Reps Demand CBN, NNPCL Remittance Details Amid Allegations

On Tuesday, the Public Accounts Committee of the House of Representatives in Nigeria requested detailed remittance information from the Central Bank of Nigeria (CBN) and the Nigeria National Petroleum Company Limited (NNPCL). This inquiry is part of an investigation into alleged withdrawals amounting to N15 billion from the Universal Basic Education Commission (UBEC) account.

Committee member Gboyega Isiaka pointed out that the non-remittance of revenue is a significant challenge for Nigeria, which has a GDP of only 16 percent. The committee is examining the backlog of remittances, with the Office of the Accountant General of the Federation (OAGF) confirming that the CBN allegedly owes the federal government N5.3 trillion in unremitted operational surplus.

Shamseldeen Ogunjimi, representing the OAGF, was present at the hearing to provide insights into the financial discrepancies.