The Senate on Wednesday resolved to summon the Central Bank of Nigeria, the Nigerian National Petroleum Company Limited and about 40 other Ministries, Departments and Agencies over their alleged failure to honour invitations to account for public funds.
The resolution followed a motion by the Chairman of the Senate Committee on Finance, Senator Sani Musa, who accused several government agencies of frustrating legislative oversight by refusing to appear before the committee investigating revenue remittances, operating surpluses and compliance with the Fiscal Responsibility Act and other financial laws.
Musa said the committee was acting within its constitutional powers under Sections 88 and 89 of the 1999 Constitution (as amended), which empower the National Assembly to investigate the finances and administration of public institutions.
“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,” he said.
He explained that the exercise was aimed at scrutinising internally generated revenue, stamp duty collections where applicable, operating surpluses and statutory remittances into the Consolidated Revenue Fund.
