Housing Fund Probe: House Threatens to Subpoena Banks’ CEOs

Juliet Akoje in Abuja

The House of Representatives ad hoc committee investigating the non-remittance to the National Housing Fund (NHF) and utilisation of funds from 2011 to date, yesterday, warned that banks’ chief executive officers who failed to honour its invitation risked being subpoenaed.
Consequently, the Committee gave the defaulting banks Thursday next week, to appear with all the required information.
The Committee further insisted that the Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, and the acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashidun Shonubi must appear in person same Thursday.

Hon. Dachung Musa Bagos, who is the Chairman of the Ad-hoc Committee frowned at the attitude of CEOs who always pretend to travel out of the country whenever they were invited to give evidence to the parliament.
According to him, in as much as the committee would want to give fair hearing to every stakeholder, it would not hesitate to invoke provisions of the law against anyone that attempts to undermine its authority or sabotage the investigation.

“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 11am. We are not going to entertain their representatives.”
The Director, Banking Supervision, CBN, Mr. Haruna Mustapha, who represented the CBN governor was turned back.
The lawmakers further rejected taking any evidence from the Director of IPPIS, Mr. Emma Deko, who represented the AGF, insisting that she must appear in person.

Bagos noted that, “Today, we invited all the banks, but only CBN, UBA, Zenith, FMBN, Heritage and Sterling Bank appeared. We’ll not take it lightly with the absentee banks any longer. They must appear next Thursday.”
However, the committee accepted the presentation from UBA, which was presented by Mr. Eke Ogba, regional head; that of Heritage Bank, presented by regional head, Abuja, Mr. Oniko Daniel; and that of Zenith Bank presented by DGM Carl Akwarandu. They were asked to further submit details of their investments in the NHF when their CEOs appeared Yesterday.
Also present were representatives of the gateway payment: Remita, e-Tranzact and NIP. However, they were asked to go and come with their CEOs on Thursday.