Reps query NRC over N12.9bn financial discrepancies

The House of Representatives Public Accounts Committee in Nigeria has raised concerns over financial discrepancies amounting to N12.91bn at the Nigerian Railway Corporation (NRC). During an investigative hearing, the committee questioned the corporation's handling of public funds, scrutinising audit queries related to unaccounted transfers to outstations, discrepancies in internally generated revenue, and alleged under-remittance of revenue to the Consolidated Revenue Fund.

The committee expressed dissatisfaction with the NRC's explanations and requested additional documents to determine the extent of the alleged financial infractions and outstanding liabilities. The committee has set up reconciliation committees to scrutinise records and establish how the funds were utilised, with lawmakers threatening sanctions for agencies found wanting in the management of public funds.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.