Reps committee summons Cardoso, Edun over alleged non-compliance with Fiscal Responsibility Act

The public accounts committee chairman said that the violations had negatively impacted the liquidity of the federal government.

News Agency of Nigeria • June 14, 2025

Wale Edun and Cardoso

The Central Bank of Nigeria (CBN) Governor, Yemi Cardoso and the minister of finance, Olawale Edun, are to appear before the Joint House of Representatives committee on public accounts and public assets on Monday.

This is contained in a statement jointly issued by chairman of the committee, Rep. Bamidele Salam and his public assets counterpart, Rep. Ademorin Kuye, in Abuja on Saturday.

Messrs Cardoso and Edun are expected to make clarifications on allegations of non-compliance with the provisions of Fiscal Responsibility Act 2007.

They are also expected to make clarifications on internal control weaknesses identified in the 2021 reports by the auditor-general for the federation.

The two committees had jointly transmitted the invitation letter to the affected officials requesting them to provide details on remittances of operating surplus to the federation account by the apex bank, in line with the extant laws.

The Fiscal Responsibility Commission and the auditor-general for the federation had earlier submitted reports alleging that several MDAs, including CBN, had failed to remit or under-remitted their operating surplus as required by extant financial law in the last six years.

The public accounts committee chairman said that the violations had negatively impacted the liquidity of the federal government, thus constituting a hindrance to effective implementation of the budgets passed by the parliament.

The committee said it had given both the finance ministry and CBN ample opportunity to reconcile their accounts and present their positions in order to determine the degree of financial liabilities involved, hence the need for the final hearing to resolve the issues.

It also said it was looking at the auditor-general for the federation’s statutory report which suggested that a number of public assets, fully paid for, had not been completed and put into use for many years.

“Some of these projects in Dutse, Abeokuta and other locations were awarded between 2011 and 2016 but are yet to be completed, according to audit reports,” the committee said.

(NAN)

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