The House of Representatives has questioned the Nigerian Railway Corporation (NRC) over financial discrepancies amounting to approximately ₦12.91 billion, raising fresh concerns about accountability and the management of public funds.
The investigation is being handled by the House Public Accounts Committee during its examination of issues raised in the Auditor-General’s 2023 report.
Among the issues under scrutiny are unaccounted transfers to railway stations, discrepancies in revenue generated by the corporation and questions surrounding the remittance of funds into the federal government’s Consolidated Revenue Fund.
The committee expressed dissatisfaction with some of the explanations and documents presented by the railway corporation and requested further clarification.
The Managing Director of the Nigerian Railway Corporation, Dr Kayode Opeifa, represented the organisation during the hearing.
Lawmakers have requested additional financial records to help establish the actual position of the corporation’s accounts and determine whether the outstanding amounts have been properly accounted for.
The investigation forms part of the National Assembly’s oversight responsibility to ensure that government agencies manage public resources transparently.
The development has also renewed calls for stronger financial controls across federal institutions, particularly those responsible for managing major public infrastructure.
The committee is expected to examine the additional documents before determining the next steps in the investigation.
