The House of Representatives Committees on Public Accounts and Public Assets has summoned Minister of Finance, Olawale Edun, and the Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso to appear before it on Monday over alleged violations of fiscal laws.
The lawmakers are investigating failures by government agencies, including the CBN, to remit operating surpluses to national accounts as required by law.
Audit reports from 2021 also revealed internal control weaknesses as several MDAs were accused of under-remitting their operating surpluses as required by extant financial laws and regulations over the last six years.
In a letter jointly signed by the Chairmen of the House Committee on Public Accounts, Bamidele Salam, and the Committee on Public Assets, Ademorin Kuye, the lawmakers noted these financial breaches have affected government liquidity and budget implementation.
The committees stated that both the Finance Ministry and the apex bank had been given 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.