CBN claims lack of records of unremitted funds to government

OrderPaperToday – The Central Bank of Nigeria (CBN) has claimed that it has no records of under-remittance and unremitted funds by revenue generating agencies of the federal government.
The CBN made this position known at the commencement of a public hearing into non-remittance and under-remittance of revenues by relevant agencies of government on Tuesday.
The bank’s Director of Banking Services, Dipo Fatokun, who was represented by Jack Okituetu, an acting director told the hearing that “we don’t have any record of under remittances as CBN is simply a government bank.
“We’ve never falsified reports as all the revenue (generating) agencies have access to their various accounts and we are not also a revenue collecting agency of government.”
This disclosure forced the the ad-hoc committee anchoring the hearing to demand for a comprehensive list of all mandates given to the apex bank while directing relevant agencies like the Nigerian Communications Commission (NCC) to provide necessary details on Thursday.
Before declaring the hearing open, Speaker of the House of Representatives, Yakubu Dogara, charged the ad-hoc committee to avoid any cover up or connivance.
He expressed worries about repeated allegations of non-remittances of huge amounts of revenue by agencies required to generate and fund public expenditure.
Delivering his speech, chairman of the ad-hoc committee, Mr. James Faleke (APC, Lagos) noted that the current state of affairs in the country shows a crunch and cash-strapped economy that seems to be crawling at a slow pace out of recession.

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