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Reps In Rowdy Session, Summons CBN Governor Cardoso Over Non Remittance of N16trn
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By Gloria Ikibah
The House of Representatives went into dispute on Wednesday during plenary after revelations emerged that the Central Bank of Nigeria (CBN) had allegedly withheld more than N5.2 trillion in operating surplus and over N11 trillion generated through the Remita payment platform.
Lawmakers responded by summoning the CBN Governor, Olayemi Cardoso, to appear before the chamber or risk formal sanctions.
The controversy erupted after a motion was raised by the Chairman of the House Public Accounts Committee (PAC), Rep. Bamidele Salam, who briefed members on the committee’s ongoing scrutiny of the Auditor-General’s 2022 report and its investigation into Remita revenue collections between March 2015 and April 2016.
Rep. Salam told the House that the review had revealed troubling financial discrepancies attributed to the apex bank. The committee found that the CBN had failed to remit N5.2 trillion in operating surplus for the period covering 2016 to 2022. It also uncovered that the bank had collected N954.3 million in charges that should have been refunded but had not returned any portion of the funds.
With interest applied at the Monetary Policy Rate of 27.25%, the value of the unrefunded charges has risen to N3.28 billion.
Salam added that there was a substantial mismatch between figures provided by the CBN and those uncovered by the committee’s investigation, deepening lawmakers’ concerns over the handling of public funds.
“The CBN reported that its total Remita collections amounted to N8.7 billion, but based on the data they themselves presented to us, our analysis showed N19.8 billion. That leaves a gap of N11.09 trillion. These numbers are not in dispute,” he submitted.
He urged the House to take firm action, citing the constitutional backing of PAC under Sections 85(5), 88, and 89 of the 1999 Constitution.
Following this revelations, the House was sharply divided with some lawmakers calling for the immediate summons of the CBN governor and accusing the bank of repeatedly shunning PAC invitations.
Rep. Sada Soli (APC, Katsina) condemned the pattern, as he said, “This degree of non-compliance is unacceptable to this parliament and to Nigerians. A committee of this House cannot be disregarded on an issue involving trillions of naira.”
Similarly, Rep. Ahmadu Jaha (APC, Borno) said:
“The CBN governor has failed to honour PAC’s invitations several times. That is a direct challenge to the Constitution. If we allow this, we weaken the authority of parliamentary oversight.”
Other lawmakers however opposed the plan to expand or transfer the probe, warning that creating additional committees will downplay the constitutionally assigned role of PAC.
Consequently, the House became rowdy with some lawmakers shouting and others attempting to disrupt the sitting by multiple calls for point of order and moving from their seats thereby giving Speaker Tajudeen Abbas a tough time to restore order.
Speaker Abbas was forced to caution lawmakers said: “Honourable colleagues, we must not allow emotions to overshadow the weight of this matter. We must conduct ourselves responsibly. This issue goes to the heart of the nation’s financial credibility.”
Abbas informed that the House leadership had earlier explored the idea of forming a special ad hoc committee comprising PAC and other finance-related committees. That proposal, however, was rejected on the grounds that it will dilute the constitutional mandate of PAC.
After series of exchanges, the idea of a joint committee was formally abandoned.
Rep. Ahmed Jaha thereafter proposed an amendment reaffirming PAC as the sole committee authorized to lead the investigation.
“PAC remains the guardian of financial accountability in this Parliament.
“We cannot weaken its authority. The CBN Governor must appear before PAC, without exception,” he argued.
The amendment was seconded and approved through a voice vote, even as some lawmakers objected.
Following this, the House formally summoned the CBN Governor, Olayemi Cardoso, to appear before the Public Accounts Committee to answer for the alleged non-remittances, revenue discrepancies, and unaccounted funds.
Ruling on the matter, Abbas said “Let it be known: if the CBN fails to honour this summons, the House will not hesitate to invoke its full constitutional powers to enforce compliance.”
News
Emir of Gumel dies in Egypt
The Emir of Gumel in Jigawa State, Alhaji Dr. Ahmed Muhammad Sani II, has died.
The monarch passed away on Thursday in Egypt.
His death has thrown the people of the Gumel Emirate and residents of Jigawa State into mourning, with tributes expected to continue to pour in from across the state and beyond.
The death of the respected traditional ruler is a significant loss to his family, associates and the entire Gumel community. Prayers have been offered for Almighty Allah to forgive his shortcomings and grant him eternal rest in Aljannatul Firdaus.
