By Abiola Olawale
The Joint House of Representatives Committee on Public Accounts and Public Assets has summoned the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso.
Edu and Cardoso are expected to face scrutiny over serious allegations of non-compliance with the Fiscal Responsibility Act of 2007.
The duo is expected to appear before the committees on Monday, June 16, 2025, where they will address audit queries exposing internal control weaknesses flagged by the Office of the Auditor General for the Federation (oAuGF) in 2021.
The allegations stemmed from reports by the Fiscal Responsibility Commission and the Auditor General, which accused multiple Ministries, Departments, and Agencies (MDAs), including the CBN, of failing to remit or under-remit operating surpluses over the past six years.
In a letter signed jointly by the Chairmen, House Committee on Public Accounts Bamidele Salam and Chairman Committee on Public Assets Ademorin Kuye on Saturday, the Committee asked the Finance Minister and CBN Governor to provide details on remittance of operating surplus to the Federation Account by the apex bank in line with the provisions of relevant laws and regulations.
The Committees said it had given both the Finance Ministry and the apex bank adequate time to reconcile their accounts and present their positions 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 by the Auditor General if the Federation’s report alleging that several public assets, which had been fully paid for, have not been completed and put into use for many years.
