Just in: House of Reps Invites Edun, Cardoso Over Audit Infractions, Fiscal Breaches

The House of Representatives’ Joint Committee on Public Accounts and Public Assets has summoned the Finance Minister, Mr. Wale Edun, and the Central Bank of Nigeria (CBN) Governor, Dr. Olayemi Cardoso, to appear before it on Monday, June 16.

The duo is to address allegations of non-compliance with the Fiscal Responsibility Act 2007.

Additionally, they will face questions about the internal control weaknesses highlighted in the Office of the Auditor General for the Federation’s 2021 report.

In a letter signed jointly by Rep. Bamidele Salam, Chairman of the House Committee on Public Accounts, and Rep. Ademorin Kuye, Chairman of the Committee on Public Assets, the Committee has requested that the duo provide details on the remittance of operating surpluses to the Federation Account.

The request which is in line with relevant laws and regulations, was made on Saturday.

Persecondnews recalls that the Fiscal Responsibility Commission and the Auditor General for the Federation have submitted reports alleging that several federal ministries, departments, and agencies, including the CBN, have failed to remit or under-remitted their operating surpluses over the past six years, as required by financial laws and regulations.

According to the Public Accounts Committee Chairman, these violations have negatively impacted the liquidity of the federal government and constitute a hindrance to effective implementation of the budgets passed by parliament.

The Committee said it had given both the Finance Ministry and the apex bank adequate time to reconcile their accounts and present their positions in order to determine the degree of financial liabilities involved, hence the need for a final hearing to resolve the issues.

It is equally looking at a report in the Auditor General for the Federation statutory report alleging that a number of public assets which had been fully paid for have not been completed and put into use for many years.

“Some of these projects in Dutse, Abeokuta, and other locations were awarded between 2011 and 2016 but yet to be completed according to audit reports,” the statement said.