The House of Representatives has directed the Central Bank of Nigeria (CBN) to remit N3.64 trillion to the Federal Government within 14 days.
The sum represents 70% of an outstanding N5.2 trillion in unpaid operating surplus for the period spanning 2016 to 2022.
The resolution was reached following the appearance of the Central Bank of Nigeria (CBN) team, before a Joint Committee comprising the House Committees on Public Accounts and Public Assets.
CBN’s Deputy Governor of Operations Directorate, Dr. Bala Mohammed Bello, led the team along with the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The lawmakers interrogated the Apex Bank on its failure to remit operating surplus funds.
It also queried the bank’s management of unclaimed dividends and dormant account balances.
A formal letter signed by Chairman, Public Accounts Committee, Mr. Bamidele Salam and Chairman, Public Assets Committee, Mr. Kuye Aliyu, has been addressed to the CBN Governor.
Titled: “Investigation of Non-Compliance with Fiscal Responsibility Act 2007 and Finance Act 2020 on the Remittance of Operating Surplus and Management of Unclaimed Dividends and Dormant Account Balances by the Central Bank of Nigeria, the letter accused the bank of withholding N5.2 trillion due to the Federal Government.
