The House of Representatives has ordered the Centre for Management Development to remit a total sum of N542.4m to the Consolidated Revenue Fund of the Federal Government within three weeks.
The House Committee on Finance said this is the total amount of revenue the CMD failed to remit between 2012 and 2018.
The committee criticised the centre for spending all the revenue it generated within the period instead of remitting 25 per cent as required by the law.The Managing Director of the CMD, Mr Bitrus Chinoko, told the committee that the centre was ready to make amends. He said though he just assumed office, he ensured that the accounts were audited and the due revenue for 2019 was remitted.
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