The House of Representatives on Thursday directed the Corporate Affairs Commission (CAC), the Joint Admission Matriculation Board (JAMB), Stanbic IBTC and First Bank to remit a total of N195.9 billion trapped in various commercial banks into the government coffers.
Chairman, Ad-hoc Committee on the recovery of N1.2 trillion unclaimed funds of Ministry, Department and Agencies (MDAs) in commercial banks, and the Central Bank of Nigeria (CBN), Hon. Unyime Idem, issued the directive in Abuja, during the resumed investigative hearing.
The Ad-hoc Committee had during the last sitting disclosed said it has so far uncovered over N300 billion in unclaimed funds lodged in different commercial banks in the country.
Hon. Idem noted after reconciling the documents presented to it by the affected organizations, it discovered that the cumulative sum to be paid into the government account by the four organizations stood at N195.9 billion.
According to him, “we have taken five organisations, banks and Ministries, Departments and Agencies (MDAs) of government and we have directed them to ensure that some of those infractions, those amounts sitting in their coffers should be transferred to the government even though we still have some pending reconciliation between the secretariat and those organizations.”
He added that “we have the balances that need to be transferred to the federal government, starting with Corporate Affairs Commission( CAC), they have N25 billion unremitted allowances.
“Then we have JAMB N64 billion unremitted allowance, then Stanbic IBTC bank, they have N3.2 billion, also intervention funds, about N84 billion, though we are still going through reconciliation; but these amounts represent the outstanding that need to be transferred to the Federal Government.
“Then lastly, First Bank of Nigeria, we have about N14.7 billion that they need to remit to Federal Government.”
The House spokesman, Benjamin Kalu, while briefing journalists, on the activities of the panel, said the committee will resume sitting on Tuesday.
Hon. Kalu, therefore, tasked all the MDAs and banks invited by the Ad-hoc Committee to honour the invitation, noting that the House has the power to ensure compliance through summons.
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