The House of Representatives Public Accounts Committee has summoned Finance Minister Taiwo Oyedele and Accountant-General of the Federation Shamseldeen Ogunjimi over an outstanding ₦75 billion debt reportedly borrowed from the Universal Basic Education Commission (UBEC).
The committee directed the two officials to appear in person on Thursday, October 22, 2026, to provide a clear repayment schedule and commit to a definite date for returning the money.
The directive followed a hearing in Abuja on Friday, October 16, according to a report by The PUNCH, published the same day and written by parliamentary correspondent Dirisu Yakubu.
The committee, presided over by its Deputy Chairman, Jeremiah Umaru, questioned the use of funds belonging to one government institution to meet another’s financial obligations without clear repayment terms.
Umaru said the committee wanted the minister and accountant-general to provide a firm timeline to resolve the outstanding debt.
The lawmakers warned that diverting funds meant for basic education could affect UBEC’s programmes, which support states and federal constituencies with education infrastructure and other interventions.
They also questioned the reported practice of deducting up to 50% of some government agencies’ revenues monthly or quarterly without a clearly established regulatory framework. According to the committee, the deductions have left some agencies struggling to pay salaries and fund their operations.
Responding on behalf of the Accountant-General’s office, Deputy Director Ezeoke Christopher acknowledged the borrowings, describing them as internal arrangements to address funding shortfalls and meet government obligations.
Christopher said personnel costs, reportedly exceeding ₦1 trillion monthly, were among the pressures behind the arrangements.
He disclosed that ₦90 billion had been refunded, while more than ₦70 billion remained outstanding. The committee, however, rejected the explanations and insisted that the two principal officials must personally account for the outstanding funds.
The latest investigation follows earlier concerns raised by lawmakers over withdrawals from agency accounts.
In a report published on July 14, 2026, Premium Times reported that the committee had questioned alleged withdrawals from UBEC and other agencies, including the National Agency for Science and Engineering Infrastructure. The Accountant-General had defended the transactions as temporary borrowing to meet urgent government obligations.
In a related development, UBEC Executive Secretary Olajumon Akinyemi told the committee that more than 20 states accessed their matching grants in 2025, while over 13 states had accessed theirs in 2026.
He identified Imo, Ogun, Anambra, Lagos, Kwara and Katsina as states with outstanding issues relating to counterpart funding.
Akinyemi also disclosed that a proposed amendment to the Universal Basic Education Act was before the National Assembly. The amendment would empower the commission to redeploy funds left unaccessed by states after two years.
The October 22 appearance is expected to give lawmakers a clearer repayment timetable and further explanations on the management of funds belonging to government agencies.
