Federal fiscal accountability probe summons finance minister, CBN governor

House committees summon Finance Minister Wale Edun and CBN Governor Olayemi Cardoso over unremitted surpluses, lapses and stalled major projects nationwide

Federal fiscal accountability probe is intensifying as the Joint House of Representatives Committees on Public Accounts and Public Assets summon Finance Minister Wale Edun and Central Bank Governor Olayemi Cardoso.

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They must explain why the bank and several ministries failed to remit their operating surpluses for six years.

Auditor General reports show internal control weaknesses that, if unchecked, could deny the federation billions needed for essential services.

Mr Salam, who co chairs the accounts committee, said the hearing will protect public money. “We are determined to trace every naira and hold every agency to account,” he told reporters after delivering the invitation letters.

The committees earlier gave the ministry and the bank additional time to reconcile their books yet they have not produced an agreed figure. Lawmakers now want a final public session on Monday to close the gaps.

They will study audit findings that many government projects in Abeokuta, Dutse and other towns remain unfinished despite full payment.

Citizens have grown impatient with structures that lie idle while inflation erodes household budgets.

Public hearings promise rare transparency and could set a precedent for stricter fiscal discipline across the administration.

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If the panel confirms serious breaches it may recommend refunds, sanctions and a fresh audit cycle. Monday’s meeting will be streamed live, giving taxpayers a clear view of how their money was handled.

Oreoluwa Ojelabi