{"id":119723,"date":"2025-06-14T18:16:20","date_gmt":"2025-06-14T17:16:20","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=119723"},"modified":"2025-06-14T18:16:20","modified_gmt":"2025-06-14T17:16:20","slug":"reps-summon-finance-minister-cbn-gov-over-audit-queries-breach-of-fiscal-laws","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/reps-summon-finance-minister-cbn-gov-over-audit-queries-breach-of-fiscal-laws\/","title":{"rendered":"Reps Summon Finance Minister, CBN Gov Over Audit Queries, Breach of Fiscal Laws"},"content":{"rendered":"
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By Tracy Moses<\/div>\n
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The Joint Committee on Public Accounts and Public Assets of the House of Representatives have summoned the Minister of Finance, Mr. Adebayo Olawale Edun, and the Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, to appear before them over alleged violations of the Fiscal Responsibility Act, 2007, and unresolved issues raised in the Auditor General\u2019s 2021 report.<\/div>\n
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The committee session is scheduled for Monday, June 16, 2025.<\/div>\n
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Recall that the Fiscal Responsibility Commission and the Auditor General for the Federation, in reports submitted to the joint committees, had accused several Ministries, Departments, and Agencies (MDAs), including the CBN, of failing to remit or under-remitting their operating surpluses as required by extant financial laws and regulations over the past six years.<\/div>\n
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In a letter co-signed by the Chairmen of the two committees, Rep. Bamidele Salam (Public Accounts) and Rep. Ademorin Kuye (Public Assets), the lawmakers requested that the Finance Minister and the CBN Governor provide comprehensive explanations regarding the remittance of the bank\u2019s operating surplus to the Federation Account, as stipulated by existing financial regulations.<\/div>\n
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Reports from both the Auditor General and the Fiscal Responsibility Commission indicate that numerous MDAs, including the CBN, have either failed to remit or have under-remitted their operating surpluses over the past six years, in violation of legal requirements.<\/div>\n
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Rep. Salam, Chairman of the Public Accounts Committee, noted that \u201csuch persistent breaches have drained federal resources and hindered the effective execution of national budgets approved by the legislature.\u201d<\/div>\n
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The joint committee stated that it had previously given both the Ministry of Finance and the CBN opportunities to reconcile their financial records and clarify their positions regarding the alleged liabilities. However, the upcoming hearing is expected to serve as a conclusive step toward resolving the outstanding issues.<\/div>\n
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The lawmakers are also probing audit findings which reveal that several public assets and fully funded projects remain incomplete and idle, years after contracts were awarded.<\/div>\n
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\u201cProjects located in Dutse, Abeokuta, and other parts of the country, awarded between 2011 and 2016, are still not in use despite full payment,\u201d the committees noted, referencing sections of the Auditor General\u2019s report.<\/div>\n
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