Reps Summon DMO, TCN Over Audit Queries

The House of Representatives Public Accounts Committee will question senior officials of the Debt Management Office and the Transmission Company of Nigeria on Monday and Tuesday over queries raised in the 2024 Auditor-General for the Federation’s report.

The hearings form part of the committee’s efforts to enforce financial accountability among government agencies and ensure compliance with public financial regulations.

The committee, chaired by Bamidele Salam, who represents Ede North/Ede South/Ejigbo/Egbedore Federal Constituency of Osun State, is expected to examine alleged irregularities involving government borrowing and the recovery of outstanding debts owed to the Nigerian Government.

A notice of invitation dated September 29, 2026, directed the agencies to submit relevant documents ahead of their appearances. The notice stated that both agencies should submit “all requested documents to the committee’s secretariat in Hearing Room 4, White House, House of Representatives, at least 72 hours before their scheduled appearances.”

It also required “the accounting officers and relevant subject matter experts of both agencies to attend the hearings at 1 pm in Hearing Room 446.”

DMO to Explain N54.57tn Borrowing Discrepancy

The Debt Management Office is expected to explain its alleged failure to comply with borrowing estimates contained in five Appropriation Acts covering the 2020 to 2024 fiscal years.

According to the Auditor-General for the Federation’s Annual Report on Non-compliance and Internal Control Weaknesses in Ministries, Departments and Agencies for the year ended December 31, 2024, the agency allegedly exceeded approved borrowing limits by N54.57 trillion over the five-year period.

The report stated that the DMO contracted fresh domestic and foreign loans totalling N88.67 trillion, against N34.89 trillion provided for debt financing in the Federal Government’s approved budgets.

The reported difference has raised questions about compliance with legislative approvals and the procedures governing government borrowing. The committee is expected to seek explanations from the DMO on the circumstances surrounding the discrepancy and the measures taken to ensure that borrowing activities align with approved fiscal plans.

The DMO manages Nigeria’s public debt, including domestic and external borrowing, debt servicing, and the implementation of government debt-management policies.

Its activities are central to the Nigerian Government’s financing arrangements and the management of the country’s debt obligations.

TCN Faces Query Over N446.7bn Debt

The Transmission Company of Nigeria is expected to account for its alleged failure to recover N446.70 billion out of N882.75 billion reportedly owed to the Nigerian Government by various public agencies and institutions.

The committee is expected to seek details of the outstanding obligations, the recovery efforts made by TCN and the reasons the balance remains unpaid.

The hearing comes amid continuing concerns over the management of public resources, compliance with financial regulations and the recovery of government funds tied up in outstanding debts.

Reps intensify Financial Oversight

Salam, an Accord chieftain, has repeatedly warned public institutions against disregarding legislative summons, stressing that the National Assembly has constitutional powers to investigate public expenditure and the management of government funds.

Sections 88 and 89 of the 1999 Constitution, as amended, empower the National Assembly and its committees to conduct investigations within their constitutional mandate and summon individuals to provide evidence or relevant documents.

The Public Accounts Committee examines reports submitted by the Auditor-General for the Federation, scrutinising public accounts and investigating alleged financial irregularities, regulatory breaches and weaknesses in internal controls.

Its work aims to strengthen oversight of public spending, ensure government agencies account for public funds, and recommend appropriate action where breaches are established.

The committee has also recorded financial recoveries for the Nigerian government from oil companies, ministries, departments and agencies, and government-owned enterprises over the past two years.

However, its oversight activities have occasionally faced challenges when institutions fail to honour invitations.

Last week, the Nigerian National Petroleum Company Limited and the Independent National Electoral Commission reportedly failed to honour the committee’s summons, prompting speculation about possible legislative measures to compel their appearance at a later date.

The scheduled hearings involving the DMO and TCN will allow lawmakers to obtain explanations from the agencies and determine any further action required in response to the audit findings.