Remittances: AGF faults Reps on CBN


… Says apex bank is highest revenue generating organ


Accountant General of the Federation (AGF), Jonah Otunla, yesterday rated the Central Bank of Nigeria (CBN) as the highest revenue generating agency for the year, saying it has posted N114,237,257,078.60 (representing about 75 per cent of total revenue realised from federal Government owned parastatals). He stated this when he appeared before the House of Representatives Committee on Finance.

The summary of the operating surplus presented to the  Committee showed that Nigerian National Petroleum Corporation (NNPC), Nigeria LNG Limited, Federal Radio Corporation of Nigeria (FRCN), National Film and Censors Board, National Examination Council (WAEC), Federal Housing Authority (FHA), NESREA and National Hospital  has a zero  remittance from 2009 to date.

He said “when we were pressed to get money in the third quarter to source money for the fourth quarter, from about N145 billion operating surplus we got, CBN paid N114 billion as operating surplus for 2011 representing about 70 percent,” adding that the apex bank and Nigerian Television Authority (NTA) have complied in the payment of operating surplus into the Consolidated account as at when due. The AGF described non-complying agencies as engaging in ‘financial rascality’ .

He gave the figure realised between 2009 and 2012 from the agencies as N26.399 billion in 2009, N39.715 billion in 2010 and N28.053 billion in 2011 totalling N208,403,133,083.75.

The documents showed that NPA paid N15 billion in 2012, NCC, N6.802 billion and N.031 billion by NDIC. He also disclosed that a total sum of N185 million was paid by NAFDAC. Summary of the spectrum fees paid by NCC for the period of January to October 2012 worth N26,852,469,732.31; BPE generated N20,110,764,577.48 from privatisation proceeds and additional sum of N21,741,500 from rent on No 15 Ijora Causeway property within the period under review.

Summary of dividend paid by Federal Government owned companies between January 2009 to October 2012 showed that Bank of Industry generated N3,978,288.78; Transcorp Hilton generated N5.5 billion while Capital Hotels generated N844,578.07.

In his presentation, Suleiman Barau, CBN Deputy Governor said  apex bank has so far paid the sum of N50 billion in the interim and projected to pay additional sum of N30 billion into the CRA for 2012 fiscal year, against the total sum of N64 billion paid in 2011.

24 yrs boy started importation with N10,450. Read his story here!

Men, forget Viagra. Use these to increase your manhood size & strength

How 2make over N500,000 in less than 12 days like I did

How watermelon made a Benin boy over N1,000,000 in 73days

Superb premature ejaculation spray. You 'll last 30minutes+

How to earn 40k-200k monthly from football matches almost on autopilot

3 Things I did to cure premature ejaculation after my wife left me

Small manhood and premature ejaculation limited my performance for 4yrs!

7 Simple yet amazing steps to earn over N200,000/monthly. Click here

How to get flat belly in just 9 days. Click here!

How to turn your Facebook to ATM machine that vomits cash

How 28yrs Lagos boy increased his manhood strength & size in 18days

Click here now if you are interested in earning at least N7,500/daily

How a young Nigerian generate over N1,000,000/month via digital marketing

Are you a real man? Click here to know if you are?

Get daily updates of jobs in Nigeria. Apply for your dream jobs

Work from home and get paid at least $1000 weekly!

Get bigger manhood and cure premature ejaculation using these solutions!

Housewife reveals How to Turn N8,500 into N100,000 monthly!

Small manhood made me lose my fiancee to a next neighbour

Shocking! See 1 crazy trick a man uses to last long on his wifey


About Author


  1. Very Clean with Full Options Blackberry 9800 Torch1 from RIM ,Canada @ a cheap price Per unit and for bulk buyer price goes down. 0-8-0-9-8-9-9-6-9-0-3

  2. Join the winning team today, and cover all ur financial problem, click here to register as a member of Netcontacts the best and most reliable money makin platform in Nigeria where by u pay just N1500 for ur membership activation & start makin money with ease and No limit 4 just inviting people to register as netcontacts member, and be paid N1500 daily from each person u invite, assumin u invite 50people atleast in a month = N75,000 direct to ur bank acct, Netcontacts is real, i advice u to acknowlege it and make tremendous benefits Goodluck

  3. Job welldone mallam sanusi Lamido sanusi. I want your critisism you should understand clearly you really means well for social and economy development of this great country, Nigeria.
    Yes, life itself is not interesting without challenges or critics, but engaging in rumour, smear compaign and foul words against respectable man like mallam sanusi is uncallful.
    Constructive critisism is best method to engage in respectable person for him to make review in sensity decision making.

Leave A Reply