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Drama in Abuja: Reps Summon Finance Minister, CBN Governor for Breaking Fiscal Rules!
The Joint Committees on Public Accounts and Public Assets of the House of Representatives have summoned the Minister of Finance, Wale Edun, and the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before them on Monday, June 16, 2025. The summons relates to alleged violations of the Fiscal Responsibility Act of 2007.....KINDLY READ THE FULL STORY HERE▶
The top officials are expected to address concerns arising from internal control lapses highlighted in the 2021 audit report released by the Office of the Auditor General for the Federation.
In a joint letter issued on Saturday and signed by the Chairmen of the Committees—Hon. Bamidele Salam (Public Accounts) and Hon. Ademorin Kuye (Public Assets)—the Finance Minister and CBN Governor were directed to provide comprehensive information on the remittance of operating surpluses by the apex bank to the Federation Account, in accordance with existing financial laws and regulations.
It should be recalled that both the Fiscal Responsibility Commission and the Auditor General had submitted reports accusing several Ministries, Departments, and Agencies (MDAs)—including the CBN—of failing to remit, or under-remitting, their operating surpluses over the past six years, in contravention of statutory provisions.
According to Hon. Salam, “These infractions have adversely affected the federal government’s liquidity position and have hampered the effective execution of national budgets approved by the National Assembly.”
The Committees noted that sufficient time had been given to both the Finance Ministry and the CBN to reconcile their financial records and clarify their positions. The upcoming hearing is intended to be a final opportunity to resolve the outstanding issues.
Additionally, the lawmakers are reviewing findings in the Auditor General’s statutory report that reveal several fully funded public assets remain incomplete and unused years after project initiation. Projects in Dutse, Abeokuta, and other locations—awarded between 2011 and 2016—were specifically mentioned as still unfinished.
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UNIABUJA Honours Odili, Ali, Issa As 17,300 Students Graduate.
Yakubu Gowon University (formerly University of Abuja) has graduated 17,300 students at its combined 29th and 30th convocation ceremonies held on Saturday at the main campus.....KINDLY READ THE FULL STORY HERE▶
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FG Bans Importation Of Paracetamol, Metronidazole And Other Medicines.
The Federal Government has released an updated list of items banned from importation into Nigeria, in a move aimed at protecting local industries and reducing pressure on foreign exchange.....KINDLY READ THE FULL STORY HERE▶
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Momodu Defends Atiku Amid Age Criticism Ahead Of 2027 Presidential Contest.
ADC chieftain and publisher, Dele Momodu, has dismissed calls for former Vice President Atiku Abubakar to withdraw from the 2027 presidential race, describing the push as unfair and politically motivated.....KINDLY READ THE FULL STORY HERE▶
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