The House of Representatives has summoned the Governor of the Central Bank of Nigeria, Olayemi Cardoso, over allegations that the apex bank failed to remit more than ₦16 trillion in government revenues.
The decision followed a heated session on Tuesday after a motion was raised on the matter by Chairman of the Public Accounts Committee, Bamidele Salam. Salam told the House that the CBN had allegedly withheld over ₦5 trillion in operating surplus and an additional ₦11 trillion in accrued government revenue.
He also disclosed that the claims emerged from the Auditor-General of the Federation’s 2022 financial year report, adding that the CBN governor had repeatedly ignored earlier invitations from the committee.
Salam described the situation as unacceptable, especially at a time when the country is battling dwindling revenues, rising insecurity and urgent infrastructure demands.
Tension rose during the session when Speaker Tajudeen Abbas proposed transferring the investigation to an ad hoc committee rather than compelling the CBN governor to appear before the full House. Several lawmakers opposed the move, arguing that it undermined the constitutional mandate of the Public Accounts Committee.
