The House of Representatives Public Accounts Committee has ordered the Office of the Accountant-General of the Federation (OAGF) to furnish a full report on unpaid operating surpluses and revenues supposedly due to the state from the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL), and other federal bodies. During an investigative session featuring Accountant-General Shamseldeen Babatunde Ogunjimi, the committee challenged the OAGF regarding the controversial withdrawal of billions of naira from various agencies, such as the Universal Basic Education Commission (UBEC).
Committee member Hon. Gboyega Nasir Isiaka highlighted that consistent revenue leakages from state-owned enterprises hinder national fiscal health. Makinde Mogaji, a director within the OAGF, revealed that the CBN reportedly owes the government N5.3 trillion in unremitted funds. While agencies like the Federal Airports Authority of Nigeria have made payments, compliance across the board remains low.
The OAGF defended its practice of automatic account deductions as a necessary advance recovery mechanism, though it acknowledged that entities like the NNPCL have resisted these actions. Accountant-General Ogunjimi argued that these withdrawals function as temporary government borrowing to address urgent financial needs, citing the successful repayment of funds borrowed from the Tertiary Education Trust Fund as proof of the system’s viability.
However, Committee Chairman Hon. Bamidele Salam expressed strong opposition to these practices, noting that agencies such as UBEC and the National Agency for Science and Engineering Infrastructure have reported significant funds missing from their accounts. Salam emphasized that such actions jeopardize the operations of these agencies, particularly regarding essential educational programs. The committee has officially ordered the OAGF to produce exhaustive documentation on all deductions and outstanding debts to facilitate further inquiry.
