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Lawmakers Query CBN, Demand Answers on ₦5.3tn Revenue Gap

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Lawmakers Query CBN, Demand Answers on ₦5.3tn Revenue Gap
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By Derick Peretengboro

The House of Representatives Public Accounts Committee has intensified its oversight of federal revenue management by launching an investigation into allegations that the Central Bank of Nigeria (CBN) failed to remit ₦5.3 trillion in operating surplus to the Federal Government.

The issue came up during a committee hearing attended by the Accountant-General of the Federation, Shamsedeen Ogunjimi, alongside senior officials from the Office of the Accountant-General of the Federation (OAGF). Lawmakers also requested detailed records of outstanding revenues allegedly owed by the CBN, the Nigerian National Petroleum Company Limited (NNPCL), and other government-owned agencies.

During the session, the OAGF’s Director of Revenue and Investment, Makinde Mogaji, informed lawmakers that the apex bank had an outstanding operating surplus of about ₦5.3 trillion owed to the Federal Government. He stated that previous efforts by the committee to recover the funds had not produced the desired result, despite existing requirements for eligible agencies to remit a significant portion of their operating surplus.

Committee members expressed concern over the country’s low revenue performance, arguing that weak compliance with remittance obligations by some government institutions continues to affect public finances. They insisted that agencies should not only report the percentage of surplus remitted but also provide transparent details of the actual revenues generated.

The lawmakers also questioned reports that the OAGF deducted funds from the statutory accounts of several Ministries, Departments and Agencies (MDAs), including the Universal Basic Education Commission (UBEC), raising concerns that the withdrawals may have disrupted the agencies’ operations.

Responding to the concerns, Accountant-General Ogunjimi defended the deductions, explaining that the funds were temporarily accessed as part of a revenue recovery strategy to meet pressing government obligations. He maintained that the process was designed to improve federal revenue collection and assured lawmakers that appropriate reconciliations and refunds would be made where necessary.

The committee directed the OAGF to submit comprehensive documentation detailing all outstanding operating surplus payments, deductions from agency accounts, and any refunds already processed. Lawmakers said the records would guide further legislative action aimed at improving transparency, accountability, and compliance with Nigeria’s fiscal regulations.


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Warri Group Withdraws Support for Ereyitomi, Backs Mulade for 2027 Reps Election

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Warri Group Withdraws Support for Ereyitomi, Backs Mulade for 2027 Reps Election
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By staff Reporter Rukevwe Odeh

 

A group of stakeholders in Warri has announced its decision to withdraw support for the incumbent member representing the Warri Federal Constituency in the House of Representatives, Hon. Thomas Ereyitomi, ahead of the 2027 general elections.

 

The group, while explaining its position, cited what it described as dissatisfaction with the lawmaker’s performance and representation of the constituency.

 

The stakeholders subsequently declared their support for Comrade Jude Ukori Mulade as their preferred candidate for the 2027 House of Representatives election.

 

According to the group, its decision followed concerns over the level of representation and development delivered to the constituency under the current administration.

 

The stakeholders said they were seeking a representative who would be more responsive to the needs of the people and more committed to advancing issues affecting residents across the constituency.

 

They urged other political stakeholders and eligible voters in Warri to consider Mulade’s candidacy as the 2027 elections approach.

 

The group’s endorsement adds to the growing political activities and realignments expected to shape the contest for the Warri Federal Constituency seat ahead of the 2027 general elections.

 

Ereyitomi, who currently represents the constituency in the House of Representatives, has yet to publicly respond to the allegations contained in the group’s statement.


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DELTA: Persistent Flooding Raises Concerns Over Warri Airport Road

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DELTA: Persistent Flooding Raises Concerns Over Warri Airport Road
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By staff Reporter Rukevwe Odeh

 

Residents and road users along the Warri Airport Road, particularly the section near Federal Government College in Warri South Local Government Area of Delta State, have continued to contend with recurring flooding despite years of road construction and rehabilitation efforts.

 

The affected stretch is frequently submerged following heavy rainfall, with inadequate drainage identified as a major factor contributing to the persistent flooding.

 

The recurring situation has raised concerns among motorists, residents and other road users, who say the condition of the road continues to disrupt movement and create difficulties for commuters whenever there is significant rainfall.

 

The development has also renewed calls for attention to the drainage system along the route, with residents hoping that a lasting solution will be implemented to prevent the road from repeatedly becoming flooded.


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Heavy Rainfall Floods Ekpan Link Road in Delta

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Heavy Rainfall Floods Ekpan Link Road in Delta
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By staff Reporter: Rukevwe Odeh

 

A heavy downpour has left the popular NNPC Housing Complex Road, also known as Ekpan Link Road, submerged in floodwater in Uvwie Local Government Area of Delta State.

 

The rainfall caused significant water accumulation along the busy road, affecting movement and creating difficulties for motorists and other road users.

 

The condition of the road has renewed concerns over flooding and drainage challenges in the area, particularly during periods of heavy rainfall.

 

Residents and commuters are expected to exercise caution while using the affected route as efforts to manage the situation continue.


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