Reps to Grill Finance Minister, CBN Governor on June 16 Over

By Gloria Ikibah

The House of Representatives has invited the Minister of Finance, Olawale Edun, and Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, to a session scheduled for Monday, June 16, 2025.

The discussion will center around observations raised in the 2021 Auditor General’s report, particularly those relating to financial governance practices and adherence to statutory frameworks such as the Fiscal Responsibility Act of 2007.

In a letter jointly issued by the Chairmen of the House Committees on Public Accounts and Public Assets, Rep. Bamidele Salam and Rep. Ademorin Kuye, outlined the agenda. The correspondence indicates an interest in obtaining clarifications concerning the procedures and consistency of remittances of surplus funds by the CBN to the Federation Account, as stipulated under existing financial guidelines.

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Reports previously submitted by oversight institutions, including the Fiscal Responsibility Commission and the Office of the Auditor General, have pointed to discrepancies in remittances by a range of Ministries, Departments, and Agencies (MDAs). These findings suggest a potential pattern of shortfalls in compliance over the past six years, which the upcoming engagement seeks to address constructively.

According to the Public Accounts Committee Chairman, “these violations have negatively impacted the liquidity of the federal government and constitute a hindrance to effective implementation of the budgets passed by parliament.”

The Committes said it had given both the Finance Ministry and the apex bank ample opportunity to reconcile their accounts and present their positions in order to determine the degree of financial liabilities involved, hence the need for a final hearing to resolve the issues.

The Committee is equally looking at a report in the Auditor General for the Federation statutory report which suggests that a number of Public assets which had been fully paid for have not been completed and put into use for many years.

“Some of these projects in Dutse, Abeokuta and other locations were awarded between 2011 and 2016 but yet to be completed according to audit reports”