The Senate has resolved to summon the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL), and about 40 other Ministries, Departments and Agencies (MDAs) over alleged failures to account for public funds and comply with legislative oversight.
The resolution followed a motion moved by the Chairman of the Senate Committee on Finance, Senator Sani Musa, during plenary on Wednesday.
Musa accused several government agencies of frustrating the committee’s efforts to investigate revenue remittances, operating surpluses and compliance with the Fiscal Responsibility Act and other financial regulations by repeatedly ignoring invitations to appear before lawmakers.
He explained that the committee was exercising its constitutional powers under Sections 88 and 89 of the 1999 Constitution (as amended), which empower the National Assembly to investigate the finances and administration of public institutions.
“As part of our constitutional mandate under Sections 88 and 89 of the Constitution, the Senate Committee on Finance conducts periodic investigative hearings to examine the financial operations of Government-Owned Enterprises and Ministries, Departments and Agencies,” Musa said.
According to him, the investigation focuses on internally generated revenue, operating surpluses, statutory remittances and stamp duty collections where applicable.
The lawmaker expressed concern that despite repeated invitations, many agencies either refused to appear or ignored the committee entirely.
“More concerning is that some have taken the position that they are under no obligation to appear before the committee or submit the requested information, notwithstanding the clear constitutional and statutory powers vested in the National Assembly,” he stated.
Musa further alleged that several revenue-generating agencies had violated provisions of the Fiscal Responsibility Act and the Finance Act 2022 by retaining revenues meant for the Federal Government.
“These are agencies that collect revenue for the government, and the Fiscal Responsibility Act, as well as the Finance Act 2022, direct that all Ministries, Departments and Agencies must comply with the financial regulations on remittances,” he said.
He added that some agencies had allegedly withheld funds due to the government since 2020 and would be required to refund any outstanding sums following reconciliation by the Fiscal Responsibility Commission.
Contributing to the debate, Senate President Godswill Akpabio rejected claims that Senate committees lacked the authority to summon government agencies.
“The National Assembly has the power. We have the powers enshrined in the Constitution to invite them,” Akpabio said.
He directed the Finance Committee to return with a substantive motion that would empower the Senate to compel the defaulting agencies to appear before the legislature.
The Senate subsequently adopted the motion by voice vote, paving the way for the formal summons of the affected agencies.
Among those listed are the CBN, NNPCL, Federal Airports Authority of Nigeria, Nigerian Civil Aviation Authority, Nigerian Maritime Administration and Safety Agency, Nigerian Ports Authority, Nigerian Electricity Regulatory Commission, Transmission Company of Nigeria, Joint Admissions and Matriculation Board, National Examinations Council and several other federal agencies.
Observers say the move reflects growing efforts by the National Assembly to strengthen fiscal accountability, transparency and oversight of public finances.
