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The house public accounts committee will question TCN over its unpaid balance and recovery efforts.
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The DMO will face questions over alleged N54.57tn in excess borrowing between 2020 and 2024.
The Transmission Company of Nigeria (TCN) must explain this week why N446.70bn remains unrecovered out of N882.75bn in debts tied to public agencies. The House of Representatives Public Accounts Committee has summoned the grid operator over queries in the Auditor-General for the Federation’s 2024 report, according to The PUNCH.
Members will press TCN on its recovery efforts. They also want to know why the balance remains unpaid.
Why the TCN hearing matters
The shortfall is large for a company that runs the national grid. TCN needs strong finances to maintain and expand the transmission network.
The hearing also puts the power sector under legislative scrutiny. Concern is growing over how public funds are managed and recovered.
DMO also faces questions on borrowing
TCN is one of two agencies invited. The Debt Management Office (DMO) will also appear before the committee.
The Auditor-General says the DMO exceeded approved borrowing limits by N54.57tn between 2020 and 2024. The office contracted N88.67tn in new domestic and foreign loans against N34.89tn provided for debt financing in five Appropriation Acts covering the period.
A notice of invitation dated 29 September 2026 sets out both terms. Both agencies must submit all requested documents to the committee secretariat at least 72 hours before their appearances. Their accounting officers and relevant experts must attend the hearings at 1pm.
Salam warns agencies against ignoring summons
The committee is chaired by Bamidele Salam. He represents Ede North/Ede South/Ejigbo/Egbedore Federal Constituency of Osun State.
Salam has repeatedly warned public institutions not to treat legislative summons lightly. He cites Sections 88 and 89 of the 1999 Constitution (as amended). These give the National Assembly and its committees power to investigate and to compel witnesses and documents.
His warning carries weight after last week. The Nigerian National Petroleum Company Limited and the Independent National Electoral Commission reportedly failed to honour the committee’s summons. That prompted talk of measures to compel their appearance later.
What the committee does
The committee examines the Auditor-General’s reports and scrutinises public accounts. It also investigates alleged financial irregularities and weak internal controls.
It says it has recorded financial recoveries for the Federal Government from oil companies, MDAs and government-owned enterprises over the past two years. The TCN hearing will show whether that pressure extends to the power sector.