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Reps Set Deadline for CBN to Resolve N5.2trn Remittance Dispute With Finance Ministry
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By Gloria Ikibah
The House of Representatives Committee on Public Accounts has set a firm deadline for the Central Bank of Nigeria to wrap up its reconciliation process with the Ministry of Finance and the Fiscal Responsibility Commission over alleged failures to remit revenues to the Federal Account.
The directive was issued on Tuesday by the committee’s chairman, Rep. Bamidele Salam, after the apex bank asked for additional time to appear before the panel, following a House resolution summoning the CBN governor.
Salam explained that the House, at plenary on Wednesday, 10 December 2025, had resolved to compel the CBN governor to appear before the committee to conclude a hearing that began during a joint sitting of the Committees on Public Accounts and Public Assets.
He noted that the probe stems from prolonged exchanges between the National Assembly, the CBN, the Ministry of Finance and other relevant agencies over alleged breaches of the 1999 Constitution and the Fiscal Responsibility Act.
According to him, reports from the Fiscal Responsibility Commission, the Office of the Attorney-General of the Federation and a special audit carried out by consultants indicate that the CBN allegedly failed to remit about ₦5.2 trillion in operating surplus to the Consolidated Revenue Fund between 2015 and 2022.
He added that the findings also point to other outstanding remittances, including about ₦954.3 million linked to the transition to the Treasury Single Account, discrepancies estimated at ₦11.09 billion, an additional ₦2.686 trillion uncovered during the migration of federal government balances, as well as ₦521.7 million in Value Added Tax on remittance transactions.
Salam said the CBN, in a letter dated Dec. 15, 2025, requested additional time to respond and appear before the committee, citing the volume of information required and an ongoing reconciliation exercise with the Ministry of Finance.
Speaking on the reconciliation process, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, described federal government revenue as central to governance, budgeting and public investment.
“Federal government revenue is a critical aspect of government operations, budgeting, financing and investment in public assets,” Edun said.
He noted that reconciliation between fiscal and monetary authorities was a continuous process but acknowledged the need for a clear framework and timeline.
“We need clarity and accuracy in both fiscal and monetary management. That is where transparency and accountability are seen, and it is also what rating agencies look at in assessing our financial position,” he said.
Edun also reaffirmed the Federal Government’s respect for the National Assembly and its oversight role.
The committee also heard from members on the need to balance accountability with fair hearing.
Contributing, Rep. Ademorin Kuye, urged the House to allow the CBN additional time to appear, stressing that the reconciliation must be concluded within a defined timeframe.
“We are concerned that the 2025 budget is based largely on expected revenues, and we do not want this issue to drag on unnecessarily,” Kuye said.
He noted that the House was required to submit its findings to plenary before the end of January 2026 and therefore needed to ensure that all parties were properly heard.
“The reconciliation should involve the Fiscal Responsibility Commission and the Office of the Auditor-General for the Federation. The CBN and the Ministry of Finance remain the principal parties,” he added.
Presenting the position of the Fiscal Responsibility Commission, Mr. Charles Abeta, who led the FRC delegation and represented the Chairman of the Commission, acknowledged longstanding challenges in engagements between the Commission and the CBN.
“The history of engagement between the Commission and the CBN has not always been smooth,” Abeta said.
He, however, welcomed the opportunity provided by the committee to engage constructively on the matter and expressed the Commission’s readiness for dialogue.
“We are very keen on having a sit-down with the CBN to address any outstanding issues relating to remittances and compliance,” he said.
Abeta explained that the Commission’s effectiveness had previously been hampered by weak enforcement powers but noted that recent legal amendments had strengthened its mandate.
“With the amendment to the Fiscal Responsibility Act through the Finance Act 2020, particularly the provisions empowering the Minister of Finance to enforce remittances directly from source, there is now a clearer enforcement window,” he said.
He added that while the Commission had historically lacked the capacity to compel compliance from defaulting agencies, the revised legal framework now provided an opportunity for improved enforcement.
“This reconciliation process gives the committee a basis to issue clear directives and ensure compliance going forward,” Abeta said.
The committee subsequently fixed Jan. 19, 2026, as the deadline for submission of reconciliation reports and Jan. 26, 2026, for the personal appearance of the CBN Governor before the committee.
Salam said the final hearing would hold on Monday, Jan. 26, 2026, at 10 a.m., after which the committee would present its findings and recommendations to the House plenary.
