By Stephen Simon
The House of Representatives Public Accounts Committee (PAC) has directed the Office of the Accountant-General of the Federation (OAGF) to provide comprehensive details of outstanding operating surpluses and other revenues allegedly owed to the Federal Government by the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL) and other government-owned enterprises.
The directive was issued during an investigative hearing in Abuja attended by the Accountant-General of the Federation, Shamseldeen Ogunjimi, as part of the committee’s ongoing probe into compliance with the Fiscal Responsibility Act, which requires government-owned enterprises to remit portions of their operating surpluses into the Federation Account.
The committee also demanded explanations over allegations that the OAGF deducted funds from the statutory accounts of several Ministries, Departments and Agencies (MDAs), including the reported withdrawal of ₦15 billion from the Universal Basic Education Commission (UBEC). Lawmakers expressed concern that the deductions may have affected the ability of the affected agencies to carry out their statutory responsibilities.
During the hearing, members of the committee questioned officials on the status of outstanding remittances by major government agencies, stressing that poor compliance with revenue remittance obligations continues to undermine the country’s fiscal position. They insisted that all agencies must fully account for public funds in line with existing financial regulations.
Responding to the lawmakers, Director of Revenue and Investment at the OAGF, Makinde Mogaji, disclosed that the CBN alone allegedly owed the Federal Government about ₦5.3 trillion in unremitted operating surplus. He said repeated efforts to recover the funds had yet to yield the desired result, while records relating to other government-owned enterprises were still being reconciled.
The Accountant-General defended the temporary withdrawal of funds from some MDA accounts, explaining that the practice was aimed at meeting urgent government obligations and that the monies were expected to be refunded. However, members of the committee maintained that such transactions must comply with the law and should not disrupt the operations of statutory agencies.
The committee directed the OAGF to submit all relevant documents on the outstanding liabilities and questioned deductions before its next sitting, warning that any agency found to have failed in its statutory remittance obligations would be held accountable. The investigation forms part of the House of Representatives’ broader efforts to strengthen transparency, improve revenue collection and enhance accountability in the management of public finances.
