The Senate has mandated its Committee on Finance to draft a motion requiring government-owned entities and revenue-generating bodies to answer for failing to report to the legislature. These organizations have reportedly skipped sessions intended to review their internally generated revenue and operating surplus payments to the Consolidated Revenue Fund (CRF).
Senator Sani Musa, who chairs the Finance Committee, will lead this effort to demand clarity on missing remittances spanning from 2023 to 2025. Key institutions listed for scrutiny include the Nigerian National Petroleum Company Limited, the Central Bank of Nigeria, and the Nigerian Upstream Petroleum Regulatory Commission. Additional agencies facing this summons include JAMB, NECO, the Nigerian Shippers’ Council, the NDIC, NAHCON, and the Federal Radio Corporation of Nigeria.
Senator Musa addressed the upper chamber on Wednesday to highlight the persistent absence of these bodies, which has hindered the committee’s ongoing audit of financial records. This oversight initiative serves to evaluate how government institutions manage their funds and to ensure they adhere to mandatory remittance laws.
