NEWS
Reps Investigate Remittances by CBN, NNPC to FG
The House of Representatives Public Accounts Committee has stepped up investigation into revenue remittances by federal agencies into the Federation Account.
Consequently, the house directed the Office of the Accountant-General of the Federation to submit a detailed account of outstanding operating surplus and other revenues allegedly owed to the Federal Government by the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPC Ltd), and other government-owned enterprises.
The committee also demanded explanations over allegations that the Office of the Accountant General of the Federation (OAGF) deducted funds from the statutory accounts of several Ministries, Departments and Agencies, including the reported withdrawal of N15bn from the Universal Basic Education Commission (UBEC), raising concerns that the practice may have hampered the agencies’ ability to carry out their statutory mandates.
The directives were issued during an investigative hearing at the National Assembly, where the Accountant-General of the Federation (AFG), Shamseldeen Ogunjimi, appeared alongside senior officials of the Treasury.
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The hearing forms part of the committee’s broader oversight of public finances and compliance with the Fiscal Responsibility Act, which requires government-owned enterprises to remit a prescribed percentage of their operating surplus to the Consolidated Revenue Fund.
The operating surplus regime is intended to strengthen government revenues and curb leakages, but compliance has remained a recurring concern, with several agencies accused over the years of either under-remitting or failing to remit altogether.
Opening the discussion, a member of the committee, Gboyega Isiaka, expressed concern over Nigeria’s weak revenue performance, arguing that poor remittance compliance continued to undermine the country’s fiscal position.
Addressing the nation’s top accountant, the lawmaker said, “Considering our GDP, ours is one of the lowest on the continent, at about 16 percent. Business entities are expected to return about 80 percent of their operating surplus, while others remit between 20 and 50 percent.
“From everything we are seeing, there still appears to be a backlog of remittances. Can you provide some figures? Beyond that, as a member of the economic management team, how satisfied are you with the performance of agencies such as the CBN, SEC, NIMASA, and others, considering the scale of assets they manage?
“It is not enough to say they remitted 80 percent of their surpluses. What exactly is the surplus they are declaring? We need to examine that against the assets under their control, as well as the revenues they ought to have paid but have not.”
Responding, the Director of Revenue and Investment at the OAGF, Makinde Mogaji, disclosed that the CBN allegedly owed the Federal Government N5.3tn in unremitted operating surplus.
He said previous efforts by the Public Accounts Committee to recover the funds had not yielded results. “Early last year, the CBN was owing the Federal Government N5.3tn as operating surplus. Despite the efforts of the Public Accounts Committee to recover the money, it has not been paid.
“Seventy percent of that amount ought to have been remitted, but the CBN refused to pay. That is just one of our major sources of revenue. In contrast, an agency like FAAN has remitted N473bn,” he said.
The hearing also examined the OAGF’s policy of automatic deductions from the accounts of MDAs, a mechanism introduced to recover anticipated operating surplus before the end of the fiscal year.
Defending the policy, Ogunjimi said it had significantly improved government revenue collections. “That was an ingenious way of taking, in advance, what was due to the government, and it helped us generate substantial revenue last year,” he said.
He, however, acknowledged that the policy attracted resistance from some agencies, leading to reviews and reversals in certain cases.
“When we introduced the initiative and generated significant revenue, some agencies sought reversals. Some went to the President, arguing that the deductions were excessive. In some cases, the deductions were cancelled entirely; in others, they were reduced.
“We have continued to manage those issues, which is one reason we have not been able to sustain the level of collections achieved last year. There were also instances where agencies such as the NNPC refused to cooperate to the extent that they had to be asked to leave because of their non-compliance. While NNPCL accepted some of the liabilities, it disputed others, and those issues are still being considered by a post-mortem committee.”
Providing further clarification, Mogaji said the auto-deduction framework remained operational and was designed to reconcile agencies’ actual operating surplus after their accounts had been finalised.
