The House of Representatives yesterday, queried the Nigeria Customs Service (NCS)and the Central Bank of Nigeria (CBN) over undeclared N200 billion revenue.

The revenue, which accumulated from the 0.5per cent of the total revenue/tariff collected by the Nigerian customs Service (NCS) and which ought to have been paid into the Federation Account is being paid into an account known as Economic Community of West African States(ECOWAS) Account domiciled in the CBN.

But Abubakar Momoh (ACN Edo)the lawmaker who brought the motion before the House, revealed that "the total amount paid into the account is never remitted to the ECOWAS Commission and the balance standing in the account is never declared as fund for appropriation by the Parliament."

Momoh, who is the Chairman of the House Committee on Co-operation and Integration in Africa, said the non-remittance of the funds runs contrary to the purpose for which the scheme was introduced.

The lawmaker said the money lying idle in the bank is sufficient to fund fuel subsidy, which has stirred a lot of heated debates in the country.

The committee chair wondered that in the midst of regional problems confronting Nigeria today, such as Boko Haram insurgence, a huge sum of money is being held back in the said account with no defined accountability.

Members overwhelmingly supported the motion and the committees on Co-operation and Integration in Africa, and Finance have been mandated to conduct an investigative hearing into the said account with a view to determining how much has gone into the account since inception.