Reps Committee Questions Railway Corporation Over N12.91bn Financial Discrepancies
The House of Representatives Public Accounts Committee has questioned officials of the Nigerian Railway Corporation over unresolved financial discrepancies amounting to about 12.91 billion naira, warning that agencies found guilty of financial mismanagement would face sanctions. At an investigative hearing in Abuja, the committee examined audit queries in the 2023 report of the Auditor-General for the Federation, covering unaccounted transfers to railway outstations, revenue discrepancies and alleged under-remittance of funds to the Consolidated Revenue Fund. The NRC Managing Director, Dr Kayode Opeifa, represented the corporation, while lawmakers raised concerns over 6.62 billion naira transferred to outstations, a 2.86 billion naira revenue discrepancy and an alleged 1.71 billion naira under-remittance.
