CBN Governor Summoned Over REMITA Revenue Leakages

On Tuesday, the House of Representatives’ Public Accounts Committee issued a directive for the Central Bank of Nigeria’s Governor, Olayemi Cardoso, to mandatorily present himself on March 5, 2024. This summons is in connection with alleged discrepancies linked to the electronic payment mechanism, REMITA.

The committee expressed frustration over Cardoso’s absence in prior meetings, which has significantly impeded the investigation into revenue discrepancies facilitated by REMITA.

“The Public Accounts Committee is vested with the authority to call upon any individual within Nigeria to testify, or to submit any document in their possession or control. Not adhering to this polite request might compel the committee to consider issuing an arrest warrant against you, pursuant to the Legislative Houses (Powers & Privileges Act 2017) (Sections 2 & 3) and the 1999 CFRN (as amended), following House Procedures. Therefore, the committee has decided to offer you one final chance to make an appearance,” stated the committee in a correspondence penned by the chair, Bamidele Salam.

A letter viewed by our reporter on Tuesday carried the title, “Regarding the Investigation of revenue discrepancies via REMITA platform and significant non-adherence to standard operating procedures and other related service level agreements 2023.”

The letter advised, “You are earnestly encouraged to seize this invitation and ensure your presence at the committee meeting without fail on Tuesday, March 5, 2024, at 10 am in Meeting Room 446, within the new annex of the House of Representatives. It is also recommended that you bring along any pertinent staff members who are well-versed with the matter at hand and could aid in addressing any inquiries that might emerge during the hearing.

“Please recall your delegation to the Public Accounts Committee on Tuesday, February 27, 2024, by an Assistant Director without an accompanying written authorization. Note that the committee does not accept representations. It is required that all principal accounting officers personally attend to justify their departments.”

The committee stated its discontent and reminded of the relevant sections 62 and 89(1) (a, b, c & d) & (2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), concerning this matter.