Reps grill NRC over ₦12.91bn audit queries, threaten sanctions

The House of Representatives Public Accounts Committee grilled Nigerian Railway Corporation officials over unresolved financial discrepancies totaling about ₦12.91bn, warning that agencies found wanting in managing public funds would face sanctions. At a hearing on Monday, the committee, chaired by Deputy Chairman Jeremiah Umaru, scrutinized the NRC’s responses to three major audit queries involving unaccounted transfers, discrepancies in revenue, and alleged under-remittance of funds to the Consolidated Revenue Fund.

Managing Director Dr Kayode Opeifa represented the railway corporation. The committee expressed dissatisfaction with some explanations and documents, setting up reconciliation committees to determine the actual financial position and outstanding liabilities. Concerns arose over ₦6.62bn in transfers to outstations, ₦2.86bn discrepancy between revenue figures, and ₦1.71bn under-remittance.

The committee demanded additional documents and warned of imposing sanctions on agencies failing to meet financial responsibilities.