AGF, CBN governor, others face arrest for ignoring Reps invitation

The House of Representatives’ ad hoc committee assigned to investigate the non-remittance to the National Housing Fund and the utilization of funds from 2011 to the present, issued a stern warning on Thursday. The committee cautioned that chief executive officers who neglected to respond to its summons risked facing subpoenas.

Subsequently, the committee granted the delinquent banks until next Thursday to appear with all requisite information. Moreover, the committee emphasized that the Accountant-General of the Federation, Dr. Oluwatoyin Madein, and the acting governor of the Central Bank of Nigeria, Folashidun Shonubi, must personally attend the panel’s session next Thursday.

Musa Bagos, the chairman of the ad hoc committee, conveyed this during Thursday’s session. Bagos expressed dissatisfaction with the CEOs’ tendency to offer excuses of being abroad whenever they were called to testify before the parliament.

Bagos underscored the committee’s intention to ensure a fair hearing for all stakeholders. However, he warned that the committee would not hesitate to utilize legal provisions against anyone attempting to undermine its authority or obstruct the investigation.

He stated, “We will not tolerate a scenario in which CEOs evade giving evidence by claiming they are abroad. We insist that the Accountant General of the Federation and the acting governor of the CBN must appear before this committee without fail next Thursday at 11 am. We will not entertain their representatives.”

When the director of banking supervision, Mr. Haruna Mustapha, representing the CBN governor, attended, he was requested to return. The committee also declined to accept evidence from Mr. Emma Deko, the director of IPPIS, representing the AGF, demanding her personal appearance.

Bagos emphasized, “Today, we invited all the banks, but only UBA, Zenith, Heritage, and Sterling Bank attended. We will no longer take the absence of banks lightly. They must appear next Thursday.”

Present during the Thursday session were representatives from the CBN, FMBN, UBA, Sterling Bank, Heritage Bank, and Zenith Bank. While the committee accepted presentations from UBA, Heritage Bank, and Zenith Bank, they were instructed to provide additional information about their NHF investments when their CEOs appeared the following Thursday.

Representatives from gateway payment companies Remita, e-Tranzact, and NIP were also present. However, they were directed to return with their CEOs on Thursday.