The House of Representatives Ad Hoc Committee, tasked with probing the non-remittance of funds to the National Housing Fund and the utilization of funds from 2011 till now, issued a stern warning on Thursday. CEOs who disregard the committee’s invitation may face the prospect of being subpoenaed.
The committee granted the non-compliant banks until the following Thursday to attend the proceedings and provide all necessary details.
In addition, the committee emphasized the imperative presence of Dr. Oluwatoyin Madein, the Accountant General of the Federation, and Mr. Folashodun Shonubi, the acting governor of the Central Bank of Nigeria. Both officials are required to personally appear before the committee on the upcoming Thursday.
Musa Bagos, Chairman of the ad hoc committee, revealed these developments during Thursday’s session. He expressed concern over the repeated excuses made by CEOs who claim to be out of the country when invited to address the parliament.
While the committee aims to ensure a fair hearing for all stakeholders, Bagos firmly stated that it will not hesitate to employ legal measures against anyone who attempts to undermine its authority or hinder the investigation.
He warned “We will not tolerate a situation whereby CEOs shy away from coming up to give evidence. Each time all the CEOs claim they have travelled abroad.
“We insist on having the Accountant General of the Federation and the acting governor of the CBN appear before this Honourable committee unfailingly next Thursday at 11 am. We are not going to entertain their representatives.”
Haruna Mustapha, the representative of the CBN governor in his capacity as the director of banking supervision, was requested to return by the committee.
Likewise, the committee declined to accept testimony from Emma Deko, the representative of the AGF, who holds the position of director of IPPIS. The committee stressed the necessity for her physical presence for giving evidence.
Bagos said, “Today, we invited all the banks but only UBA, Zenith, Heritage, and Sterling Bank came. We’ll not take it lightly with the absentee banks any longer. They must appear next Thursday”
During the Thursday session, the presence was noted of delegates exclusively from the CBN, FMBN, UBA, Sterling Bank, Heritage Bank, and Zenith Bank.
While the committee accepted UBA’s presentation, delivered by Mr. Eke Ogba, the regional head, along with Heritage Bank’s submission from the regional head in Abuja, Mr. Oniko Daniel, and Zenith Bank’s presentation by DGM Carl Akwarandu, they were directed to provide additional details regarding their NHF investments upon their CEOs’ appearance scheduled for the upcoming Thursday.
<span;>Representatives from gateway payment companies, Remita, e-Tranzact, and NIP, were also in attendance. However, they were instructed to return with their respective CEOs on the forthcoming Thursday.