The House of Representatives has directed the Central Bank of Nigeria (CBN) to remit N3.64 trillion to the Federal Government within 14 days. This amount represents 70% of the bank’s N5.2 trillion unremitted operating surplus from 2016 to 2022.
The decision followed a joint committee hearing on public accounts and assets, where lawmakers grilled the CBN and Finance Minister Wale Edun over withheld surplus revenues and dormant funds.
The Committees accused the CBN of violating the Fiscal Responsibility Act and Finance Act, insisting that unclaimed dividends and dormant balances be transferred to the Unclaimed Funds Trust Fund.
“This House will enforce compliance. Public institutions must operate within the law.” — House Committee on Public Accounts
The House pledged to enforce compliance to ensure transparency and fiscal discipline.
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