Senate Threatens Sanctions Against CBN, NNPCL, 40 MDAs Over Revenue Probe
The Senate has threatened to invoke its constitutional powers against the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL), and about 40 other Ministries, Departments and Agencies (MDAs) for repeatedly failing to honour invitations by its Committee on Finance investigating revenue remittances and compliance with fiscal laws.
The resolution followed a motion sponsored by the Chairman of the Senate Committee on Finance, Senator Sani Musa (Niger East), who accused several revenue-generating agencies of frustrating legislative oversight by refusing to appear before the committee or submit requested financial records.
According to Musa, the committee’s investigation, conducted pursuant to Sections 88 and 89 of the 1999 Constitution (as amended), focuses on internally generated revenue, operating surpluses, stamp duty collections and statutory remittances into the Consolidated Revenue Fund (CRF). He alleged that many agencies had ignored repeated invitations despite the constitutional powers of the National Assembly to investigate public finances.
He further accused several MDAs of violating the Fiscal Responsibility Act and the Finance Act 2022 by retaining revenues that should have been remitted to the Federal Government. The lawmaker alleged that some agencies had withheld government funds since 2020 and would be required to account for the money after reconciliation by the Fiscal Responsibility Commission.
Backing the committee, Senate President Godswill Akpabio dismissed claims by some agencies that Senate committees lacked the authority to summon them, insisting that the powers of the National Assembly are clearly guaranteed by the Constitution. He directed the Finance Committee to present a substantive motion empowering the Senate to compel the attendance of all defaulting agencies.
Akpabio warned that any agency that continues to disregard legislative summons would face constitutional consequences, stressing that the Senate would not allow its oversight responsibilities to be undermined.
The agencies listed for summons include the CBN, NNPCL, Federal Airports Authority of Nigeria (FAAN), Nigerian Civil Aviation Authority (NCAA), Nigerian Maritime Administration and Safety Agency (NIMASA), Office of the Accountant-General of the Federation, Nigerian Railway Corporation (NRC), Transmission Company of Nigeria (TCN), Nigerian Electricity Regulatory Commission (NERC), Nigerian Ports Authority (NPA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Joint Admissions and Matriculation Board (JAMB), National Examinations Council (NECO), National Inland Waterways Authority (NIWA), Nigeria Deposit Insurance Corporation (NDIC), Nigerian Communications Satellite Limited (NIGCOMSAT), National Insurance Commission (NAICOM), Nigeria Social Insurance Trust Fund (NSITF), National Oil Spill Detection and Response Agency (NOSDRA), alongside several other government agencies.
The Senate subsequently adopted the motion through a voice vote, paving the way for the issuance of formal summons as lawmakers intensified efforts to strengthen fiscal discipline, transparency and accountability in the management of public resources.
In a related development, the Red Chamber also warned that Ministries, Departments and Agencies that fail to implement Senate resolutions could face budgetary sanctions. The warning followed the adoption of a report by the Senate Committee on Legislative Compliance, which found that many resolutions passed between July 2023 and December 2025 had either been delayed or ignored.
Presenting the report, Chairman of the committee, Senator Garba Maidoki (Kebbi South), expressed concern over the persistent failure of several MDAs to comply with Senate directives, particularly on road rehabilitation, disaster management and other matters affecting Nigerians. He attributed the delays partly to executive inaction and the failure of some agencies to provide compliance reports.
The committee recommended the imposition of budgetary and other sanctions on defaulting agencies to improve compliance, while Senate President Akpabio commended the report and urged lawmakers to study its recommendations carefully before the Senate adopted it through a voice vote.