The house of representatives erupted into mild drama on Wednesday while lawmakers were debating a motion to summon the governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, over the alleged non-remittance of N11 trillion in government revenue.
The motion was sponsored by public accounts committee chairman Bamidele Salam.
Leading the discussion, Salam claimed that the CBN, which is mandated by the Fiscal Responsibility Act of 2007 and other fiscal legislation to run the Remita revenue collecting system, has neglected to account for and remit a number of federal revenue categories that have accumulated between 2015 and 2022.
The congressman claimed that numerous violations involving the top bank were discovered by the public accounts committee during its inquiry into the 2022 auditor-general’s report and the administration of the Remita platform, which covered the period from March 1, 2015, to April 30, 2016.
According to him, the committee found that the CBN owes the federal government N5.2 trillion in unpaid operating surpluses between 2016 and 2022. This debt is still outstanding.
Salam added that N954.3 million in charges that were supposed to be reimbursed to the federal government were collected by the apex bank, but no reimbursement has been made.
The legislator claimed that the total amount owed for a refund increased to N3.28 billion when interest was calculated at the monetary policy rate (MPR) of 27.25 percent.
He also drew attention to a disparity in the CBN’s reported total collections, pointing out that although the bank claimed to have collected N8.74 billion, the committee’s own calculation using the same data revealed N19.83 billion, resulting in a N11.1 billion shortfall.
“Cumulatively, the committee has uncovered that the Central Bank of Nigeria is indebted to the federal government in the sum of over N11 trillion, arising from the foregoing infractions and discrepancies,” Salam said.
He claimed that Cardoso has “failed, refused, or neglected” to accept the invitations to come before the committee and pay the unpaid monies despite multiple official messages to the CBN governor.
Salam continued, “The timely recovery of all government funds is critical for national stability and economic sustainability at a time when the country faces acute revenue shortages, heightened insecurity, and pressing developmental needs.”
In order to address concerns regarding the unremitted revenue, he asked that the house would call Cardoso to appear during the plenary.
THE DEBATE/ROWDY SESSION
The tension in the house began after Ghali Tijjani, the member representing Kano Ajingi/Albasu/Gaya, proposed that an ad hoc committee be set up to investigate the matter.
Speaker of the House Tajudeen Abbas concurred with Tijjani, proposing that the panel be composed of the chairs of the public accounts, banking regulations, and finance committees, with Salam serving as chairman and Cardoso being invited again.
The suggestion was endorsed by the defence committee chairman, Babajimi Benson, who stated that committee members had to be included in the ad hoc committee.
However, Sada Soli, who represents the Jibia/Kaita federal constituency of Katsina state, rejected the idea, describing the motion as “too revealing” and “damning to the managers of this country.”
Soli argued that the house should issue a formal summons rather than an invitation.
“It is unacceptable. It is a wake-up call to stop this rascality,” he said.
Ahmed Jaha was also against the ad hoc committee’s formation, arguing that the PAC should conduct the probe and Salam is capable.
The deputy minority whip, Ibrahim Isiaka, cautioned that establishing a distinct committee may impede the current investigation and create a negative precedent.
Ogun resident Olumide Oshoba stated that the PAC should be permitted to finish its function as a constitutional committee.
The parliament deteriorated into a boisterous session for more than 20 minutes after differences among legislators, and Abbas struggled to restore civility.
After order was restored, the speaker warned lawmakers against unparliamentary behaviour.
“Shouting and insulting are very unparliamentary. This is not the behaviour of an honourable member. We are telling the world that we are not what we are not supposed to be,” Abbas said.
He explicitly warned Kabiru Mai Palace and Akwa Ibom legislator Mark Esset that any more wrongdoing will be reported to the ethics committee.
Jaha then proposed an amendment that would require the house to call Cardoso and all pertinent agencies to testify before the PAC committee, explain why identified revenues have not been sent, and provide a detailed strategy for prompt deposit into federal government accounts.
The change was approved by lawmakers.
