Ola Akinwunmi
The House of Representatives has summoned the Minister of Finance, Wale Edun, and the Governor of the Central Bank of Nigeria, Olayemi Cardoso, to appear before a joint committee on Monday, June 16, 2025, over allegations of violations of the Fiscal Responsibility Act and audit infractions flagged in the 2021 Auditor General’s report.
The invitation was issued by the Joint Committees on Public Accounts and Public Assets, led by Hon. Bamidele Salam and Hon. Ademorin Kuye, respectively. In a jointly signed letter, the committees directed both officials to provide clarifications on irregularities uncovered in the remittance of operating surpluses and internal financial control weaknesses across federal agencies.
According to the lawmakers, the Fiscal Responsibility Commission and the Office of the Auditor General for the Federation have raised repeated concerns over the failure of several Ministries, Departments and Agencies (MDAs)—including the CBN—to remit their full operating surpluses to the Federation Account over the past six years, in clear breach of financial laws.
“These violations have negatively impacted the liquidity of the federal government and constitute a hindrance to effective implementation of the budgets passed by parliament,” said Hon. Salam, Chair of the Public Accounts Committee.
The lawmakers said the hearing aims to determine the full scope of financial liabilities and ascertain accountability, following a long grace period granted to both the Finance Ministry and the apex bank to reconcile their records.
Also under scrutiny are allegations that several government-funded projects across the country remain uncompleted years after payment. The 2021 Auditor General’s report cites abandoned projects in locations such as Dutse and Abeokuta, awarded between 2011 and 2016, which remain dormant despite being fully financed.
The committees said the June 16 session will be a final hearing to resolve the outstanding issues, ensure transparency, and reinforce the National Assembly’s commitment to accountability in public finance and asset management.
