The House of Representatives has demanded a firm repayment plan for ₦75 billion reportedly borrowed from the Universal Basic Education Commission, warning that public funds must not be withheld without clear terms.
The House of Representatives 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 the Universal Basic Education Commission (UBEC).
The House Public Accounts Committee directed the two officials to appear before it on Thursday, October 22, to explain the financial arrangements and commit to a definite repayment date.
The decision followed a hearing in Abuja on Friday, October 16, during which lawmakers questioned the withdrawal of funds belonging to government agencies to meet other financial obligations without clearly established repayment terms.
The committee, presided over by its Deputy Chairman, Jeremiah Umaru, insisted that funds belonging to one government institution should not be used to finance another without transparent arrangements and an agreed repayment schedule.
Umaru said the lawmakers wanted the minister and the Accountant-General to appear personally, stressing that general assurances would not be sufficient to resolve the matter.
He maintained that even when financial transactions occur between government institutions, clear conditions must be established to ensure accountability and prevent prolonged delays in repayment.
The committee expressed concern that the outstanding funds could affect UBEC’s ability to carry out its statutory responsibilities, particularly its interventions aimed at improving access to basic education across Nigeria.
Lawmakers question government deductions
Beyond the ₦75 billion debt, lawmakers also raised concerns over reported deductions of up to 50 per cent of some government agencies’ revenues on a monthly or quarterly basis.
Members questioned whether such deductions were being made under a clearly defined regulatory framework and with adequate notification to the affected institutions.
They warned that the practice could weaken agencies’ ability to pay salaries, meet operational costs and deliver essential public services.
Responding on behalf of the Accountant-General, a deputy director in his office, Ezeoke Christopher, acknowledged the borrowing arrangements, describing them as internal financial measures intended to address funding shortfalls and meet statutory obligations.
He explained that the arrangements were partly driven by the pressure to meet personnel costs, reportedly exceeding ₦1 trillion monthly.
The Accountant-General’s office also told the committee that efforts had been made to refund as much as ₦90 billion, although more than ₦70 billion remained outstanding.
However, the explanations provided by the officials representing the finance ministry and the Accountant-General’s office failed to satisfy the committee, which insisted that the principal officials must personally account for the outstanding funds.
UBEC matching grants under scrutiny
The committee also examined challenges surrounding UBEC’s matching grant programme, through which states access federal intervention funds for basic education after meeting the required counterpart-funding conditions.
UBEC Executive Secretary, Olajumoke Akinyemi, told the lawmakers 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 among the states with outstanding issues relating to counterpart funding, although he noted that several states were taking steps to meet the requirements.
Akinyemi further disclosed that proposed amendments to the Universal Basic Education Act were before the National Assembly to empower the commission to redeploy funds that states fail to access after two years.
The proposed changes are intended to prevent education funds from remaining unused indefinitely when eligible states fail to meet the conditions for accessing them.
The committee subsequently resolved that Oyedele, Ogunjimi and the UBEC leadership should appear in person on October 22 to address the outstanding repayment and related funding concerns.
The lawmakers are expected to seek clear answers on the financial arrangements, a definite repayment timetable and measures to protect public funds allocated to statutory agencies.
The investigation underscores growing legislative scrutiny of public financial management and the need to ensure that money earmarked for essential services, including basic education, is properly accounted for and available for its intended purpose.
