Reps Demand Disclosure on CBN, NNPCL Unremitted Funds

The Public Accounts Committee of the House of Representatives, led by Hon. Gboyega Nasir Isiaka, has called for a detailed disclosure from the Office of the Accountant General of the Federation (OAGF) regarding outstanding funds owed to the federal government by various agencies, including the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Company Limited (NNPCL).

The committee highlighted that CBN allegedly owes N5.3 trillion in unremitted operating surpluses, despite being required to remit 70% of its surplus. The committee expressed concerns over the persistent non-remittance of revenues by government agencies, which poses a significant challenge to Nigeria's fiscal sustainability.

Additionally, allegations surfaced regarding the withdrawal of N15 billion from the Universal Basic Education Commission's account without proper authorization. The committee is investigating these claims and has received complaints about other agencies, including the Federal Airports Authority of Nigeria, which reportedly remitted N473 billion.

The OAGF has been directed to provide detailed information on these outstanding remittances.