Rowdy session as reps summon Cardoso over ‘N11trn unremitted revenue’

The house of representatives erupted into a rowdy session on Wednesday while lawmakers were debating a motion to summon Yemi Cardoso, governor of the Central Bank of Nigeria (CBN), over the alleged non-remittance of N11 trillion in government revenue.

Bamidele Salam, chairman of the committee on public accounts, sponsored the motion.

THE MOTION

Leading the debate, Salam said the CBN, which plays a statutory role in administering the Remita revenue collection system under the Fiscal Responsibility Act 2007 and other fiscal laws, has failed to account for and remit several categories of federal revenue accrued between 2015 and 2022.

The lawmaker said findings by the public accounts committee during its investigation into the 2022 auditor-general’s report and the management of the Remita platform, covering March 1, 2015, to April 30, 2016, revealed multiple infractions involving the apex bank.

He said the committee discovered that the CBN has an undisputed liability of N5.2 trillion in unpaid operating surpluses owed to the federal government from 2016 to 2022, which remains unremitted.

Salam further said the apex bank collected N954.3 million in charges that were meant to be refunded to the federal government, noting that no refund has been made.

The lawmaker said when interest was computed at the monetary policy rate (MPR) of 27.25 percent, the total sum due for refund rose to N3.28 billion.

He also highlighted a discrepancy in total collections reported by the CBN, noting that while the bank claimed it collected N8.74 billion, the committee’s own computation based on the same data showed N19.83 billion, leaving a difference of N11.1 billion.

He said the committee also uncovered a “migration discrepancy” of N2,686,325,119,825.10, which is outstanding and payable to the federal government’s asset recovery account.

“Cumulatively, the committee has uncovered that the Central Bank of Nigeria is indebted to the federal government in the sum of over N11 trillion, arising from the foregoing infractions and discrepancies,” Salam said.

He said despite several formal communications to the CBN governor to appear before the committee and remit the outstanding amounts, Cardoso has “failed, refused, or neglected” to honour the invitations.

Salam added that at a time when the nation faces acute revenue shortages, heightened insecurity, and pressing developmental needs, the prompt recovery of all government funds is critical for national stability and economic sustainability.

He prayed the house to summon Cardoso to appear during the plenary to answer questions over the unremitted revenue.

THE DEBATE/ROWDY SESSION

Tensions in the house began after Ghali Tijjani, the member representing Kano Ajingi/Albasu/Gaya, proposed that an ad hoc committee be set up to investigate the matter.

Tajudeen Abbas, speaker of the house, agreed with Tijjani, suggesting that the panel should comprise the chairpersons of the banking regulations, public accounts, and finance committees, with Salam as chairman, while Cardoso is reinvited.

Babajimi Benson, chairman of the defence committee, supported the proposal, saying the committee members should also be part of the ad hoc committee.

However, Sada Soli, who represents the Jibia/Kaita federal constituency of Katsina state, rejected the idea, describing the motion as “too revealing” and “damning to the managers of this country.”

Soli argued that the house should issue a formal summons rather than an invitation.

“It is unacceptable. It is a wake-up call to stop this rascality,” he said.

Ahmed Jaha also opposed the setting up of the ad hoc committee, stating that Salam is competent, while the PAC should handle the investigation.

Ibrahim Isiaka, deputy minority whip, warned that creating a separate committee could frustrate the ongoing probe and set a bad precedent.

Olumide Oshoba, from Ogun, added that the PAC, as a constitutional committee, should be allowed to conclude its work.

Following disagreements among lawmakers, the house descended into a rowdy session for over 20 minutes, with Abbas struggling to restore decorum.

After order was restored, the speaker warned lawmakers against unparliamentary behaviour.

“Shouting and insulting are very unparliamentary. This is not the behaviour of an honourable member. We are telling the world that we are not what we are not supposed to be,” Abbas said.

He specifically cautioned Mark Esset, a lawmaker from Akwa Ibom, and Kabiru Mai Palace, warning that any further misconduct would be referred to the ethics committee.

Subsequently, Jaha moved an amendment for the house to summon Cardoso and all relevant agencies to appear before the PAC committee, explain the non-remittance of identified revenues, and present a concrete plan for immediate payment into federal government accounts.

Lawmakers voted in support of the amendment.

Cardoso is expected to appear before the committee on December 16. Lawmakers adopted the motion after over 20 minutes of rowdy debate.