Senate to Compel NNPCL, CBN, NUPRC, Others to Explain Revenue Remittances

The Senate has moved to compel revenue-generating agencies and government-owned enterprises that failed to honour invitations from its Committee on Finance to appear and account for revenues generated and remitted into the Consolidated Revenue Fund (CRF).

The move comes amid concerns over the non-appearance of some Ministries, Departments and Agencies (MDAs) before the committee during ongoing interactive sessions examining internally generated revenue and operating surplus remittances.

The Senate is expected to consider a motion seeking to compel the affected institutions to provide explanations over alleged non-remittances to the CRF between 2023 and 2025.

The proposed motion is expected to be sponsored by the Chairman of the Senate Committee on Finance, Senator Sani Musa (APC, Niger East).

Among the agencies expected to be invited are the Nigerian National Petroleum Company Limited (NNPCL), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Central Bank of Nigeria (CBN).

Other institutions listed include the Federal Radio Corporation of Nigeria (FRCN), Joint Admissions and Matriculation Board (JAMB), National Examinations Council (NECO), Federal Medical Centre, Jabi, Nigeria Deposit Insurance Corporation (NDIC), Nigerian Shippers' Council and the National Hajj Commission of Nigeria (NAHCON).

The Senate's decision followed a point of order raised by Senator Musa during Wednesday's plenary.

Musa expressed concern over what he described as the refusal of some government agencies to honour invitations issued by the Senate Committee on Finance as part of its ongoing review of revenue performance and statutory remittances.

The committee began an interactive review of the financial records of various government institutions at the beginning of last week.

The exercise is focused on assessing the extent to which agencies are complying with their obligations to remit internally generated revenue and operating surpluses to the Consolidated Revenue Fund.

The committee's review is also intended to provide lawmakers with a clearer picture of the country's revenue performance and identify potential gaps in the collection and remittance of public funds.

The Senate's planned action reflects growing concerns over revenue mobilisation and the financial pressures facing the Federal Government, particularly as the country seeks to improve non-oil revenue collection and strengthen fiscal sustainability.

The Consolidated Revenue Fund, into which specified government revenues are paid, remains central to the financing of federal government operations and public expenditure.

The Senate's intervention, however, is not yet a final determination that the named agencies failed to remit revenues. Rather, the planned summons are intended to compel the affected institutions to appear before the Finance Committee and provide explanations regarding their financial records and remittance obligations.

The committee is expected to scrutinise the agencies' revenue records, statutory obligations and payments into the CRF as part of the process.

The Senate's move also underscores the legislature's renewed focus on ensuring that government institutions comply with financial reporting and remittance requirements, particularly at a time when the Federal Government is under pressure to expand its revenue base and reduce fiscal gaps.

Should the proposed motion be adopted, the affected agencies will be required to explain their financial positions before the Senate Committee on Finance and respond to questions concerning revenues generated, amounts due to government and any sums already remitted.

The outcome of the exercise could provide further clarity on the scale of outstanding remittances, if any, and help determine whether additional measures are required to improve revenue collection and accountability across government institutions.