Reps Summon CBN Gov Over Alleged ₦16trn Non-Remitted Funds

The House of Representatives has resolved to summon the Governor of the Central Bank, Olayemi Cardoso, after a rowdy session ensued following a motion seeking to invite Cardoso to explain the non-remittance of identified government revenues and present a concrete plan for immediate payment of all outstanding amounts into designated Federal Government accounts.

The resolution was reached following a motion alleging non-remittance of over ₦5 trillion operating surplus and ₦11 trillion government revenue by the CBN.

The motion was raised by the Chairman of the Committee on Public Accounts, Bamidele Salam, who informed the house that the CBN governor had ignored several invitations from the committee.

Salam explained that the observation was made from the 2022 financial year report of the Auditor General of the Federation.

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The Osun lawmaker described it as unacceptable at a time the nation is grappling with dwindling revenues, rising insecurity, and acute infrastructure needs.

The Speaker’s position for an ad hoc committee to take over the investigation instead of the initial prayers for the CBN governor to appear before the entire house, caused a stir among members as they questioned why an adhoc committee should be set up, instead of enforcing the powers of the public accounts committee, which is constitutionally created.

Visibly upset, the Speaker, Tajudeen Abbas, called out and issued warnings to some lawmakers for disorderly behaviour.

After several attempts to calm dissenting voices, the Speaker eventually succumbed to the majority decision to summon the CBN governor to appear before the Public Accounts Committee.