The ad hoc committee of the House of Representatives, responsible for investigating non-remittances to the National Housing Fund and the utilization of funds from 2011 onwards, has issued a stern warning to chief executive officers who have failed to attend their invitations. The committee has signaled its readiness to issue subpoenas against those who did not respond.
The committee has granted the defaulting banks until next Thursday to appear before it with all the necessary information. Furthermore, it has emphasized that Dr. Oluwatoyin Madein, the Accountant-General of the Federation, and Folashidun Shonubi, the acting governor of the Central Bank of Nigeria, must personally appear before the committee on the same day.
Chairman of the ad hoc committee, Musa Bagos, expressed dissatisfaction with the recurring excuses given by CEOs who claim to be abroad when invited to testify before the parliament. He emphasized the committee’s commitment to ensuring fairness and transparency, while also warning of potential legal action against anyone who obstructs its authority or undermines the ongoing investigation.
Bagos stated, “We will not tolerate a situation whereby CEOs shy away from coming up to give evidence… We insist on having the Accountant General of the Federation and the acting governor of the CBN appear before this committee unfailingly next Thursday at 11 am. We are not going to entertain their representatives.”
During the session, the committee rejected taking evidence from Mr. Emma Deko, who represented the AGF, insisting that she must be present in person. Additionally, the committee urged UBA, Sterling Bank, Heritage Bank, and Zenith Bank, among others, to submit further details of their investments in the National Housing Fund when their CEOs appear before the committee next Thursday.
The committee’s resolve reflects its determination to ensure accountability and transparency, compelling the presence and cooperation of the relevant authorities.