“Yes, the auto-deduction system introduced last year is still in operation. It is designed to recover operating surplus in advance, after which agencies compute their actual surplus to determine whether they have been over-deducted or owe additional remittances. The figures we currently have are still subject to reconciliation and should not be regarded as final,” he explained.
The committee, however, questioned the legality and implications of deductions from the accounts of agencies established to deliver essential public services.
The Chairman of the Committee, Bamidele Salam, cited petitions from UBEC and several other agencies alleging that statutory funds had been withdrawn without prompt reimbursement.
“There is an ongoing investigation involving UBEC and other agencies. UBEC claimed that funds approved under its November 2025 Authority to Incur Expenditure were not released by the Accountant-General. It also alleged that N16bn and another N15bn were taken from the commission’s account without refund.
“We are concerned about these deductions from statutory allocations to critical government institutions. It is not only UBEC. NASENI raised similar complaints involving over N70bn, and several other agencies have also made similar allegations. So, what is the justification?” he asked.
Responding, Ogunjimi maintained that the withdrawals were temporary and undertaken only to meet urgent government financing needs, with the understanding that the funds would be refunded when required.
“There have been occasions when the government needed to meet critical financial obligations, and we temporarily utilised funds belonging to some agencies. It is essentially a loan, and we have been refunding those agencies.
“The Accountant-General cannot arbitrarily withdraw money from agencies’ accounts. We first analyse how long the funds have remained idle, acting on directives from the Honourable Minister. If funds have remained unutilised for several months and the government urgently requires financing, we temporarily deploy them and refund the money when the agency needs it.
“For example, we utilised over N300bn belonging to TETFund and subsequently refunded the entire amount. Whenever an agency requests its funds for approved projects, we process the refund,” he added.
Salam, however, rejected the explanation, insisting that statutory agencies should not be deprived of funds appropriated by law for their programmes.
“Which agencies have actually been refunded? UBEC is complaining, NASENI is complaining, NBC is complaining, and several others currently under investigation have made similar claims. Their major grievance is that funds are withdrawn from their accounts, leaving them unable to carry out the responsibilities for which the money was appropriated.
“Take UBEC, for instance. We all know the consequences of neglecting basic education, particularly in northern Nigeria. We have about 13.5 million out-of-school children.”
According to Salam, “UBEC is expected to build schools, provide infrastructure, and supply instructional materials. It cannot effectively discharge those responsibilities if its statutory funds are diverted to other purposes.”
The committee subsequently directed the OAGF to submit detailed records of outstanding operating surplus owed by the CBN, NNPCL and other government-owned enterprises, as well as documentation showing deductions made from MDA accounts, refunds already effected and outstanding balances.
The investigation is expected to continue in the coming weeks as lawmakers seek to determine the extent of compliance with the Fiscal Responsibility Act, recover outstanding revenues due to the Federal Government, and establish whether the deductions from statutory agency accounts were carried out within the ambit of the law.
The Petroleum Technology Development Fund (PTDF) said it has sponsored nearly 15,000 Nigerians for studies at home and abroad, with 1,571 scholars currently studying in 15 countries, as of July 2026.
This is as the Fund is now asking the United Kingdom (UK) to help address visa rejections, high tuition fees and the monitoring of its scholars, which it says are putting pressure on the programme.
The executive secretary of the Fund, Prof Shu’aibu Shehu Aliyu, made the request on Tuesday at a meeting with the British High Commissioner to Nigeria, Pete Vowles. The meeting was held at the General Shehu Musa Yar’adua University of Geological Sciences and Engineering Technology, Kaduna.
According to Aliyu, the Fund had sponsored the beneficiaries through its Overseas Scholarship Scheme and In-Country Scholarship Scheme, for undergraduate and postgraduate studies.
He said that as of July 2026, 1,571 scholars were studying in 15 countries and more than 120 partner institutions. He added that demand for PTDF scholarships was still rising.
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The executive secretary said the UK had for decades been the Fund’s main partner in building skills for Nigeria’s energy sector.
