The House of Representatives Public Accounts Committee has summoned officials of the Debt Management Office (DMO) and the Transmission Company of Nigeria (TCN) over queries raised in the 2024 Auditor-General for the Federation’s report.
The committee, chaired by Bamidele Salam, is seeking explanations on alleged financial irregularities, including the DMO’s reported excess borrowing of N54.57 trillion between 2020 and 2024.
According to the Auditor-General’s report, the DMO contracted domestic and foreign loans totalling N88.67 trillion during the five-year period, against N34.89 trillion approved for debt financing in the Federal Government’s budgets.
The committee is expected to examine the circumstances surrounding the reported discrepancy and determine whether the agency complied with approved borrowing limits.
In a notice dated September 29, 2026, the committee directed both agencies to submit relevant documents at least 72 hours before their scheduled appearances and ensure that their accounting officers and relevant experts attend the hearings.
The summons forms part of the committee’s efforts to enforce financial accountability and ensure compliance with public financial regulations.
