Reps summon Finance Minister, CBN Governor over alleged fiscal responsibility violations

The Joint House of Representatives Committees on Public Accounts and Public Assets have summoned the Minister of Finance, Wale Edun, and the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to appear before them on Monday to address allegations of breaching the Fiscal Responsibility Act, 2007.

According to a statement signed by the committees’ chairmen, Bamidele Salam and Ademorin Kuye, the two top officials are expected to explain the remittance status of operating surpluses to the Federation Account by the apex bank, in line with financial regulations.

The summons followed reports from the Fiscal Responsibility Commission and the Office of the Auditor-General for the Federation, which indicted several Ministries, Departments, and Agencies, including the CBN, for either failing to remit or under-remitting their operating surpluses over the last six years.

The lawmakers said both Edun and Cardoso were given enough time to reconcile their accounts and clarify their positions, adding that the final hearing would now resolve outstanding issues.

The committees are also investigating an audit report that highlighted the abandonment of several government projects across Dutse, Abeokuta, and other locations, which were reportedly awarded between 2011 and 2016 but remain incomplete despite full payment.