The House of Representatives has issued a directive to the Central Bank of Nigeria (CBN) to remit the sum of N3.64 trillion (Three Trillion, Six Hundred and Forty Billion Naira) to the Federal Government within 14 days.
This amount represents 70% of an outstanding N5.2 trillion in unpaid operating surplus for the period spanning 2016 to 2022.
The resolution was reached following the appearance of the Central Bank of Nigeria (CBN) team, led by Deputy Governor of Operations Directorate, Bala Bello, along with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, before a Joint Committee comprising the House Committees on Public Accounts and Public Assets.
During the session, lawmakers interrogated the apex bank on its failure to remit operating surplus funds and its management of unclaimed dividends and dormant account balances.
A formal letter addressed to the CBN Governor, signed by Bamidele Salam, Chairman of the Public Accounts Committee, and Rep. Kuye Ademorin Aliyu, Chairman of the Public Assets Committee, accused the bank of withholding N5.2 trillion due to the Federal Government.
