Nigerian House Committee Recovers ₦521 Million in Unremitted VAT from Central Bank

Nigeria's House of Representatives Public Accounts Committee has successfully recovered ₦521,765,134.17 in unremitted Value Added Tax (VAT) from the Central Bank of Nigeria (CBN). This significant recovery stems from an ongoing investigation into alleged revenue leakages and outstanding liabilities owed to the Federal Government.

The committee's inquiry is actively probing financial irregularities within government revenue collection. The recovery of the substantial VAT sum highlights a critical step in addressing potential financial mismanagement and ensuring that government funds are properly accounted for and remitted.

This development underscores the committee's commitment to fiscal accountability. The ongoing investigation seeks to plug revenue leakages and recover all outstanding debts owed to the Federal Government, reinforcing transparency and financial integrity within the nation's economic system.