Tension Erupts in House of Representatives Over ₦16 Trillion CBN Probe

A dramatic scene unfolded in the House of Representatives on Wednesday as lawmakers clashed bitterly over a motion to investigate the Central Bank of Nigeria (CBN) for allegedly failing to remit a staggering ₦16 trillion in federal revenues.

The usually orderly chamber quickly descended into shouting, arguments, and near physical confrontation as members disagreed on how the probe should be handled.

The uproar began after Public Accounts Committee (PAC) Chairman, Bamidele Salam, presented findings suggesting that the CBN owed the federation over ₦5.2 trillion in unremitted operating surplus, along with an additional ₦11 trillion linked to discrepancies in revenue collected through the government’s Remita payment platform.

His committee sought full investigative authority to summon the CBN Governor and demand all relevant financial documentation.

However, the motion immediately met resistance. Several lawmakers argued that a matter of such magnitude required a broader, special ad-hoc committee rather than leaving it solely in the hands of PAC. They claimed that combining members from other finance-related committees would bring more transparency and oversight.

Opponents of the amendment dismissed the suggestion as an attempt to dilute PAC’s constitutional mandate, insisting that the committee was already empowered to handle audits of public accounts.

The disagreement quickly escalated into a heated exchange. Lawmakers shouted at one another, traded accusations, and ignored repeated attempts by the Speaker, Tajudeen Abbas, to restore order.

Visibly frustrated, the Speaker condemned the conduct as “unparliamentary,” warning members that continued indiscipline could attract sanctions from the House Committee on Ethics and Privileges.

After several tense minutes, tempers cooled when those pushing for an ad-hoc committee withdrew their proposal. With the chamber settled, the House adopted the original motion authorising the Public Accounts Committee to proceed with the investigation and mandating the CBN Governor to appear before the committee.

The probe is expected to focus on reconciling the alleged unremitted operating surplus and addressing the substantial gaps identified in Remita transactions.

Lawmakers say the findings could have far-reaching implications for government revenue tracking and public trust in Nigeria’s financial management institutions.

As the nation looks ahead to the next steps, attention now shifts to the CBN’s expected appearance before the committee — a session many observers predict could shed light on one of the most significant financial accountability questions raised in recent years.