The House of Representatives Public Accounts Committee has ordered the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Accountant-General of the Federation, Shamseldeen Ogunjimi, to appear on October 22 to address an outstanding N75bn debt to the Universal Basic Education Commission. The committee, led by Deputy Chairman Jeremiah Umaru, wants both officials to provide a definite repayment schedule and firm assurances on when the money will be returned.
The summons follows concerns about withdrawals and borrowing of funds from government agencies without clear repayment arrangements, prior notification or established guidelines. The committee stressed that public funds cannot be taken from one government institution to meet another's financial obligations without clear terms. Officials said such arrangements should include specific conditions and repayment periods, even without interest since the transfers occur between government entities.
The Accountant-General's office acknowledged the borrowings, describing them as internal arrangements to address funding shortfalls and meet statutory obligations. The office said efforts had been made to refund as much as N90bn, while more than N70bn remained outstanding. Personnel costs reportedly exceed N1 trillion monthly, the office stated.
The committee expressed concern that diverting funds meant for basic education could undermine the Universal Basic Education Commission's programmes across the country. Lawmakers also questioned the reported practice of deducting up to 50 per cent of some government agencies' revenues without a clearly established regulatory framework, saying such deductions have left agencies struggling to pay staff and finance operations.