Senate Summons CBN, NNPCL, 40 MDAs Over Alleged Revenue Remittance Failures
The Nigerian Senate has resolved to summon the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL), and about 40 other Ministries, Departments and Agencies (MDAs) over alleged failure to honour invitations relating to a probe into government revenue management.
The decision followed a motion raised by the Chairman of the Senate Committee on Finance, Senator Sani Musa, who accused some government agencies of frustrating legislative oversight by refusing to appear before the committee to account for public funds.
Musa said the investigation was part of the Senate’s constitutional responsibility under Sections 88 and 89 of the 1999 Constitution, which empowers the National Assembly to examine the finances and operations of public institutions.
He said the committee was reviewing issues including internally generated revenue, operating surpluses, statutory remittances, and compliance with provisions of the Fiscal Responsibility Act and other financial regulations.
The senator expressed concern that some agencies had either ignored repeated invitations or argued that they were not required to appear before the committee.
According to him, such actions weaken accountability and undermine the constitutional authority of the legislature to oversee public finances.
Musa further alleged that some revenue-generating agencies had failed to remit funds due to the Federal Government, accusing them of retaining a large portion of collected revenue instead of complying with statutory requirements.
He said agencies found to have withheld government funds would be required to undergo reconciliation and refund any outstanding amounts.
Reacting to the matter, Senate President Godswill Akpabio rejected claims that Senate committees lacked the authority to invite government institutions for oversight.
Akpabio maintained that the National Assembly has constitutional powers to compel agencies to provide necessary information and appear before its committees.
He directed the Finance Committee to return with a substantive motion seeking to compel the affected agencies to attend the hearings, warning that continued disregard for legislative invitations could attract constitutional consequences.
Among the agencies listed for summons are the CBN, NNPCL, Federal Airports Authority of Nigeria (FAAN), Nigerian Civil Aviation Authority (NCAA), Nigerian Maritime Administration and Safety Agency (NIMASA), Office of the Accountant-General of the Federation, Nigerian Railway Corporation, Nigerian Electricity Regulatory Commission (NERC), and Transmission Company of Nigeria (TCN).
Other affected institutions include the Federal Mortgage Bank of Nigeria, Nigerian Ports Authority, Standards Organisation of Nigeria, Nigerian Upstream Petroleum Regulatory Commission, Joint Admissions and Matriculation Board (JAMB), National Examinations Council (NECO), Nigeria Deposit Insurance Corporation (NDIC), and several others.
The Senate adopted the motion through a voice vote, clearing the way for formal summons as lawmakers intensify efforts to strengthen financial accountability and oversight of public funds.
