The House of Representatives Public Accounts Committee has summoned the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Accountant-General of the Federation, Shamseldeen Ogunjimi, over an outstanding ₦75 billion reportedly borrowed from funds belonging to the Universal Basic Education Commission (UBEC), raising concerns about the management of public funds earmarked for the education of Nigerian children.
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The committee directed both officials to appear personally before it on Thursday, October 22, 2026, to explain the circumstances surrounding the borrowing and provide a definite timetable for repayment.
The summons followed a public hearing held in Abuja on Friday, October 16, during which lawmakers expressed dissatisfaction with explanations offered by representatives of the Federal Ministry of Finance and the Office of the Accountant-General concerning withdrawals from the accounts of government agencies.
Presiding over the proceedings, the Deputy Chairman of the committee, Jeremiah Umaru, maintained that public funds belonging to one government institution should not be borrowed to meet the financial obligations of another without clearly established terms, prior notification and a definite repayment arrangement.
The committee expressed particular concern that funds intended to support basic education programmes across Nigeria had remained outstanding despite the statutory responsibilities of UBEC and the dependence of state governments on its interventions.
Lawmakers insisted that even where financial transactions occurred between government institutions, there must be transparency, accountability and an agreed repayment period.
“For each borrowing, there should be terms and conditions attached. We want to know what your plan is. You borrowed money for certain reasons, but you should be willing to return it within a specific period, even without interest, since it is government-to-government,” the committee stated.
Umaru said the lawmakers were no longer prepared to accept general assurances about repayment, stressing that the principal officials responsible for the financial arrangements must personally appear before the committee and make binding commitments on when the outstanding funds would be returned.
“The main issue we are looking at is N75bn. We need the Accountant-General to appear in person, and we want the Honourable Minister to appear in person too so that we can get a timeline.
“We want to agree on when this money will be paid so that we can close this matter once and for all,” he said.
The committee’s position followed concerns that the practice of withdrawing or borrowing funds from statutory agencies without clearly defined repayment arrangements could undermine their ability to carry out their mandates.
In the case of UBEC, lawmakers warned that the continued withholding of funds could affect federal interventions in basic education, including programmes implemented in collaboration with state governments.
The commission is responsible for coordinating the implementation of the Universal Basic Education programme, which is intended to improve access to quality basic education throughout Nigeria.
Its interventions include support for school infrastructure, instructional materials, teacher development and other programmes designed to strengthen the delivery of basic education.
The committee expressed concern that uncertainty surrounding the availability of funds could disrupt planning and implementation, particularly in states and federal constituencies that depend on UBEC-supported projects.
Beyond the outstanding ₦75 billion, lawmakers also questioned the reported practice of deducting substantial portions of the revenues of certain government agencies to meet obligations elsewhere in the federal financial system.
According to members of the committee, some agencies had reportedly experienced deductions of up to 50 per cent of their revenues on a monthly or quarterly basis without a clearly established regulatory framework or adequate prior notification.
They argued that the practice had created financial difficulties for affected institutions, leaving some struggling to meet salary obligations and finance their day-to-day operations.
“The agencies cannot do anything now because of those deductions. They use these monies to pay staff and fund their operations, but they can no longer do so because the funds have been taken without prior notification,” the lawmakers said.
The committee maintained that government agencies should not be deprived of the resources required to discharge their statutory responsibilities merely because the Federal Government needed funds to meet other expenditure commitments.
Responding to the concerns on behalf of the Accountant-General of the Federation, a Deputy Director in the office, Ezeoke Christopher, acknowledged the borrowing arrangements.
Christopher explained that the transactions were internal government financial arrangements undertaken to address funding shortfalls and enable the government to meet pressing statutory obligations.
He disclosed that the arrangements were partly necessitated by the need to finance personnel costs reportedly exceeding ₦1 trillion every month.
The explanation suggested that the Federal Government had resorted to temporary funding arrangements involving resources held by certain government agencies to meet immediate financial commitments.
The representative further informed the committee that efforts had been made to refund approximately ₦90 billion, although more than ₦70 billion remained outstanding.
