The House of Representatives Ad hoc committee investigating non-remittance to the National Housing Fund (NHF) and utilisation of the funds from 2011 has summoned concerned Chief Executive Officers (CEOs) of 54 insurance companies.
This is to explain the reason for over N267 billion unremitted workers’ investment in NHF only for the year 2019.
Chairman of the committee, Dachung Bagos, issued the summon following their failure to appear before the committee in Abuja on Tuesday to explain the unremitted fund.
Bagos said for 2019 alone, the 54 insurance companies did not remit N267 billion.
He said the insurance companies need to come and explain why they still owe over N267 billion of workers’ investment to NHF in 2019.
The committee chairman said the National Insurance Commission (NICON) must show proof of insurance companies who were in default of remitting workers’ investments to the Federal Mortgage Bank of Nigeria (FMBN).
He further asked the insurance companies to come along with evidence of all the amount they had remitted to FMBN and also provide evidence of sanctions to those who had defaulted.
“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, ” he said.
Dachung said the 10th House of Representatives will address the issue, adding that all the concerned CEOs must appear by September 5.
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