Associates Summon Finance Minister, CBN Gov Over Audit Queries, Breach of Fiscal Laws
By Tracy Moses The Joint Committee on Public Accounts and Public Assets of the House of Representatives have actually summoned the Minister of Financing, Mr. Adebayo Olawale Edun, and the Governor … The post Representatives Summon Financing Minister, CBN Gov Over Audit Queries, Breach of Fiscal Laws appeared first on Pointblank News.
By Tracy MosesThe Joint Committee on Public Accounts and Public Assets of your house of Representatives have summoned the Minister of Financing, Mr. Adebayo Olawale Edun, and the Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, to appear before them over alleged offenses of the Financial Duty Act, 2007, and unsettled concerns raised in the Auditor General’s 2021 report.The committee session is scheduled for Monday, June 16, 2025. Recall that the Fiscal Duty Commission and the Auditor General for the Federation, in reports sent to the joint committees, had actually implicated a number of Ministries, Departments, and Agencies (MDAs), including the CBN, of stopping working to remit or under-remitting their operating surpluses as required by extant financial laws and policies over the past six years.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 asked for that the Finance Minister and the CBN Guv offer thorough explanations concerning the remittance of the bank’s operating surplus to the Federation Account, as specified by existing financial regulations.Reports from both the Auditor General and the Fiscal Duty Commission indicate that various MDAs, consisting of the CBN, have either stopped working to remit or have under-remitted their operating surpluses over the previous 6 years, in offense of legal requirements.Rep. Salam, Chairman of the Public Accounts Committee, kept in mind that “such relentless breaches have drained pipes federal resources and prevented the effective execution of nationwide spending plans authorized by the legislature.”The joint committee specified that it had previously given both the Ministry of Finance and the CBN chances to reconcile their financial records and clarify their positions concerning the alleged liabilities. The upcoming hearing is expected to serve as a conclusive action toward resolving the outstanding issues.The legislators are also penetrating audit findings which expose that several public possessions and fully financed jobs remain incomplete and idle, years after contracts were awarded.”Projects located in Dutse, Abeokuta, and other parts of the country, granted between 2011 and 2016, are still not in use despite full payment,” the committees noted, referencing areas of the Auditor General’s report.The post Reps Summon Financing Minister, CBN Gov Over Audit Queries, Breach of Fiscal Laws appeared first on Pointblank News.
