The Senate has given a 7 day ultimatum to the Central Bank of Nigeria, the Federal Inland Revenue Service, and other agencies defaulting in the submission of their income and expenditure account statements from 2017-2019 .
The Senate Committee Chairman on Public Accounts, Mathew Urhoghide, said the defaulting agencies are at huge risk of facing harsh sanctions.
According to him, none of them have responded to the committee’s request, despite several letters sent out.
Mr Urhoghide notes that his committee has been mandated by section 85 of the 1999 constitution to ensure accountability and judicious use of public funds to check corrupt practices.
Other defaulting agencies include the Federal Airport Authority, Asset Management Corporation of Nigeria and the Office of the Accountant General of the Federation, Federal Capital Territory Administration, Niger Delta Development Commission, Nigerian Investment Promotion Council, and National Agency for Science and Engineering Infrastructure.