The House of Representatives Wednesday summoned the Chief Executive Officers (CEOs) of insurance companies over non remittance of over N267 billion workers investment in the National Housing Funds (NHF) in 2019.
It added that the insurance companies should come along with all the amount they had remitted to the Federal Mortgage Bank of Nigeria (FMBN), insisting that they should also provide evidence of sanctions to those who had defaulted.
The Chairman of the Ad hoc committee investigating non-remittance to the National Housing Fund (NHF) and utilisation of the funds from 2011, Hon. Dachung Bagos, issued the summon following their failure to appear before the committee in Abuja on Tuesday at the resumed hearing to explain the unremitted fund.
Bagos added that the insurance companies should come and explain why they are still owing over N267 billion of workers’ investment to NHF in 2019.
He stated: “In 2019 alone, 54 insurance companies have not remitted N267 billion. 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.”
The chairman said the National Insurance Commission (NICON) must show proof of insurance companies who were in default of remitting workers investment to Federal Mortgage Bank of
Bagos assured that the 10th House of Representatives would address the issue, adding that all the concerned CEOs must appear by next Tuesday.
In his intervention, a member of the committee, Hon. Timilehin Adelegbe, said the issue of non remittance of workers NHF contribution was not something to joke with.
“For any outstanding unremitted fund, the CEOs should be held responsible and if they fail by next hearing, we will publish their names,” he noted.
Contributing,, Hon. Kama Nkemkanma, called on the CEOs of insurance companies to appear rather than sending their subordinates, saying that there was the need to get to the bottom of the problem.
According to him, What we are talking about here involves billions of unremitted money, I will want us to be more serious.