He said the PTDF worked with 24 British universities, including Robert Gordon, Strathclyde, Portsmouth, Aberdeen, Newcastle, Birmingham, Glasgow, Leicester, Liverpool and Manchester.
He said the partnership had helped train thousands of Nigerian engineers, geoscientists, researchers and energy professionals.
Aliyu also said the Fund worked with institutions in Germany, France and Malaysia, where it sought cheaper ways to train Nigerians. He said the Fund still wanted to keep its long-standing ties with the UK.
The ES told the High Commissioner that the Fund was facing problems with its UK partners. He listed these as tuition fees that were high compared with other European countries, and visa rejections.
“I would like to take this opportunity to highlight several challenges we are facing with our UK partners for the High Commissioner’s attention,” he said.
He said the Fund also wanted a plan to monitor its scholars in the UK, with support from the UK government and the host universities.
Aliyu did not give figures for the fee increases or the number of visa rejections.
In response, Vowles said the British High Commission understood the difficulties, especially those linked to visas and increases in tuition fees.
“We will take these concerns away as a team and communicate them to the relevant stakeholders within the UK system,” he said.
The High Commissioner said the PTDF and the High Commission had worked together to simplify the process. He said the PTDF’s recognition as a government-approved sponsor was expected to help.
“Having the PTDF recognised as a government-approved sponsor will hopefully make the process much smoother,” he said.
He did not promise any change in fees or visa rules.
The Lagos State Government has warned healthcare providers against denying emergency medical treatment to patients because of financial constraints, insisting that patients must be stabilised before payment or health insurance details are discussed.
Governor Babajide Sanwo-Olu gave the warning on Wednesday while flagging off the enforcement of Executive Order EO/BOS/01 of 2024 and unveiling the Lagos Private Health Plans (LPHP).
The governor said the policy was designed to protect residents from the financial burden of unexpected medical expenses and ensure that access to healthcare does not depend solely on their ability to pay when illness or an emergency occurs.
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“We are also setting a firm boundary for all healthcare providers, no hospital in Lagos is permitted to turn away anyone needing emergency care due to financial constraints,” Sanwo-Olu said.
“Patients must be stabilized first before any payment or insurance details are discussed,” he added.
Under the arrangement, Lagos residents have until December 31, 2026, to obtain health insurance coverage, with formal enforcement scheduled to begin on January 1, 2027.
Explaining the need for the policy, the governor said rising healthcare costs had made reliance on direct payments during emergencies increasingly difficult for families.
“Healthcare costs are rising rapidly and relying on cash payments when an emergency strikes simply does not work,” he said.
“We are changing that system today so that quality care is accessible to all without putting your life savings at risk.”
The initiative introduces the Lagos Private Health Plans to extend insurance coverage to salaried workers and corporate organisations, complementing the existing Ilera Eko scheme, which caters to vulnerable residents and people working in the informal sector.
According to Sanwo-Olu, 21 Health Maintenance Organisations (HMOs) have already joined as partners to expand coverage across the private sector.
Lagos Increases Health Equity Fund to ₦3bn
As part of efforts to ensure that low-income residents are not excluded from healthcare coverage, the state government has increased its Health Equity Fund from ₦1 billion to ₦3 billion.
Sanwo-Olu said the expanded fund would enable the government to pay insurance premiums directly for more than 500,000 residents who cannot afford coverage on their own.
“To ensure no one is left behind, we tripled our Health Equity Fund from ₦1 billion to ₦3 billion,” he said.
“This allows us to pay premiums directly for over 500,000 residents who cannot afford insurance on their own.”
The governor also emphasised that employers must take responsibility for the healthcare coverage of their workers, describing it as a mandatory obligation comparable to pension contributions.
“To our business owners and employers, employee healthcare is not an optional extra, it is a mandatory responsibility just like pensions,” he said.
He added that strengthening healthcare financing would help retain medical professionals in the country.
