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…as PAC intensify crackdown on revenue leakages

By Gloria Ikibah

The House of Representatives Public Accounts Committee (PAC) has recovered N521,765,134.17 in unremitted Value Added Tax (VAT) from the Central Bank of Nigeria (CBN), marking another milestone in its ongoing investigation into revenue leakages and unremitted government funds.

The recovery emerged from a wide-ranging probe into transactions conducted through the Remita payment platform, an investigation launched following a resolution of the House of Representatives on a motion titled “Investigation of Revenue Leakages Through Remita Platform and Non-Compliance Substantively with Standard Operating Procedure and Other Allied Service Level Agreement.”

The House subsequently mandated the Public Accounts Committee to investigate the allegations and recover all outstanding funds due to the Federal Government.

Under the leadership of Committee Chairman, Rep. Bamidele Salam, the panel has undertaken an extensive review of financial transactions, remittances and compliance obligations linked to the Remita platform, with a focus on identifying revenue leakages and ensuring accountability in government revenue collection.

According to findings by the committee, the Central Bank of Nigeria failed to remit VAT amounting to N521,765,134.17, representing the tax component on fees earned from Remita transactions over a period spanning November 2018 to April 2024.

Following the discovery, the committee directed the apex bank to remit the outstanding amount into the Federal Government Treasury and provide evidence of compliance.

In a letter dated May 7, 2026, the CBN informed the committee that it had complied with the directive and submitted documentation confirming that the entire sum had been paid into government coffers.

Speaking on the recovery, Chairman of the Committee, Rep. Bamidele Salam, said the development underscored the importance of legislative oversight in protecting public funds and promoting accountability across public institutions.

According to him, the recovery demonstrates the effectiveness of parliamentary oversight in safeguarding government revenue and ensuring that all agencies comply with their statutory obligations.

He reiterated the committee’s determination to recover every kobo owed to the Federal Government and close loopholes that enable revenue leakages within public institutions.

The committee disclosed that its engagement with the Central Bank remains ongoing, particularly regarding the reconciliation and recovery of additional outstanding liabilities identified during the investigation.

Among the amounts still under review are unrefunded charges valued at N954,302,576.67 and accrued interest of N2,329,027,728.92, bringing the total recoverable amount in that category to N3,283,330,305.59 for the period between March 1 and October 31, 2015.

The committee is also pursuing the recovery of unrefunded Treasury Single Account (TSA) collections amounting to N8,993,551,555.94, alongside accrued interest estimated at N20,727,241,152.04.

Together, the outstanding TSA-related liability stands at N29,720,792,707.98.

With additional sums still being scrutinised, the total amount under investigation runs into tens of billions of naira.

The Public Accounts Committee said it will continue its hearing into the matter on Monday, June 8, 2026, at the National Assembly Complex in Abuja as efforts intensify to recover outstanding public funds and strengthen financial accountability across government institutions.

The latest recovery adds to a growing list of funds reclaimed by the committee as part of its ongoing drive to ensure transparency, improve revenue collection and prevent losses to the nation’s treasury.

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Three months after, the Joint Task Force (North East), Operation HADIN KAI (OPHK), have rescued 360 abductees from a heavily fortified Jama’atu Ahlis Sunna Lidda’awati wal-Jihad (JAS) enclave in the Mandara Mountains area of southern Borno State.

Also, Borno State Governor, Professor Babagana Zulum, has commended the Nigerian military, particularly troops of Operation HADIN KAI, for rescuing 360 abductees from the Mandara Mountains, a notorious terrorist enclave in the southern part of the state.

The military described the operation as one of the most significant hostage rescue missions conducted in the North-East theatre in recent times.

This was disclosed in a statement by the Acting Media Information Officer, Headquarters Joint Task Force (North East) Operation HADIN KAI, Lieutenant Colonel Haruna M. Sani.

According to him, the operation was the culmination of weeks of intelligence gathering, covert reconnaissance, and operational planning, resulting in the safe recovery of men, women, and children who had been held in captivity under harsh conditions after being abducted from several communities, particularly within the Ngoshe axis.

The successful rescue underscores the growing operational reach, intelligence dominance, and tactical superiority of OPHK in denying terrorists freedom of action and protecting vulnerable populations across the theatre,” the statement said.

Lieutenant Colonel Sani stated that the operation was initiated following credible and corroborated intelligence from multiple sources indicating the precise location of the hostages and the existence of an elaborate insurgent support network sustaining the enclave.

