Senate has resolved to summon the Central Bank of Nigeria, the Nigerian National Petroleum Company Limited and around 40 other Ministries, Departments and Agencies for allegedly failing to account for public funds and remit revenues.
The decision followed a motion by Senate Committee on Finance Chairman Sani Musa, who accused the agencies of frustrating legislative oversight by ignoring invitations to appear before the panel probing revenue remittances and compliance with financial laws.
Musa stressed the committee’s constitutional authority, citing Sections 88 and 89 of the 1999 Constitution.
“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,” he said.
The probe focuses on internally generated revenues, operating surpluses and statutory remittances into the Consolidated Revenue Fund. Many agencies have either refused to appear or withheld information, according to the senator.
“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,” Musa added, warning that such defiance undermines legislative oversight and fiscal accountability.
He further accused some revenue-generating bodies of violating the Fiscal Responsibility Act and the Finance Act 2022 by retaining most of their collections instead of remitting required portions to the Federation Account, with some funds withheld since 2020.
Senate President Godswill Akpabio backed the move, affirming the National Assembly’s powers.
“The National Assembly has the power. We have the powers enshrined in the Constitution to invite them,” Akpabio said, directing the committee to bring a substantive motion to compel appearances.
Affected agencies include the Federal Airports Authority of Nigeria, Nigerian Ports Authority, Nigerian Civil Aviation Authority, Transmission Company of Nigeria and several others involved in revenue generation and regulation.
The Senate adopted the motion by voice vote, signalling a push to enforce compliance and recover outstanding funds.
