The House of Representatives Ad-hoc committee investigating non-remittance to the National Housing Fund (NHF) and utilization of the funds from 2011 has summoned the Chief Executive Officers (CEOs) of the affected 54 insurance companies to make clarification over the alleged non-remittance of N267 billion into the funds, particularly for fiscal 2019 year,
The Chairman of the committee, Hon. Dachung Bagos, issued the summon following the alleged failure to appear before the committee in Abuja on Tuesday to explain the unremitted fund.
According to him, the insurance companies’ CEOs should come and explain why they are still owing over N267 billion of workers’ investment to NHF in 2019.
The lawmaker also maintained that the National Insurance Commission (NAICOM) must show proof of defaulting insurance companies that failed to remit workers’ investments in the Federal Mortgage Bank of Nigeria (FMBN).
He said: “They need to tell us where the money is. This figure does not include 2020 to 2023. We have the law but we are not working with the law rather we complain on a daily basis.”
Dachung said the 10th House of Representatives will address the issue, adding that all the concerned CEOs must appear by Sept. 5.
In his contribution, Hon Kama Nkemkanma, who is also a member of the committee explained that what the lawmakers were investigating ran into billions of Naira and called for seriousness of all stakeholders in the investigation exercise.
He said: “What we are talking about here involves billions of unremitted money, I will want us to be more serious.”
The lawmaker charged the CEOs of insurance companies to appear rather than send their subordinates, saying that there is a need to get to the bottom of the problem.
Another member of the committee, Hon. Timilehin Adelegbe, said the issue of non-remittance of workers’ NHF contributions was not something to joke with.
He added that for any outstanding unremitted funds, the CEOs should be held responsible and that if they failed to appear before the ad-hoc committee at its next hearing, the Committee would publish their names.
