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Rowdy Session in House of Reps Over ₦5.2trn CBN Surplus

A heated session broke out on the floor of the House of Representatives on Wednesday as lawmakers debated a motion alleging the non‑remittance of more than ₦5.2 trillion in operating surpluses and ₦11 trillion in revenue discrepancies linked to the Central Bank of Nigeria (CBN) between 2016 and 2022.

The motion was moved by Hon. Bamidele Salam, Chairman of the Public Accounts Committee (PAC), relying on findings from the 2022 Auditor‑General’s Report.

According to PAC’s review, the CBN has an undisputed liability of ₦5.2 trillion in unremitted operating surpluses due to the Federal Government. Other discrepancies include:

  • ₦954.3 million in charges collected on Remita transactions but allegedly not refunded.
  • ₦11.09 billion variation between CBN’s reported collections and PAC’s recalculation.
  • ₦3.28 billion due for refund when interest at the Monetary Policy Rate (27.25%) is applied.
  • ₦19.8 billion total variance in figures submitted by the apex bank.

Rowdy Debate

Trouble began when Rep. Ghali Mustapha Tijanni (Kano) moved for an ad‑hoc committee to handle the investigation. Members opposed the amendment, insisting that PAC should lead the probe.

The disagreement quickly escalated into shouting matches, forcing Speaker Abbas Tajudeen to intervene.

Hon. Ahmed Jaha (Chibok/Damboa/Gwoza) then moved an amendment urging the House to summon the CBN Governor and relevant agencies before PAC. The proposal sparked further objections, leading to near‑chaos in the chamber.

Speaker Abbas Tajudeen reprimanded lawmakers for their conduct:

“You are shouting as if putting the question will take away a right that belongs to you. This is not the behaviour of an honourable member. We are before the world seeing us.”

He cautioned Hon. Mark Esset and Hon. Kabir Maipalas, warning of disciplinary action if disorder continued.

Resolution

After restoring order, Abbas restated Jaha’s amendment, seconded by Hon. Akin Alabi (Oyo). When the motion was put to vote, shouts of “aye” and “nay” rang across the chamber, but the “aye” carried it.

The House resolved to summon the CBN Governor and officials responsible for Remita revenue administration to appear before PAC.

The committee will investigate alleged non‑remittance of federal revenue and discrepancies from 2015 to 2022, ensuring compliance with the Fiscal Responsibility Act, the CBN Act, and other financial regulations.

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