The Senate has ordered the appearance of the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL) and about 40 other Ministries, Departments and Agencies (MDAs) over allegations that they failed to account for public funds and repeatedly ignored invitations from lawmakers.
The resolution was reached on Wednesday, July 22, after the Senate Committee on Finance raised concerns over what it described as poor compliance with financial accountability laws.
Chairman of the committee, Senator Sani Musa, told lawmakers that the probe is part of the National Assembly’s constitutional responsibility to examine how government institutions manage public resources.
“As part of our constitutional mandate under Sections 88 and 89 of the Constitution, the Senate Committee on Finance conducts periodic investigative hearings to examine the financial operations of Government-Owned Enterprises and Ministries, Departments and Agencies,” Musa said.
According to him, the committee has been reviewing internally generated revenue, operating surpluses and statutory remittances into the Consolidated Revenue Fund, but several agencies have refused to cooperate.
“More concerning is that some have taken the position that they are under no obligation to appear before the committee or submit the requested information, notwithstanding the clear constitutional and statutory powers vested in the National Assembly to conduct oversight over the finances and administration of public institutions,” he added.
Musa further accused some agencies of violating the Fiscal Responsibility Act and the Finance Act 2022 by withholding government revenue.
“These are agencies that collect revenue for government, and the Fiscal Responsibility Act as well as the Finance Act 2022 direct that all Ministries, Departments and Agencies must comply with the financial regulations on remittances.
“Most of them don’t comply. Instead of remitting what is required by law, they retain the larger percentage of the revenue and remit only a fraction. We need to call them to order.”
He disclosed that some of the funds had allegedly been withheld since 2020.
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“We will request that they come for scrutiny so that the Fiscal Responsibility Commission can carry out reconciliation, after which we will require them to refund the money as quickly as possible. Some have been holding these funds since 2020.”
Backing the committee, Senate President Godswill Akpabio insisted that no government agency has the right to disregard invitations from the National Assembly.
“What we are talking about is that they are saying the Senate Committee does not have the power to invite them. But the Senate has the power.
“The National Assembly has the power. We have the powers enshrined in the Constitution to invite them,” Akpabio said.
He directed the committee to return with a substantive motion empowering the Senate to compel the agencies to appear.
“Come with a substantive motion. One of the prayers should be to compel them to appear before the National Assembly through your committee.”
Akpabio also warned that agencies refusing to honour the summons would face appropriate constitutional measures.
“If eventually they do not appear, we know the appropriate action to take.”
The Senate subsequently adopted the motion, paving the way for a formal summons to the affected institutions as lawmakers intensify efforts to improve transparency and accountability in the management of public funds.
Among the agencies to be summoned are the CBN, NNPCL, Federal Airports Authority of Nigeria, Nigerian Civil Aviation Authority, Nigerian Maritime Administration and Safety Agency, Office of the Accountant-General of the Federation, Nigerian Railway Corporation, Small and Medium Enterprises Development Agency of Nigeria, Nigerian Electricity Regulatory Commission and the Transmission Company of Nigeria.
Others include the Federal Mortgage Bank of Nigeria, Nigerian Agricultural Insurance Corporation, Nigerian Export-Import Bank, Nigerian Export Promotion Council, NNPCL Retail Limited, Nigerian Commodity Exchange, Nigerian Ports Authority, Standards Organisation of Nigeria, Nigerian Upstream Petroleum Regulatory Commission, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Joint Admissions and Matriculation Board, National Examinations Council, National Inland Waterways Authority, Nigeria Deposit Insurance Corporation, Nigerian Communications Satellite Limited, Nigeria Export Processing Zones Authority, Nigerian Shippers’ Council, Nigerian Meteorological Agency, National Insurance Commission, Nigeria Social Insurance Trust Fund and the National Oil Spill Detection and Response Agency