The House of Representatives Public Accounts Committee has directed the Office of the Accountant-General of the Federation (OAGF) to submit a comprehensive report detailing outstanding operating surpluses 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 on Tuesday as the committee intensified its ongoing investigation into the remittance of revenues by federal agencies and government-owned enterprises.
The committee requested the OAGF to provide a detailed breakdown of outstanding operating surpluses, statutory remittances, and other revenues due to the Federal Government. The report is expected to identify the agencies involved, the amounts outstanding, and the status of reconciliation of the liabilities.
Lawmakers said the information would enable the committee to determine the extent of compliance with existing public finance laws and assess whether agencies have fulfilled their statutory obligations to remit revenues into the Federation’s coffers.
The Public Accounts Committee is probing revenue remittances as part of its constitutional oversight mandate to strengthen fiscal accountability and improve transparency in the management of public finances.
The investigation comes amid growing efforts by the National Assembly to enhance domestic revenue mobilisation and ensure that government-owned enterprises comply with financial regulations governing the remittance of operating surpluses and other revenues.
The committee noted that the report from the OAGF would guide the next phase of its inquiry, including engagements with the affected agencies where necessary. It is expected to scrutinise the submissions to establish the level of outstanding obligations and determine appropriate legislative actions to improve compliance with revenue remittance requirements.
The outcome of the investigation could have significant implications for the Federal Government’s revenue position as authorities continue to seek ways to strengthen non-oil revenues and improve fiscal sustainability.
