The House Public Accounts Committee will question the agencies over findings in the 2024 Auditor-General’s report, including alleged excess borrowing and billions of naira in outstanding government debts.

The House of Representatives Public Accounts Committee has summoned senior officials of the Debt Management Office (DMO) and the Transmission Company of Nigeria (TCN) to explain alleged financial irregularities identified in the 2024 Auditor-General for the Federation’s report.

 The hearings, scheduled for Monday and Tuesday, form part of the National Assembly’s efforts to strengthen financial accountability and ensure government agencies comply with approved spending and borrowing regulations.

The DMO is expected to explain why its reported borrowing exceeded approved budget estimates between 2020 and 2024.

 According to the Auditor-General’s report on non-compliance and internal control weaknesses in federal ministries, departments and agencies, the office contracted fresh domestic and foreign loans totalling N88.67tn, against N34.89tn approved for debt financing over the five-year period. 

The report put the alleged excess at N54.57tn, raising questions about compliance with legislative approvals and the government’s borrowing plans.

The committee will also question TCN over its reported failure to recover N446.70bn from a total N882.75bn owed to the Federal Government by various public agencies and institutions.

 Lawmakers are expected to seek details of the outstanding debts, the steps taken to recover the funds and the reasons a substantial portion remains unpaid. The hearing could help establish the circumstances behind the unrecovered amount and whether further action is required.

In an invitation notice dated September 29, 2026, the committee directed both agencies to submit all requested documents to its secretariat in Hearing Room 4, White House, at least 72 hours before their appearances.

 Their accounting officers and relevant subject-matter experts were also instructed to attend the hearings at 1pm in Hearing Room 446. The committee is chaired by Bamidele Salam, who represents Ede North, Ede South, Ejigbo and Egbedore Federal Constituency of Osun State.

Salam has repeatedly warned public institutions against ignoring legislative summons, citing the National Assembly’s constitutional oversight powers.

 Sections 88 and 89 of the 1999 Constitution, as amended, empower the legislature to investigate matters within its mandate and summon individuals to provide evidence or relevant documents. 

The committee examines Auditor-General reports, investigates alleged financial breaches and scrutinises the management of public funds.

The planned hearings come amid concerns over government borrowing, weak financial controls and the recovery of public money. 

The committee has recorded recoveries from oil companies, ministries, departments, agencies and government-owned enterprises in recent years, although some investigations have been hindered by institutions failing to honour invitations. 

The DMO and TCN hearings are expected to give lawmakers an opportunity to obtain explanations and determine what further action, if any, is warranted by the audit findings.