The House of Representatives Ad Hoc Committee warned on Thursday that chief executive officers who ignored its invitation risked being subpoenaed. The committee is looking into the non-remittance of money to the National Housing Fund and the usage of funds from 2011 to the present.
As a result, the committee gave the defaulting institutions until Thursday of next week to appear before it with all necessary documentation.
Additionally, it asked that Mr. Folashodun Shonubi, the acting governor of the Central Bank of Nigeria, and Dr. Oluwatoyin Madein, the Accountant General of the Federation, appear in person before the panel next Thursday.
Musa Bagos, the chairman of the ad hoc committee, revealed this at the committee’s meeting on Thursday. He expressed displeasure with CEOs’ constant use of the justification that they had to leave the nation whenever they were asked to address the legislature.
Bagos added that despite the committee’s desire to provide each stakeholder a fair hearing, it will not be afraid to use legal means to retaliate against anyone who tries to compromise its authority or thwart the probe.
“We won’t put up with a system where CEOs are reluctant to appear and provide testimony, he declared. Every time, every CEO says they’ve been 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.”
The CBN governor’s representative and director of banking supervision, Mr. Haruna Mustapha, was told to leave.
The committee also declined to hear any testimony from the director of IPPIS, Mr. Emma Deko, who spoke on behalf of the AGF and insisted that she appear in person.
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”
Only representatives from the CBN, FMBN, UBA, Sterling Bank, Heritage Bank, and Zenith Bank were present at the meeting on Thursday.
The committee accepted the presentations from UBA, which were made by Mr. Eke Ogba, regional head; Heritage Bank, which were made by Mr. Oniko Daniel, regional head for Abuja; and Zenith Bank, which were made by DGM Carl Akwarandu, but asked them to provide more information about their investments in the NHF when their CEOs appear on Thursday.
Remita, e-Tranzact, and NIP personnel from the payment gateway were also present. On Thursday, they were requested to go and return with their CEOs.
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