HOUSE SUMMONS FINANCE MINISTER, CBN GOVERNOR OVER FISCAL VIOLATIONS AND UNREMITTED FUNDS

The House of Representatives has summoned the Minister of Finance, Wale Edun, and Central Bank Governor Dr. Olayemi Cardoso to appear before its committees over allegations of financial misconduct and failure to comply with the Fiscal Responsibility Act.
The invitation, signed by Public Accounts Committee Chair Hon. Bamidele Salam and Public Assets Committee Chair Hon. Ademorin Kuye, was issued amid findings from the 2021 Auditor General’s report indicating gross under-remittance of operational surpluses by MDAs and regulatory lapses by the CBN.
The joint committee is investigating how these failures have impaired national liquidity, delayed budget implementation, and contributed to economic instability. Also under scrutiny are abandoned public projects paid for between 2011 and 2016, with lawmakers citing examples from Dutse and Abeokuta.
Despite repeated requests for accountability, the House insists the Finance Ministry and CBN have failed to reconcile discrepancies. Monday’s hearing is expected to be a decisive session in enforcing financial discipline and restoring transparency to federal fiscal operations.