South Antrim candidate David Ford was speaking after the BBC reported it had a list of the claimants, which revealed a small number of companies registered as dormant have been claiming tens of thousands of pounds.
Mr Ford said Arlene Foster should have protected public funds by putting cost controls in place.
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He said: "Last December, had she agreed to temporarily step aside without prejudice, we would have had an investigation well underway. Her agreement to any inquiry only came when her joint first Minister effectively suspended her from her job.
"The current Economy Minister Simon Hamilton should have released details of claimants last December. There is no excuse for him waiting until court injunctions were sought and claiming he wants the information published.
"The public will not be fooled by those responsible for the scheme suddenly saying they want openness, particularly when the election material the DUP has published attempts to mislead by claiming that regulations passed by the Assembly 'seek to eliminate future cost to the Northern Ireland budget'. This statement ignores the 20-year contracts entered into with applicants to the scheme."
(CD/MH)
