Drama In Abuja: Reps Summon Edun, Cardoso Over Financial Breaches And Audit Scandals

Both officials are expected to address concerns over internal control deficiencies flagged in the 2021 audit report issued by the Office of the Auditor General for the Federation.

In a letter signed by the Chairmen of the Public Accounts Committee, Bamidele Salam, and the Public Assets Committee, Ademorin Kuye, the lawmakers requested that Edun and Cardoso provide a detailed account of the CBN’s remittance of its operating surplus to the Federation Account, in accordance with financial regulations.

The summons follows reports by the Fiscal Responsibility Commission and the Auditor General alleging that numerous government ministries, departments, and agencies (including the CBN) have either failed to remit or under-remitted their operating surpluses over the past six years, contrary to existing financial laws.

Committee Chairman Bamidele Salam noted that, “These breaches have significantly affected the federal government’s liquidity and disrupted the effective execution of budgets approved by the National Assembly.”

According to the committee, both the Finance Ministry and the CBN have been given sufficient time to reconcile their accounts and clarify their positions. This final hearing is aimed at resolving the matter conclusively.

Additionally, the committee is investigating findings from the Auditor General’s report indicating that several publicly funded projects—some of which were fully paid for as far back as 2011—have yet to be completed or put to use. These include infrastructure in locations such as Dutse and Abeokuta.

“The projects, many awarded between 2011 and 2016, remain incomplete according to audit findings,” the statement added.