The House of Representatives session turned rowdy as lawmakers clashed over the alleged ₦16 trillion unremitted funds by the Central Bank of Nigeria (CBN). The controversy surrounds ₦5.2 trillion in unpaid operating surpluses and ₦11 trillion in revenue discrepancies between 2016 and 2022.
Key Issues:
– Unremitted Operating Surpluses: ₦5.2 trillion owed to the federal government
– Revenue Discrepancies: ₦11 trillion difference between CBN’s reported collections and PAC’s computation
– Unrefunded Charges: ₦954 million collected by CBN, with ₦3.28 billion due for refund including interest
– Migration Discrepancy: ₦2.68 trillion outstanding and payable to the Federal Government’s Asset Recovery Account
The Public Accounts Committee (PAC) has summoned CBN Governor Olayemi Cardoso to appear before them on December 16 to explain the non-remittance and present a plan for immediate payment .
The heated debate highlights concerns about Nigeria’s financial management and accountability, with lawmakers emphasizing the need for transparency and prompt recovery of government funds .
