Reps Grill NRC Over ₦12.91bn Audit Queries, Threaten Sanctions

The House of Representatives Public Accounts Committee has questioned officials of the Nigerian Railway Corporation (NRC) over unresolved financial discrepancies involving approximately ₦12.91 billion, warning that appropriate sanctions would be imposed on agencies found culpable of financial misconduct.

The committee raised the concerns on Monday, November 9, 2026, during an investigative hearing in Abuja examining audit queries contained in the 2023 report of the Auditor-General for the Federation.

The hearing was chaired by the committee’s Deputy Chairman, Jeremiah Umaru, while the NRC Managing Director, Dr Kayode Opeifa, represented the corporation.

Lawmakers scrutinised three major financial issues involving transfers to railway outstations, discrepancies in internally generated revenue and alleged under-remittance of funds to the Consolidated Revenue Fund (CRF).

One of the major issues involved ₦6.62 billion reportedly transferred to the corporation’s outstations. The committee examined the NRC’s explanation concerning the utilisation of ₦5.16 billion transferred to various districts.

Although the corporation presented documents indicating that some of the money was used to purchase diesel, lawmakers demanded further clarification and supporting records to establish how the funds were spent.

The committee consequently constituted a reconciliation team to examine the transactions and determine the actual financial position.

Another issue involved an alleged ₦2.86 billion discrepancy between revenue recorded in treasury receipt booklets and the amount reflected in the corporation’s audited accounts. The lawmakers expressed dissatisfaction with the explanation provided and directed further reconciliation.

The committee also examined an audit query concerning the alleged under-remittance of ₦1.71 billion in internally generated revenue. It requested additional documents to establish the amount actually remitted and whether any outstanding liability remained.

Other audit concerns included 26 contracts worth ₦858.6 million allegedly awarded without appropriate authorisation, ₦410 million in investment income reportedly not remitted to the CRF, and ₦19.6 million spent on a chartered flight without sufficient supporting evidence.

Additional flagged transactions included ₦221.8 million spent on store items without ledger charges, ₦136.3 million spent on residential buildings without corresponding rental income, and ₦39.45 million in unretired cash advances.

The committee also questioned ₦28.13 million spent on foreign trips without required approvals and ₦4.64 million in training fees allegedly paid in violation of the Federal Government’s e-payment policy.

The lawmakers warned that government agencies must account for public resources, stressing that failure to provide satisfactory explanations could attract sanctions.

The reconciliation committees are expected to examine the outstanding records and establish the actual figures before the committee takes further decisions.

The NRC is expected to provide the requested documents and explanations as the legislative investigation continues.