The Senate has summoned 47 revenue-generating ministries, departments and agencies (MDAs), including the Central Bank of Nigeria (CBN), Nigerian National Petroleum Company (NNPC) Limited and the Nigerian Ports Authority (NPA), over allegations that they failed to remit funds due to the Federation Account.
The directive followed a resolution reached during plenary after lawmakers considered a motion sponsored by Senator Sani Musa, who represents Niger East.
According to Musa, several government agencies have not complied with the provisions of the Fiscal Responsibility Act, 2007, and other financial regulations requiring them to remit their operating surpluses to the federal government. He also alleged that many of the agencies repeatedly ignored invitations from the Senate Committee on Finance, making it difficult for the committee to carry out its oversight responsibilities.
Lawmakers expressed concern that the alleged non-compliance has reduced government revenue and weakened efforts to promote accountability and transparency in public finance management.
Senate President Godswill Akpabio insisted that the National Assembly has the constitutional authority to investigate the financial activities of agencies handling public funds. He dismissed claims by some institutions that Senate committees lack the power to summon them and warned that agencies that fail to honour the invitations could face sanctions.
Among the agencies directed to appear before the Senate Committee on Finance are the CBN, NNPC Limited, NNPC Retail Limited, Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Electricity Regulatory Commission (NERC), Transmission Company of Nigeria (TCN), Federal Airports Authority of Nigeria (FAAN), Joint Admissions and Matriculation Board (JAMB), National Examinations Council (NECO) and the Nigeria Deposit Insurance Corporation (NDIC), alongside several other government agencies.
The Senate mandated its Committee on Finance to engage the affected organisations, investigate the allegations and submit its findings and recommendations to the chamber for further legislative action.
