Treasury Single Account: Reps Raise Alarm Over Trillions Unaccounted For

The funds are unaccounted for, due to the proliferation of sub-accounts by the CBN, the House argued.

FILE PHOTO of the House of Representatives. Credit: Sodiq Adelakun/Channels TV)


The House of Representatives on Wednesday raised the alarm over the Remita platform through which the Treasury Single Account of the Federal Government is operated.

Through a motion by Jeremiah Umaru (APC; Akwanga/Nasarawa Egon/Wamba), the lower chamber said trillions of naira had been passed through the Remita platform and that the funds were unaccounted for due to the proliferation of sub-accounts by the Central Bank of Nigeria (CBN).

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The house is worried that if this is not addressed, the country will continue to lose revenue.


DStv, GOtv Subscription Fees

In a related development, the Green Chamber urged the Federal Ministry of Communication and Digital Economy to intervene in, halt and reverse the increase in the DStv/GOtv tariffs by the MultiChoice Group.

The House, through a motion by Umar Ajilo, noted the prevailing economic hardship resulting from factors, political to economic, that have made life unbearable for the common man, with far-reaching effects that have yet to be addressed.

Lawmakers are worried that the exorbitant increase would further exacerbate the sufferings of Nigerians, given the increasing pressure on household budgets, the rising cost of basic living essentials, income stagnation, and other factors.