The figures raised further questions about the total amount originally borrowed, the agencies affected, the sums already repaid and the precise balances still owed.
However, the explanations offered by Christopher and the Permanent Secretary in the Federal Ministry of Finance, Muhammed Danjuma, failed to satisfy the lawmakers.
The committee insisted that the appearance of representatives could not substitute for direct commitments from the Minister of Finance and the Accountant-General, particularly where substantial public funds remained unpaid.
Umaru maintained that the purpose of the summons was to establish a clear and enforceable understanding regarding repayment rather than continue receiving explanations without a definite timeline.
The lawmakers also sought greater clarity on the authority under which funds were withdrawn from the accounts of government agencies and the procedures governing such transactions.
The investigation raises broader questions about public financial management, particularly the treatment of funds allocated to institutions established by law to perform specific public functions.
Although the Federal Government may face competing expenditure demands, the committee maintained that financial arrangements between public institutions must be conducted transparently and must not undermine the operations of agencies responsible for delivering essential services.
The controversy also revives concerns previously raised by the House Public Accounts Committee about withdrawals from the accounts of ministries, departments and agencies.
In July 2026, the committee directed the Office of the Accountant-General to provide comprehensive information about outstanding revenues allegedly owed to the Federal Government by the Central Bank of Nigeria, the Nigerian National Petroleum Company Limited and other revenue-generating institutions.
During those proceedings, lawmakers also demanded explanations concerning funds reportedly withdrawn from the accounts of several government agencies, including UBEC, without prompt repayment.
The latest summons therefore represents a continuation of legislative scrutiny of financial transfers, internal borrowing arrangements and the management of resources belonging to government institutions.
In a related development during Friday’s hearing, the committee examined the implementation of UBEC’s matching grant programme and the challenges preventing some states from accessing funds allocated for basic education.
According to information presented at the hearing, more than 20 states accessed their matching grants in 2025, while over 13 states had accessed theirs in 2026.
The committee was informed that Imo, Ogun, Anambra, Lagos, Kwara and Katsina were among the states with outstanding issues concerning the provision of counterpart funding required to access their allocations.
However, lawmakers were told that several states were taking steps to satisfy the conditions necessary for accessing the grants.
Under the matching grant arrangement, participating state governments are generally required to provide counterpart contributions before accessing designated federal intervention funds.
Failure to meet these requirements can delay the release and utilisation of funds intended for school development and other basic education interventions.
The hearing also addressed proposals to amend the Universal Basic Education Act to improve the management and utilisation of funds that remain unaccessed by states.
The proposed amendment, according to the account presented to the committee, would empower UBEC to redeploy funds that remain unaccessed after two years.
The objective is to prevent resources allocated for basic education from remaining unused indefinitely when eligible states fail to satisfy the conditions for accessing them.
Such a provision, if enacted, could affect the management of intervention funds and the relationship between the Federal Government and states under the Universal Basic Education programme.
However, the proposed amendment remains subject to the legislative process and cannot be treated as an existing legal power until the relevant changes are enacted.
The committee subsequently resolved that the Minister of Finance, the Accountant-General of the Federation and the leadership of UBEC should appear before it on October 22 to provide further explanations and facilitate the resolution of the outstanding issues.
The lawmakers emphasised that the investigation was intended to promote accountability in public financial management, ensure the timely repayment of borrowed funds and protect resources allocated to statutory institutions.
The summons also places renewed attention on the Federal Government’s responsibility to reconcile competing fiscal obligations with the need to preserve funds dedicated to critical public services.
For UBEC, the outcome of the investigation could have implications for the financing of education interventions across the country, particularly in communities where public schools depend on federal and state collaboration for infrastructure and learning resources.
The committee is expected to seek a definite repayment timetable when the invited officials appear, alongside explanations concerning the legal and administrative framework governing the borrowing arrangements.
As of Friday, October 16, the committee had not announced any final finding of financial misconduct against the summoned officials.
The central issue before the lawmakers remains the recovery of the outstanding funds, clarification of the financial transactions and the establishment of safeguards to prevent government agencies from being deprived of resources required to fulfil their statutory mandates.
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