The House of Representatives has intensified its probe into the remittance of government revenues by federal agencies, directing the Office of the Accountant-General of the Federation (OAGF) to provide details of outstanding operating surplus 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 by the House Committee on Public Accounts during an investigative session at the National Assembly attended by the Accountant-General of the Federation, Shamseldeen Ogunjimi, and senior treasury officials.
The investigation forms part of the committee’s oversight of compliance with the Fiscal Responsibility Act, which requires government-owned enterprises to remit a specified portion of their operating surplus into the Consolidated Revenue Fund.
Lawmakers also requested records relating to deductions made from the accounts of Ministries, Departments and Agencies (MDAs), following complaints that funds were withdrawn from statutory allocations, affecting the execution of key government programmes.
Committee member Gboyega Isiaka expressed concern over Nigeria’s revenue performance, arguing that poor compliance with remittance obligations continued to weaken public finances. He questioned whether agencies managing significant public assets were declaring and remitting the appropriate amount of operating surplus.
Responding on behalf of the OAGF, Director of Revenue and Investment Makinde Mogaji disclosed that the CBN had an outstanding operating surplus obligation estimated at N5.3tn.
According to him, previous efforts to recover the funds had not produced the desired outcome, despite the statutory requirement for a substantial portion of such surpluses to be remitted to the Federal Government. He noted that while some agencies had made significant contributions, others remained in default.
The hearing also focused on the OAGF’s policy of automatically deducting anticipated operating surplus from the accounts of government agencies before the end of the financial year.
Defending the policy, Ogunjimi said the initiative helped improve government revenue generation and was introduced as a means of securing funds due to the government in advance. He, however, acknowledged that the approach generated resistance from several agencies, leading to reviews and reversals in some instances.
He added that disagreements also arose with the NNPCL over the computation of liabilities, with some issues still under review.
Mogaji explained that the auto-deduction framework remained in place and was intended to reconcile agencies’ final operating surplus after their audited accounts were completed. He said the current figures were provisional and subject to reconciliation.
Lawmakers, however, questioned the legality of withdrawing funds from agencies established to deliver critical public services.
Committee Chairman Bamidele Salam cited petitions from the Universal Basic Education Commission (UBEC), the National Agency for Science and Engineering Infrastructure (NASENI) and other agencies, alleging that billions of naira had been deducted from their accounts without timely reimbursement.
Ogunjimi maintained that the withdrawals were temporary and carried out to address urgent government financing needs. He said such funds were treated as short-term loans and refunded once the affected agencies required them for approved projects.
He cited the refund of more than N300bn previously utilised from the Tertiary Education Trust Fund (TETFund) as an example of the arrangement.
The committee, however, insisted that statutory agencies should have uninterrupted access to funds appropriated for their mandates, warning that prolonged deductions could undermine service delivery in critical sectors such as education.
At the end of the hearing, the committee directed the OAGF to submit comprehensive records of outstanding operating surplus owed by the CBN, NNPCL and other government-owned enterprises, as well as details of deductions from MDA accounts, refunds already made and outstanding balances.
The investigation is expected to continue as lawmakers seek to establish the level of compliance with the Fiscal Responsibility Act and determine whether the deductions from statutory agency accounts were carried out in accordance with the law.
