Nigeria: CBN, PPPRA, Other Nigerian Agencies Fail to Remit N10 Trillion Surplus - Official

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• Nigeria
• West Africa

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By Olufemi Aduwo

The federal government said on Tuesday, its own enterprises, including the Central Bank of Nigeria (CBN), owe about N10 trillion in unremitted operating surplus as at the end of August 2018.

The Director-General, Budget Office of the Federation, Ben Akabueze, disclosed this during his town hall meeting with Chief Executive Officers (CEOs) of government-owned enterprises (GOEs) in Abuja.

Lamenting the poor returns on investment by the GOEs, records from the Office of the Accountant General of the Federation showed the Petroleum Products Pricing Regulatory Agency (PPPRA) as the worst culprit, with unremitted operating surplus of over N1.3 trillion, followed by the CBN with about N801.2 billion and Nigeria Ports Authority (NPA) with N192.1 billion.

Others include the Nigerian Maritime Administration and Safety Agency (NIMASA) - N66.1 billion; Federal Airport Authority of Nigeria (N51.99 billion); Nigeria Postal Service (N37.7 billion); Nigeria Communications Commission (N30.9 billion); National Inland Waterways Authority (N30.8 billion); National Information Technology & Development Agency (N30.7 billion); Nigeria Airspace Management Agency (N22.8 billion) and National Examination Council (N16.3 billion).

Also owing are the Nigeria Television Authority (N15.6 billion); National Agency for Food, Drugs Administration & Control (N12.3 billion); Nigerian Shippers Council (N12 billion); National Health Insurance Scheme (N8.8 billion); National Pension Commission (N8.7 billion); Corporate Affairs Commission (N7.7 billion); Tertiary Education Trust Fund (N6.1 billion) and Nigerian Civil Aviation Authority (N6.1 billion.