Senate accuses, summons CBN, NNPC, NIMASA, 44 other agencies for failing to remit public funds

The senate has accused the Central Bank of Nigeria (CBN), Nigerian National Petroleum Company (NNPC) Limited, Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and 43 other ministries, departments and agencies (MDAs) of failing to remit revenues due to the federation account in line with extant financial laws.

The upper legislative chamber subsequently directed the 47 agencies to appear before its committee on finance to explain the alleged revenue shortfalls and other financial infractions.

The resolution followed the adoption of a motion sponsored by Sani Musa, senator representing Niger east, who alleged that several revenue-generating agencies had failed to remit operating surpluses as required under the Fiscal Responsibility Act, 2007, and other relevant laws.

Musa said the agencies had also repeatedly ignored invitations from the senate committee on finance, thereby frustrating legislative oversight and accountability.

The lawmaker said the alleged non-remittance of public funds had deprived the federal government of much-needed revenue and undermined fiscal transparency.

On his part, Senate President Godswill Akpabio dismissed claims by some agencies that the senate committees lacked the constitutional authority to summon them.

Akpabio said the national assembly was empowered by the constitution to conduct oversight of all agencies handling public funds and warned that those who failed to honour invitations would face appropriate sanctions.

47 AGENCIES TO APPEAR BEFORE FINANCE COMMITTEE

The agencies listed for appearance include the CBN, Computer Professionals (Registration Council of Nigeria) (CPN), Federal Airports Authority of Nigeria (FAAN), Federal Medical Centre, Jabi, Federal Mortgage Bank of Nigeria (FMBN), Federal Radio Corporation of Nigeria (FRCN), Industrial Training Fund (ITF), Institute of Agricultural Research and Training, Joint Admissions and Matriculation Board (JAMB), National Agency for Science and Engineering Infrastructure (NASENI), National Examinations Council (NECO), and National Hajj Commission of Nigeria (NAHCON).

Others are the National Inland Waterways Authority (NIWA), National Insurance Commission (NAICOM), National Space Research and Development Agency (NASRDA), Nigeria Agricultural Quarantine Service (NAQS), Nigeria Deposit Insurance Corporation (NDIC), Nigeria Integrated Water Resources Management Commission, Nigeria Reinsurance Corporation (Nigeria Re), Nigeria Social Insurance Trust Fund (NSITF), Nigerian Agricultural Insurance Corporation (NAIC), Nigerian Airspace Management Agency (NAMA), Nigerian Civil Aviation Authority (NCAA), and Nigerian Commodity Exchange.

The list also includes Nigerian Communications Satellite Limited (NIGCOMSAT), Nigerian Electricity Regulatory Commission (NERC), Nigerian Export-Import Bank (NEXIM), Nigerian Export Promotion Council (NEPC), Nigeria Export Processing Zones Authority (NEPZA), NIMASA, Nigerian Meteorological Agency (NiMet), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), NNPC, NNPC Retail Limited, NPA, and Nigerian Railway Corporation (NRC).

Also listed are the Nigerian Shippers’ Council (NSC), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Office of the Accountant-General of the Federation (OAGF), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Sokoto Rima River Basin Development Authority (SRRBDA), Standards Organisation of Nigeria (SON), Transmission Company of Nigeria (TCN), and Veterinary Council of Nigeria (VCN).

The senate directed the committee on finance to engage the concerned agencies and report back to the chamber with its findings and recommendations.