Reps Direct CAC, JAMB, Others To Remit N195bn To Govt Coffers

Reps Direct CAC, JAMB, Others To Remit N195bn To Govt Coffers

According to a report by Sunnewsonline, House of Representatives has directed CAC, JAMB and others to remit N195billion to government coffers.

House of Representatives has directed the Corporate Affairs Commission (CAC), the Joint Admission Matriculation Board (JAMB), Stanbic IBTC and First Bank to N195.9 billion hanging funds to the government coffers.

The chairman, House Ad-hoc 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), Unyime Idem, gave the directive at an investigative hearing organised by the panel, yesterday, in Abuja.

The panel, on Wednesday, had said it has so far uncovered over N300 billion unclaimed fund lodged in different commercial banks in the country.

Idem noted after reconciling the documents presented to it by the affected organisations, it discovered the cumulative sum to be paid into the government account by the four organisations stood at N195.9 billion.

He said: “We have taken five organisation, banks and MDAs of government and we have directed them to ensure some of those infractions, those amounts sitting in their coffers should be transferred to government even though we still have some pending reconciliation between the secretariat and those organisations. We have the balances that need to be transferred to the Federal Government, starting with CAC, they have N25 billion not remitted allowances.

“Then we have JAMB N64 billion not remitted 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 represents 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 the Federal Government.”

House spokesman, Benjamin Kalu, while briefing newsmen on the activities of the panel, said the committee will resume sitting on Tuesday. He charged MDAs and banks invited by the panel to ensure they honour the invite, noting that the House has the power to ensure compliance to its summons.

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