The House of Representatives Ad-Hoc Committee on the recovery of N1.2 trillion unclaimed funds in commercial banks; Ministries, Departments and Agencies (MDAs) of government; and the Central Bank of Nigeria (CBN) said it had discovered over N300 billion since the beginning of its investigation.
Chairman of the committee, Unyime Idem (PDP, Akwa Ibom) disclosed this yesterday after a session with Citibank.
In a related development, the House Committee on Public Accounts on Tuesday demanded documentary evidence of assets imported by MTN, which amounted to the total sum of N2.6 trillion capital allowances collected by the telco from the Federal Inland Revenue Service (FIRS).
Chairman of the committee, Hon. Wole Oke, made the demand during an investigative hearing on the audit queries issued by the office of Auditor General of the Federation (oAuGF) following allegations of tax evasion.
Idem stressed that the committee was mandated, after a resolution of the House on January 26, to investigate and recover the N1.2 trillion due to the federal government that was trapped in commercial banks, MDAs, and other places.
He said the trapped funds were in dormant bank accounts in domestic and foreign currencies, accounts without Bank Verification Number (BVN), failed contracts, and excess unremitted funds.
