The House of Representatives Committee on Finance has asked the Centre for Management Development (CMD) to remit N542 million to federal government within 21 days .

The House of Representatives Committee on Finance has asked the Centre for Management Development (CMD) to remit N542 million to federal government within 21 days .

The committee chairman, James Abiodun Faleke (APC, Lagos) said the amount is what the Centre failed to remit to Consolidated Revenue Fund between 2012 and 2018.

Faleke who gave the order at an investigative hearing on Wednesday, said the centre failed to remit N378.4 million, N86 million and N78 million in in 2012, 2016 and 2017 respectively.

He complained that the country is in dire need of money and the amount being generated by agencies of government is more than what the country borrow to fund its budget.


”We give you three week to pay all outstanding and appear here with treasury receipts,” he said.

He said, failure by the agency to meet the ultimatum, the panel would either recommend the agency to be scrapped or the debt deducted from its monthly allocation.

The committee also frowned that the agency is spending all the revenue it has generated without the required 25 per cent remittance as stipulated by law.

In his response, the Managing Director of the CMD, Mr Bitrus Chinoko, said he was new in the office but had audited the agency’s account and remitted the revenue of 2019.


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