The Speaker, Dr. Ali Ahmad gave this indication in Ilorin during the 2016 Ministerial Budget Defence of Harmony Holdings before the House Committee on Finance and Appropriation.

Ahmad explained with dissatisfaction that the operations and activities of the Holdings were shrouded in secrecy, which according to him should not be so.

He said the Holdings was incorporated by the State Government as company to ensure efficient running of all the State Owned Ventures to improve the Internally Generated Revenue IGR of the State Government,pointing out that from 2016, the legislature would no longer appropriate any public fund to the holdings.

The Speaker explained that the 8th Legislature under his watch would continue to be people-oriented in its legislative duties and enjoined the hierarchy of the Holdings to be innovative in its operations to enable Harmony Holdings properly harness the economic potentials of the State.

The Speaker noted with dissatisfaction that the State government had invested greatly in the Harmony Holdings, stressing that the Holdings was not generating IGR to justify the government's colossal investment in the limited liability Company.

Ahmad who counselled the management of the Holdings on how to expand its Capital base disclosed that the House of Assembly would continue to interact with management of the holdings for accountability and improved performance to justify its existence.

He equally assured that the House of Assembly would continue to create enabling environment for effective service delivery by the Holdings.

This he said would be achieved by addressing issues hampering its effective operation, noting that Harmony Holdings has the capability to surpass the performance of Odu'a investments in the South West and become an international outfit, if the management was innovative, efficient and transparent in running the affairs of the Limited liability company

Ahmad then directed the Group Managing Director of the Holdings to produce credible information on release of funds to it from 2013 to date by the State Government.

Earlier, the Group Managing Director of Harmony Holdings Tope Daramola who enumerated the activities and challenges confronting the Holdings said the State government owns all the shares of the Company 100% and no individual has any proprietary interest in it.

He further disclosed that the Holdings had not taken full control of the State Owned International Aviation College and Advanced Diagnostic Centre thereby hampering its revenue generation to the coffers of the State government.