§ 43. Mr. James Johnsonasked the Secretary of State for the Colonies what are the accumulated surpluses of the 1172 marketing boards of the Gold Coast and Nigeria.
§ Mr. J. GriffithsI cannot do more than refer my hon. Friend to the published annual reports and accounts of these Boards. I am inquiring when the latest annual reports may be expected and will inform my hon. Friend when I know.
§ Mr. JohnsonDoes the Minister not think it a good thing to plough back some of these vast sums into the domestic economy? Would not the Nigerians be a little happier if some were used to finance the Faculty of Medicine at the University of Ibadan, which is languishing for lack of funds?
§ Mr. GriffithsIt is a very important question, but my hon. Friend probably knows that some of these accumulated funds can only be used for specific purposes. If he desires information as to how they are used, perhaps he will be good enough to put down a Question, when I will give him what information I can.
§ Mr. Lennox-BoydIs the right hon. Gentleman not aware that the great majority of the House are anxious that there should be the utmost discretion in the use of these funds, although we realise that there is a problem that ought to be discussed in the House at an early date?
§ Mr. GriffithsYes, Sir. The schemes under which these funds are accumulated were set up to protect these particular territories against the terrible consequences of such depressions as were experienced in the 'thirties.