Categories: News

JAMB, CAC, Commercial Banks Owe FG N190.7bn In Unclaimed Funds — Reps

The House of Representatives Ad-hoc Committee has disclosed that the Joint Admissions and Matriculation Board (JAMB) and the Corporate Affairs Commission (CAC), First Bank and Stanbic IBTC Bank are allegedly owing the federal government N190.7 billion out of the total N1.2 trillion.

The Ad-hoc committee is investigating N1.2 trillion unclaimed Funds in Nigerian commercial banks and MDAs belonging to the federal government as well as infractions of the Central Bank of Nigeria (CBN).

Chairman of the Committee, Unyime Idem said, “The following organisations have the following balances they need to transfer to the federal government starting with the Corporate Affairs Commission (CAC), they have N25 billion unremitted to the federal government.

“Then we have JAMB who have N64 billion unremitted amount. Also, we have Stanbic IBTC Bank which is to remit N3.2 billion and then intervention funds of about N84 billion though we are still going through reconciliation. Lastly, First Bank of Nigeria they have about 14.7 billion they need to remit to the federal government.”

Idem said about 120 agencies are yet to submit documents or appeared before the Committee despite being invited.

It could be recalled that the Committee had disclosed at its sitting on Wednesday, that it has discovered about N300bn of such funds and is poised to ensure their recovery and remittance to government coppers.

However, in a statement by Citibank Nigeria Limited (Citi) Country Head of Public Affairs, Lola Oyeka, noted that the bank has provided extensive evidence to the House of Representatives Ad-Hoc Committee on Unclaimed Funds in Nigeria Commercial Bank and the Infractions by the Central Bank of Nigeria.

hvzclarence

Recent Posts

Rivers Crisis: Why Arsonists Attack LG Secretariats – Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has attributed the recent attacks…

4 hours ago

Adabanija: Over 10 People Arrested For Allegedly Criticising Oyetola

 Posts Capable Of Inciting People Against Minister – Loyalists Oyetola’s Aides Behind My Incarceration -…

6 hours ago

Mother Cries For Help As Vigilante Operatives Allegedly Torture, Rape 15-Year-Od  Daughter

..Alleges Police Of Foul Play The Mother of a 15-year-old girl, Helen Joseph, has called…

7 hours ago

Couple Remanded For Maltreating Minors

A couple, Abubakar Yuguda and Fatima Abubakar, were remanded on Tuesday by Chief Magistrate Musa…

7 hours ago

Kaduna Health Workers Begin Indefinite Strike

Health workers in Kaduna State, represented by three prominent professional organizations—the National Association of Nigerian…

7 hours ago

How 84 Nigerian Lecturers Died In Three Months Over Economic Hardship

No fewer than 84 Nigerian lecturers have died between May to August 2024 due to…

9 hours ago

This website uses cookies.