Prayers were also offered for Allah to grant his family, loved ones and the people of Gumel the strength and patience to bear the loss.
The death of the Emir represents a major loss to the Gumel Emirate, given the important role traditional institutions play in promoting peace, unity, cultural values and community development.
The Gumel Emirate is one of the historic traditional institutions in northern Nigeria, with a rich heritage and longstanding influence in the social and cultural affairs of its people.
As Emir, the late Alhaji Dr. Ahmed Muhammad Sani II, CON, served as custodian of the traditional institution and provided leadership to the people of the emirate.
His passing is expected to be deeply felt by members of the royal family, traditional title holders, community leaders and residents across the emirate.
News
US Federal agents nab Podcaster Azariah over alleged threats to Kill Trump
United States federal agents have nabbed a podcaster, Azariah Southworth, in Los Angeles over allegations that he threatened to kill US President Donald Trump.
According to New York Post on Thursday, Southworth was taken into federal custody in Los Angeles following an investigation into the alleged threats against Trump.
Southworth is known for hosting the Yass, Jesus podcast and previously hosted the Christian television programme, The Remix. His arrest has brought federal authorities’ attention to statements allegedly made by him concerning the president.
The allegations against Southworth have not been established in court, and details of any criminal charges filed against him were not immediately available in the report. Federal authorities typically investigate threats against the president as potential federal offences.
US law prohibits knowingly and willfully threatening to kill, kidnap or inflict bodily harm on the president. Such cases can result in federal prosecution if investigators determine that a statement meets the legal threshold for a criminal threat.
Federal authorities have pursued similar cases involving alleged threats against Trump in recent years.
The US Department of Justice has previously announced charges and convictions involving people accused of making threats against the president online and through other forms of communication.
Authorities have also stressed in previous cases that an arrest or criminal charge does not establish guilt. Prosecutors are required to prove the allegations in court, while defendants are presumed innocent unless convicted.
Southworth’s arrest comes amid continued security concerns surrounding threats against Trump and other US public officials. Further details about the allegations, possible charges and Southworth’s next court appearance are expected to emerge as the federal case proceeds.
News
Flooding: FCTA begins desilting of drains, warns against vandalism, illegal structures
The Federal Capital Territory Administration (FCTA) has commenced a city-wide desilting of drainage channels following heavy torrential rainfalls that triggered flash floods across parts of the nation’s capital.
Inspecting the ongoing clearance operations along the Airport Expressway on Thursday, Mr Richard Dauda, acting Executive Secretary of the Federal Capital Development Authority (FCDA), said the exercise was directed by the FCT Minister, Mr Nyesom Wike.
The directive followed a flash flood that flooded the Airport Expressway on Tuesday.
According to Dauda, the effort is to mitigate flood risks during the peak of the rainy season.
Dauda noted that while recent downpours align with earlier meteorological warnings and climate change trends, the Abuja Master Plan inherently recognises certain areas, including the Airport Expressway axis as flood plains.
He assured residents that while resilient infrastructure was originally built to handle high water volumes, human activities have severely compromised its efficiency.
“Some of these drainage facilities over time have been silted. Part of the cause is residents dumping refuse into drainage channels.
“When rain falls, it washes down polythene bags, waste, and even large objects that block the outlets,” he said.
Dauda highlighted two major human factors aggravating the flash floods: illegal development and widespread infrastructure vandalism.
Exposing a major choke point along the expressway, Dauda pointed to a triple-cell box culvert meant to discharge a powerful stream flowing from the Galadima Roundabout.
He explained that a private developer had illegally constricted the waterway further downstream by constructing retaining walls to expand a personal plot.
“What that causes is that the volume of water that ought to pass no longer passes, causing detention, backflow, and eventual flooding.
“To restore adequate discharge capacity, we must remove the structures built by this developer,” he said.
Dauda also decried the theft of metal gully inlet covers by vandals, which allows large debris to flow directly into underground drains instead of being sieved at the surface.
“When vandals steal these covers, it’s like stealing from yourself as a taxpayer,” he remarked.
To permanently curb the theft, he revealed that the FCDA is exploring replacement materials made from non-recyclable compounds rather than steel or cast iron.
The FCDA boss confirmed that workers were already desilting trapezoidal drains, U-channels, and culvert outlets along the Airport Expressway, with plans to reconstruct damaged points where necessary.
Dauda urged Abuja residents to stop dumping refuse into waterways, warning that government infrastructure can only protect the city if public cooperation is guaranteed.
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