Senate Moves to Compel CBN, NNPCL, 40 MDAs Over Revenue Remittance Investigation
By Kikelomo D.
The Senate has warned that it will invoke its constitutional powers to compel the appearance of the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL), and about 40 other Ministries, Departments and Agencies (MDAs) over their alleged failure to honour invitations issued by the Senate Committee on Finance.
The committee is conducting an investigation into revenue remittances, internally generated revenue, operating surpluses, stamp duty collections where applicable, and compliance with statutory fiscal obligations, including remittances to the Consolidated Revenue Fund (CRF).
Chairman of the Senate Committee on Finance, Senator Sani Musa (Niger East), raised the concern during a Senate session on Wednesday, describing the repeated absence of several revenue-generating agencies as a serious obstacle to legislative oversight.
According to him, the committee’s investigation is being carried out under Sections 88 and 89 of the 1999 Constitution (as amended), which empower the National Assembly to investigate the financial affairs of public institutions, summon public officials, and request documents relating to the management of government funds.
“As part of our constitutional mandate under Sections 88 and 89 of the Constitution, the Senate Committee on Finance conducts periodic investigative hearings to examine the financial operations of government-owned enterprises and Ministries, Departments and Agencies,” Musa said.
The lawmaker expressed concern that some agencies had failed to appear before the committee despite repeated invitations, while others had declined to submit the financial records requested by lawmakers.
“More concerning is that some have taken the position that they are under no obligation to appear before the committee or submit the requested information, notwithstanding the clear constitutional and statutory powers vested in the National Assembly to conduct oversight over the finances and administration of public institutions,” he stated.
Musa warned that continued disregard for the committee’s invitations amounts to a challenge to the constitutional oversight powers of the National Assembly and could weaken efforts to promote transparency and accountability in the management of public resources.
The Senate consequently resolved to consider invoking its constitutional authority to compel the affected institutions to appear before the committee and provide the necessary financial documents required for the investigation.
Senate Raises Concern Over Unimplemented Resolutions
In a related development, the Senate also expressed dissatisfaction with what it described as the persistent failure of several Ministries, Departments and Agencies to implement resolutions passed by the upper legislative chamber.
Lawmakers cited delays in executing resolutions relating to road rehabilitation, disaster management and other matters considered critical to improving the welfare of Nigerians.
The Senate said effective legislative oversight depends on the cooperation of public institutions and reiterated its commitment to ensuring accountability in the management of public finances and the implementation of government policies.
The ongoing investigation by the Senate Committee on Finance forms part of broader efforts by the National Assembly to strengthen fiscal discipline, improve revenue accountability and ensure compliance with Nigeria’s financial laws.
