: The Tribunal shall consist of a retired Judge of a Superior Court of Record as Chairman, representatives from the Federal Ministry of Justice, Federal Ministry of Finance, Accountant-General of the Federation, and two representatives from the Nigerian Bar Association and the Institute of Chartered Accountants of Nigeria.

2. Funding: The Tribunal will be funded based on appropriations by the National Assembly in an Appropriation Act passed into law.

3. Powers of the Tribunal: The Tribunal can examine reports and recommendations from the Public Accounts Committee, initiate steps to recover funds or assets, apply sanctions, refer matters for criminal prosecution, and make recommendations to the President based on its findings.

4. Confirming or Varying Decisions: The Tribunal can confirm or vary decisions of the Public Accounts Committee and must provide a fair hearing to affected parties.

5. Recovery of Funds or Property: Enforcement officers can be appointed to enforce the Tribunal’s orders for the recovery of funds or property.

6. Penalties: Failing to respond to a summons or inquiry by the Tribunal may result in a fine or imprisonment.

7. Orders for Refund: The Tribunal can make orders for the refund of any sum of money against individuals responsible for public fund or property loss, and their property or assets can be charged for payment to the Government.

The bill aims to enhance accountability and transparency in the management of public funds and assets.