REPS SUMMON FINANCE MINISTER, CBN GOV OVER FISCAL ACT VIOLATION, AUDIT INFRACTIONS
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By: Sefiu Ajape
The Joint House of Representatives Committees on Public Accounts and Public Assets have summoned the Minister of Finance, Wale Edun, and the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before them on Monday, June 16, 2025, over alleged violations of the Fiscal Responsibility Act, 2007.
The high-ranking officials are also expected to respond to concerns over internal control lapses highlighted in the 2021 audit reports issued by the Office of the Auditor-General for the Federation.
In a letter jointly signed on Saturday by Bamidele Salam, Chairman of the Public Accounts Committee, and Ademorin Kuye, Chairman of the Committee on Public Assets, the lawmakers requested detailed explanations regarding the CBN’s remittance of operating surplus to the Federation Account in accordance with applicable financial laws and regulations.
This summons follows reports from the Fiscal Responsibility Commission and the Auditor-General, which allege that numerous Ministries, Departments, and Agencies—including the CBN—have either failed to remit or under-remitted their operating surpluses over the past six years.
According to the Public Accounts Committee Chairman, “These violations have negatively impacted the liquidity of the federal government and constitute a hindrance to effective implementation of the budgets passed by parliament.”
The Committes said it had given both the Finance Ministry and the apex bank adequate time to reconcile their accounts and present their positions in order to determine the degree of financial liabilities involved, hence the need for a final hearing to resolve the issues.
The Committee is equally looking at a report in the Auditor General for the Federation statutory report alleging that a number of public assets which had been fully paid for have not been completed and put into use for many years.
“Some of these projects in Dutse, Abeokuta, and other locations were awarded between 2011 and 2016 but yet to be completed according to audit reports,” the statement further read.
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