“To our doctors and medical professionals, strengthening our healthcare financing builds the solid foundation we need to keep your talents right here at home,” Sanwo-Olu said.
The governor maintained that the reform would help families avoid financial hardship caused by unexpected medical bills while encouraging more residents to seek treatment when necessary.
“We are protecting families from the burden of unexpected medical bills, helping more people seek care when they need it and building a healthcare system that works for everyone,” he said.
He added: “No one should have to choose between getting medical care and protecting their household finances.”
With the December 31 deadline approaching, residents, workers and employers are expected to obtain the required health insurance coverage before formal enforcement begins on January 1, 2027.
Sanwo-Olu said the ultimate objective was to build a healthcare system in which quality medical services were accessible and affordable to residents across the state.
The Federal Government and the Nigeria Labour Congress (NLC) have agreed on a ₦70,000 monthly transport allowance for workers for six months, beginning in November 2026, but failed to resolve their disagreement over the effective date for implementing the national minimum wage.
The agreement was reached at a conciliation meeting between the Federal Government and organised labour at the Ministry of Labour and Employment in Abuja on October 27, 2026.
The transport intervention is part of measures proposed by the Federal Government to cushion the effects of rising petroleum pump prices and the resulting pressure on workers’ finances.
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Under the resolutions reached at the meeting, the government will provide the monthly transport allowance for six months, beginning in November.
However, despite the agreement on transport support and other welfare measures, the minimum wage implementation date remains unresolved.
FG, NLC to Begin Minimum Wage Negotiations
As part of efforts to address the disagreement, the meeting agreed that the Minimum Wage Negotiation Committee should be constituted and commence meetings immediately.
The move is expected to provide a platform for further discussions between the government and organised labour on workers’ minimum wage demands.
The failure to agree on an implementation date leaves the issue open even as both parties pursue other measures aimed at easing the financial pressure on Nigerian workers.
FG Agrees to Pay Outstanding Allowances
The resolutions also provide for the payment of peculiar allowance arrears in three equal monthly instalments beginning in November 2026.
For health workers, the Federal Government agreed to redeem 19 months of outstanding allowances within three months, starting in December 2026.
The meeting also addressed the proposed hazard allowance for agricultural officers.
According to the resolutions, the Federal Ministry of Agriculture and Food Security had submitted the list of beneficiaries and the associated cost implications to the National Salaries, Incomes and Wages Commission for verification.
The commission is expected to complete the verification exercise within two weeks and issue an implementation template.
Decision on Health Workers’ Salary Adjustment Pending
The proposed adjustment to the Consolidated Health Salary Structure (CONHESS) was also discussed during the meeting.
The National Salaries, Incomes and Wages Commission is expected to complete an updated assessment of the cost implications within three weeks.
The assessment will be forwarded to the Presidential Committee on Salaries for consideration.
No final decision on the proposed adjustment was announced in the resolutions.
Tax Relief Referred to NEC
On tax relief for workers, the meeting agreed that the matter should be referred to the National Executive Council (NEC) for consideration.
The resolutions stated that, “Since tax is a statutory matter, the issue of tax relief for workers will be taken to National Executive Council (NEC).”
The meeting did not specify the proposed tax relief measures or when a final decision would be made.
FG, NLC to Review Implementation
The Federal Government and the NLC also urged state and local governments to participate in the intervention process.
The parties agreed to reconvene after one month to assess progress on the resolutions reached at the meeting.
The agreement was signed on behalf of the Federal Government by the Minister of Labour and Employment, Dr Muhammad Maigari Dingyadi; the Director-General of Budget, Timi Yakubu; and the Permanent Secretary of the Service Welfare Office in the Office of the Head of the Civil Service of the Federation, Dr Garba Abdul S.U.
NLC President, Comrade Joe Ajaero, signed on behalf of the Congress, while Olowoyo Gbenga signed for the Joint National Public Service Negotiation Council (JNPSNC).
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