Yesterday, the House of Representatives got into a raucous session because someone wanted Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), to appear before them. The dispute revolves around the bank’s supposed failure to remit N5.2 trillion in operating surpluses and N11.09 trillion in revenue, for a total of N16.3 trillion from 2016 to 2022.
According to Daily Trust, the chairman of the public accounts committee (PAC), Hon. Bamidele Salam (PDP, Osun), made the motion accusing the central bank of not fulfilling its statutory duties to pay the federal government its operational surpluses and other federally collected income.
According to Salam, who was presenting the motion titled: “Non-remittance of over Five trillion naira operating surplus and eleven trillion Naira government revenue by the Central Bank of Nigeria (CBN)”, the PAC’s investigations into the 2022 Auditor-General’s report and the Remita revenue collection system from March 2015 to April 2016 revealed numerous violations.
Claiming to have an uncontested liability of N5.2 trillion in unpaid operating surpluses from 2016 to 2022 and to have failed to refund N954.3 million in collected charges, the committee now estimates the amount to be N3.28 billion (including accrued interest) using the current Monetary Policy Rate.
The motion went on to mention that the PAC’s income statistics differed by N11.09 billion from the CBN’s revenue figures, and that there was also a distinct shortage of N2.68 trillion in migration that was supposed to be paid to the federal government’s Asset Recovery Account.
At a time when the country is dealing with falling finances, increasing instability, and urgent infrastructure requirements, Salam is seen unacceptable.
A congressman has voiced their displeasure that the CBN Governor has willfully disregarded the PAC’s formal invitations and directions to explain and transfer the disputed sums.
On Tuesday, December 16, 2025, at 11:00 a.m., he proposed a resolution to have the CBN Governor come before the entire House to clarify the supposed non-remittances and offer a realistic strategy for the prompt deposit of all overdue sums into certain government accounts.
Unfortunately, things got out of hand when Hon. Ghali Mustapha Tijjani, a legislator from Kano, proposed an amendment suggesting that the CBN governor should instead testify before an ad-hoc committee of the House. This proposal was met with acclaim from many members, but it did not prevent the session from becoming disruptive.
In response to Salam’s original resolution, Hon. Ahmed Jaha (Borno, APC) amended it to call on the House to call a meeting of the Public Accounts Committee with the CBN Governor and representatives from other pertinent agencies.
There was near-chaos as several legislators tried to yell down the amendment in response to its introduction.
The presided over event, Speaker Abbas Tajudeen, had difficulty keeping the peace despite repeated requests that members act appropriately.
He cautioned the group not to “embarrass the institution.”
You sound like you’re trying to assert your entitlement by yelling out the question.
This does not represent the conduct of a respectable member. Here we stand, visible to everybody.
He warned individual legislators, such as Hon. Mark Esset and Hon. Kabir Maipalas, that they would face disciplinary measures if the disturbance persisted.
There will be consequences for your actions if you do not cease them. “You are pressuring me to set an example in this House, and I do not want to do it.”
Calling for a vote was not contentious, the Speaker said, and he urged members to follow proper parliamentary process.
Hon. Akin Alabi (Oyo) seconded Abbas’ restatement of Jaha’s proposed amendment after he restored order.
Once the subject was finally put to a vote, the chamber erupted in cries of “aye” and “nay” once more, prompting the Speaker to restate the question twice before finally succumbing to the “aye” sentiment.
The House has called a meeting of the Public Account Committee on December 16 to call the Governor of the Central Bank of Nigeria and other officials in charge of the administration of the Remita revenue program in response to the motion and its amendment.
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