The House of Representatives Public Accounts Committee (PAC) says it has recovered ₦521.77m (reported as about ₦521.8m) in unremitted Value Added Tax (VAT) from the Central Bank of Nigeria (CBN). The recovery follows an ongoing PAC investigation into alleged revenue leakages and related liabilities owed to the Federal Government.
According to the reports, the committee’s probe is linked to concerns about non-compliance with standard operating procedures and breaches of service-level agreements connected to the Remita payment platform. The outlets describe the recovery as part of the committee’s efforts to address outstanding amounts identified during its examination of the affected processes and parties.
In addition to the VAT recovery, Premium Times reports that the committee is pursuing further claims totalling about ₦33bn, indicating the investigation is continuing beyond the initial recovery. Overall, the sources describe the event as a development within the PAC’s wider review of revenue handling and remittance practices involving the CBN and associated payment arrangements.
