CBN Governor, Yemi Cardoso
House of Representatives has directed the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before its Committee on Public Accounts following revelations of more than ₦5 trillion in unremitted operating surplus and ₦11 trillion in revenues linked to the Remita collection system.
The decision came after lawmakers adopted a motion presented by the Chairman of the Public Accounts Committee, Hon. Bamidele Salam, who drew attention to financial discrepancies flagged by the Auditor-General of the Federation in its 2022 audit report.
According to the report, the CBN allegedly failed to remit charges collected through the Remita Revenue Collection System between March 2015 and April 2016, an infraction that formed part of broader audit concerns involving several government agencies.
Drama briefly unfolded during plenary when members disagreed over whether an ad-hoc committee should handle the probe.
After deliberation, the House resolved that the ongoing investigation remain with the Public Accounts Committee to ensure continuity and depth.
“The issues raised are too significant to be ignored,” Salam insisted, noting that the Committee was determined to “get to the root of all unremitted funds” identified in the audit.
Cardoso is expected to appear before the Committee to provide clarifications on the alleged lapses and the status of the funds in question.