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Cholera Outbreak: Plateau Records 5 Deaths, 11 Confirmed Cases
Plateau State commissioner for Health, Dr Nicholas Baamlong, has revealed that the state recorded 11 confirmed cases of cholera, five deaths and 53 suspected cases.
Baamlong, who disclosed this to journalists yesterday in Jos, said the confirmed and suspected cases were reported in Pushit, Mangu 1 and Mangu 2 communities in Mangu local government area (LGA).
According to him, the state Ministry of Health is intensifying public health interventions to contain the outbreak, prevent further spread and reduce its impact on affected communities.
He explained that the state had taken decisive actions to control the outbreak and protect its citizens via the deployment of additional Response Teams (RRTs) to the affected wards, scaling up of treatment centres and isolation capacity and the emergency procurement of Rapid Diagnostic Tests Kits, intravenous fluids and essential drugs.
The Commissioner further said that the ministry had activated an Incident Management System (IMS), for a comprehensive and multi sectorial response to the outbreak.
“The activation of the IMS ensures a coordinated, efficient, and accountable response structure in line with national and international emergency response frameworks,” he said.
Baamlong explained that cholera was an acute diarrhoeal disease caused by consuming food or water contaminated with the bacterium Vibrio cholerae.
He urged residents of Mangu LGA and neighbouring communities to remain vigilant and take preventive measures, including drinking safe water, maintaining proper hand hygiene, avoiding open defecation, and ensuring proper waste disposal.
He also advised residents to promply report suspected cases of cholera to the nearest healthcare facility for immediate attention.
While reaffirming the state government’s commitment to safeguarding the health and well-being of residents, Baamlong called on development partners and other stakeholders to support ongoing response efforts.(NAN)
News
South Africa says 2,745 foreigners sent home in a week
South Africa has repatriated 2,745 foreigners in the week after President Cyril Ramaphosa vowed tougher action against illegal immigration, the country’s home affairs minister said on Sunday.
One of Africa’s largest economies, South Africa has long attracted migrant workers from across the continent, both legally and illegally.
But saddled with an unemployment rate above 30 percent, it has experienced recurring spurts of anti-immigrant unrest, including fresh violence in recent weeks.
Mobs of South Africans carrying sticks, whips and shields have marched through parts of the country ordering foreigners with no residency papers to leave by June 30.
Growing security fears after businesses were looted and foreigners targeted have prompted citizens of Nigeria, Malawi, Ghana, Zimbabwe and Mozambique to accept voluntary repatriation organised by their governments.
“As of last night, the number we can report is 2,745 repatriations that have come in this period since the president spoke,” Home Affairs Minister Leon Schreiber told reporters.
“It is a moving target,” he said.
The government said most of those repatriated were in the country illegally.
They include Malawian nationals, about 7,000 of whom have been sheltering in an open field in the eastern port city of Durban, according to an inter-ministerial migration committee set up after the president’s address.
Eight buses commissioned by the Malawian government began moving its citizens on Sunday, with South Africa providing 10 additional buses to speed up deportations, the committee said.
Some 560 people, including about 200 children, took the journey on Sunday, Malawi Consul General Max Biwi said.
Among those boarding the first buses, some carried babies on their backs and small bags of belongings.
“I’m relieved we are finally leaving. It’s better than living in fear here,” said Fortunate Chilenje from Blantyre, Malawi’s commercial capital.
The 25-year-old had lived in South Africa for three years, she told AFP, adding that threats to leave had followed her even at the camp, one of the largest to emerge since the unrest began.
The government said on Sunday it did not operate refugee camps and had no intention of establishing them, even on a temporary basis.
Another passenger, Laina Nala from Mangochi in southern Malawi, said she simply wanted to be dropped as close to her home as possible, rather than continuing on to Blantyre.
“Blantyre is too far and expensive from there,” she said.
For Hassan Hasha, 27, a debt linked to his journey to South Africa still hung over his head.
He said he had barely stayed in South Africa for weeks before the anti-foreigner sentiment flared, but added: “I have resigned myself to going home”.
Last week, Ramaphosa acknowledged public concerns over illegal immigration but warned that the authorities would not tolerate anyone taking the law into their own hands.
Tensions escalated after two Mozambicans were killed following a May 29 march against illegal migrants in the Western Cape town of Mossel Bay. Mozambican authorities put the toll at five.
There are more than three million foreigners living in South Africa, or 5.1 percent of the population, according to the statistics agency.
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