Minister of Finance, Wale Edun and CBN Governor, Yemi Cardoso
By EZEKIEL OBI, Abuja –
The Joint House of Representatives Committee on Public Accounts and Public Assets has summoned Central Bank of Nigeria (CBN) Governor, Yemi Cardoso and Finance Minister Olawale Edun to appear before it on Monday, June 16, 2025.
The summons is over allegations of non-compliance with the provisions of the Fiscal Responsibility Act 2007.
According to a statement jointly issued by the committee’s chairman, Rep. Bamidele Salam, and his public assets counterpart, Rep. Ademorin Kuye, Cardoso and Edun are expected to make clarifications on allegations of non-compliance with the Fiscal Responsibility Act.
They will also address internal control weaknesses identified in the 2021 reports by the Auditor-General for the Federation.
Allegations Against CBN and Ministry of Finance
The Fiscal Responsibility Commission and the Auditor-General for the Federation have accused the CBN and several other Ministries, Departments, and Agencies (MDAs) of failing to remit or under-remitting their operating surpluses to the Federation Account over the past six years.
The committee is also investigating reports of fully paid-for projects that have not been completed and put into use, with some projects awarded between 2011 and 2016 still pending.
The committee chairman noted that these violations have negatively impacted the federal government’s liquidity, hindering effective budget implementation.
The committee aims to ensure accountability and transparency in the management of public funds and assets ¹ ² ³.
