Senate reacts to CBN, FIRS, NDDC, others' disregard of order to disclose financial transactions


The Senate on Thursday warned the Central Bank of Nigeria (CBN), Federal Inland Revenue Service (FIRS), Niger-Delta Development Commission (NDDC) and other government agencies of dire consequences over failure to submit their audited reports after a 7-day ultimatum.

The Chairman, Senate Committee on Public Accounts, Senator Matthew Urhoghide, disclosed this in a statement in Abuja.

Urhoghide lamented that 18 out of the 25 agencies have neither submitted their reports nor write to explain the rationale for their action.

He warned the agencies to submit their reports in the overall interest of the country or be penalized according to the law for failure to disclose their financial transactions as stipulated by the Constitution.

Other defaulting agencies, according to him, include the Federal Roads Maintenance Agency (FERMA), Federal Capital Territory Administration (FCTA), National Agency for Science and Engineering and Infrastructure (NASENI), Nigeria Investment Promotion Council, National Space Research and Development Agency, Nigerian Building and Road Research Institute, Nigeria Maritime Administration and Safety Agency (NIMASA), Petroleum Equalization Fund, Ministry of Niger Delta Affairs, Presidential Amnesty Programmé and the Nigerian Petroleum Development Company, (NPDC).

Others are the Small and Medium Enterprise Development Agency, Federal Road Safety Corps (FRSC), Nigerian Airspace Management Agency, Nigerian Railway Corporation, and the National Primary Healthcare Development Agency.

Urhoghide said: “Recall that on 20th November 2019, the Senate Public Accounts Committee called a press conference to draw the attention of some agencies of government numbering 25 about their failure to submit relevant documents on their income and expenditure for its oversight functions. The agencies were given 7 days to send their responses to the Committee.

“Despite the lapse of time, some agencies have refused to respond to the Committee. The Committee in carrying out its oversight functions will not relent in ensuring that the agencies are called to account for their stewardship in accordance with the provisions of the Constitution, Senate Standing Orders, and extant Acts.

“It is necessary for these agencies to note that they must comply with the directive of the Committee in the overall public interest.”


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