He added that OPHK intelligence elements subsequently launched an extensive target development process involving the integration of Human Intelligence (HUMINT), Signals Intelligence (SIGINT), and persistent Intelligence, Surveillance and Reconnaissance (ISR) operations conducted through unmanned aerial systems and long-range reconnaissance patrols.

Through sustained intelligence collection and analysis, commanders developed a comprehensive understanding of the terrain, insurgent disposition, defensive arrangements, movement patterns, and the condition of the abductees. This intelligence-driven approach enabled the force to accurately map the objective area, identify vulnerabilities within the terrorist network, and significantly reduce risks to the hostages during the rescue mission.

“A decisive breakthrough was achieved through the successful penetration of the terrorist network by carefully cultivated intelligence assets operating under the supervision of OPHK military intelligence personnel. These assets provided timely and actionable intelligence regarding the exact locations of the abductees, the disposition of insurgent commanders, internal security measures, and planned relocation routes.

“Simultaneously, carefully coordinated information and psychological operations created uncertainty and mistrust within the insurgent ranks, degrading their cohesion and disrupting command and control arrangements.

“The resulting intelligence advantage provided OPHK with unprecedented situational awareness and enabled commanders to shape the operational environment well before the commencement of the assault phase.

Acting on confirmed intelligence, OPHK Special Forces and troops of Sector 1 launched a meticulously coordinated multi-axis operation designed to isolate the objective area, dominate key terrain, and prevent insurgent reinforcement or withdrawal. Supported by real-time ISR feeds, assault forces infiltrated the objective area under the cover of darkness while blocking forces established positions along likely escape routes.”

Simultaneously, carefully coordinated information and psychological operations created uncertainty and mistrust within the insurgent ranks, degrading their cohesion and disrupting command and control arrangements.

“The resulting intelligence advantage provided OPHK with unprecedented situational awareness and enabled commanders to shape the operational environment well before the commencement of the assault phase.

“Acting on confirmed intelligence, OPHK Special Forces and troops of Sector 1 launched a meticulously coordinated multi-axis operation designed to isolate the objective area, dominate key terrain, and prevent insurgent reinforcement or withdrawal. Supported by real-time ISR feeds, assault forces infiltrated the objective area under the cover of darkness while blocking forces established positions along likely escape routes.”

The statement added that the operation achieved complete tactical surprise, overwhelming the terrorists before an organised response could be mounted.

“Faced with the speed, precision, and overwhelming combat power of the advancing troops, several insurgents abandoned their positions and fled into surrounding mountainous terrain, while others surrendered. The hostages were swiftly secured, medically screened, and evacuated from the objective area.

“Regrettably, two infants succumbed to exhaustion occasioned by the extremely challenging mountainous terrain and the hardships endured during their prolonged captivity. The remaining rescued abductees were successfully evacuated to safe locations for medical care and humanitarian support, marking a major operational success and a significant setback for the terrorist group.”

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The presidency has cautioned Nigerians against comparing the kidnapping incidents involving the relatives of a former Minister of Power, Adebayo Adelabu, and those of schoolchildren and teachers in Ogbomoso, Oyo State.

In a statement on Sunday, the Senior Special Assistant to President Bola Tinubu on Media and Publicity, Temitope Ajayi, explained that the motivations and agendas behind the two kidnapping incidents are entirely different.

According to him, urban kidnappers who want to make money are responsible for the Adelabu family episode, while a band of terrorists operating deep inside the bush are responsible for the kidnapping of schoolchildren, which happened in Orire Local Government Area of Oyo State.

The presidential media aide, who spoke against the backdrop of calls for the government to move swiftly and rescue the schoolchildren in captivity, just like the Adelabu relatives were rescued, assured that the government and security agencies are not being selective, as claimed in some quarters.

He reiterated that the two situations are different and that those accusing the government of being selective are totally wrong.

Ajayi also gave fresh assurances that the children and teachers in the bush will be rescued very soon.

“Those who are comparing the Adelabu’s sister and her twins situation to the Ogbomoso kids and their teachers are totally wrong.

“It is wrong to compare the urban gang of kidnappers who engage in copycat crime to make money and hide victims inside a flat within the community to a band of terrorists operating deep inside the bush. The two sets of criminals have different motivations and agenda.

“The Ogbomoso children and their teachers will be rescued, and government/security agencies are not selective, as falsely claimed. The approach to the two incidents can’t be the same.

“We should be happy that the woman and his twins are safely home while we pray for quicker rescue of those still in the bush with their abductors,” he wrote on 𝕏.