About N400bn paid by end users of products didn’t hit TSA accounts — Rep Salam

…gives update on recovery of N200bn from oil firms, challenges

…harps on roles of media, CSOs in holding govt accountable

Chairman of the House of Representatives’ Committee on Public Accounts, Rep. Bamidele Salam, on Wednesday, disclosed that about N400 billion paid by end users of products did not get to the Treasury Single Account (TSA).

He noted that this was discovered during the legislative intervention initiated into TSA,  as well as the recovery of over N200 billion owed by some oil and gas companies operating in the country.

Rep Salam gave the details during the closing plenary session at the just concluded 2025 National Conference on Public Accounts and Fiscal Governance,  with the theme: ‘Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development’, organised by the Senate and House of Representatives’ Committees on Public Accounts.

He explained that “Office of the General for the Federation submitted a report to the Public Account Committee indicating that there are monies under oil, royalties, concessional rentals, gas penalties that have been owed to the Federation account from the year 2021, running to trillions of naira.

“And we wrote a letter to the NUPRC to provide all the details of those who are sitting on the money.

“And it was on the basis of that that we have 57 oil and gas companies listed as owing this money to the Federation Account.

“And then we began the investigation. And then, you know, the recoveries began to come in.

“But as good as that news is, Sir, as we speak, there are almost 14 of those companies that have consistently refused to respond to invitations for records, invitations for documents, and appearances.

“And, sir, some of these companies are being owned by the high and the mighty in this country. We can’t mention names so that we don’t also judge them by high and the mighty.

“And that is just one sector, like you said. With the investigation, you said, it’s not good. There’s one particular agency of government that the law says this oil and gas company should be paying 1% of their taxes to. You should know the company I’m talking about now. And this law was passed 11 years ago.

“As we speak, there are some of these companies that have not paid once,” he noted with grave concern.

While reflecting on the investigation launched into the TSA via the REMITA platform, Rep. Salam said: “Believe it or not, we have a resource challenge even in doing this work. We hired a team of consultants on the REMITA investigations.

ALSO READ: Alleged $4.5bn fraud: Emefiele seeks forensic review of WhatsApp chats

“The REMITA investigations disclosed monies running into trillions of Naira.

“At least about N400 billion are charged that were paid by end users of products that did not hit TSA accounts.

“We have that report submitted already before the House. Trillions of Naira on some other heads,” he noted.

To tackle the menace of corruption in the country, he expressed support for the adoption of budget tracking and monitoring platforms in the bid to ensure accountability.

He maintained that: “the fear of the public that drives most government institutions to do the right thing. At the same time, we empower our civil societies to do much more, the media to do much more because there is no way you can have a country as big as this, as complex as this, that you will not have people that want to exploit one loophole or the other in doing things of their own. 

“But it’s my conviction that if you have a very active, very honest civil society and media, a lot of people in public offices will be put on their toes because just like, you know, the EFCC, ICPC and NFIU is watching on you. But when you have a compromised civil society, a compromise of careful media, that’s where the problem comes from. 

“So I think that what we should aim to do is to improve on these structures, on these platforms and let them be more owned by a civil society. That is one way to get it right.”

ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE