The House of Representatives Joint Committee on Public Accounts and Public Assets has threatened to issue a warrant of arrest against Central Bank of Nigeria (CBN) Governor Olayemi Cardoso for repeatedly failing to honor invitations to appear before the committee.
The committee is investigating alleged violations of the Fiscal Responsibility Act 2007 and the Finance Act 2020, particularly the remittance of operating surpluses and the management of unclaimed dividends and dormant account balances.
The committee resolved that the CBN should remit N3.64 trillion, being 70% of undisputed unpaid operating surplus, within 14 days and transfer all unclaimed dividends and dormant account balances to the Unclaimed Fund Trust Fund account as provided by the Finance Act 2020.
However, Cardoso has failed to comply with the resolution and refused to appear before the committee, prompting the lawmakers to warn that they would be compelled to make him appear in line with the powers vested in them by the 1999 Constitution.
