The House of Representatives has threatened to issue an arrest warrant against the Governor of the Central Bank of Nigeria, Olayemi Cardoso. This follows the CBN governor’s repeated failure to appear before a joint committee probing compliance with fiscal laws.
The lawmakers said the CBN is yet to remit ₦3.64 trillion in operating surplus to the federal government—part of a reported ₦5.2 trillion backlog covering the years 2016 to 2022. They also accused the apex bank of ignoring resolutions on the handling of dormant accounts and unclaimed dividends.
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A legal opinion by the Attorney-General was cited to reinforce that the Finance Act 2020 governs such funds, contrary to the CBN’s position. The lawmakers say the CBN must comply within 14 days or face sanctions.
The Central Bank has not officially responded to the allegations. The House committees insist their action is guided by the constitution and aimed at ensuring accountability.
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