Reps Threaten To Subpoena Banks CEOs Over Absence From Housing Fund Probe

House of Representatives has threatened to subpoena executive officers of banks who fail to turn up for its ongoing investigation into the non-remittance of the National Housing Fund (NHF).

The House ad-hoc committee investigating non-remittance to the housing fund and utilisation of the funds from 2011, issued the threat at its resumed hearing on Thursday.

The committee gave the defaulting banks chiefs up to next week Thursday to appear before it with all the required information.

The lawmakers also insisted that the accountant-general of the federation, Oluwatoyin Madein and the acting Governor of Central Bank of Nigeria (CBN), Mr. Folashidun Shonubi must appear in person on Thursday.

The committee’s chairman, Dachung Musa Bagos frowned at the attitude of the CEOs who always pretend to travel out of the country whenever they are invited to give evidence to the parliament.

Bagos warned that though the committee would want to give fair hearing to every stakeholder, it will  not hesitate to invoke the provisions of the law against anyone that attempts to undermine its authority or sabotage the probe.

“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,” he said.