House Committee clears CBN over N2.8 bn office complex

The House of Representatives Committee on Public Accounts on Monday in Abuja, cleared the Central Bank of Nigeria (CBN) over its N2.8 billion office complex built in Port Harcourt.

Rep. Solomon Adeola (ACN-Lagos), the Chairman of the Committee said this at a meeting with the bank officials based on a query from the Office of the Auditor-General (AGF).

Adeola, however, advised the apex bank to always make available its accounts books to the AGF for auditing in order to forestall future queries.

He said that the CBN should always spell out in specific terms the kind of contract being carried out to avoid controversy.

Adeola said that the committee would embark on a physical inspection of the office complex to confirm the claim.

In his response, Suleiman Barau, Deputy Governor in charge of Corporate Services, explained that the office complex was not refurbished but re-obstructed.

He promised that the bank would make its books available for scrutiny any time it was requested for auditing by the AGF.

The AGF in its 2010 audit report queried the CBN over the office complex in Port Harcourt.
Meanwhile, the House Committee on Finance has urged the Federal Inland Revenue Services (FIRS) to continue to generate more money for the country.

Rep. Abdulmumin Jibrin (PDP-Kano) said this at meeting with officials of the service on the level of tax complaint by the 24 commercials banks appointed to collect and remit tax to the CBN.

Jibrin said that the essence of the meeting was to ensure that the FIRS was monitoring the banks on tax payments.

"The essence of this meeting is to ensure that the banks are paying what is expected to be paid," he said.

He said that the committee had received several complaints from Nigerians on the issue of noncompliance by commercials banks on tax payment.

The legislator said that the documents submitted to the committee on banks compliance on tax payment could not serve the purpose for the meeting.

Earlier, Alhaji Kabir Mashi, acting Chairman of FIRS, said that a bank had been de-listed for delaying tax remittance to the CBN.

Mashi, however, promised to make available more elaborate documents on the subject matter as requested by the committee at the next meeting.

Source: Daily Times NG