Reps Quiz BOI Boss Over N500bn Airline Intervention Fund

The House of Representatives yesterday queried the acting managing director of the Bank of Industry (BOI) over the utilisation of the N500 billion power and airline intervention fund (PAIF) established by the Central Bank of Nigeria (CBN) in 2009 but domiciled and managed by the BOI.

Chairman of the House ad hoc committee investigating activities of Development Finance Institutions (DFI), Hon. Emeka Anohu (PDP, Anambra), has subsequently given the acting managing director of BOI, Mr. Waheed Olagunju, 72-hour ultimatum to furnish them with details of all the airlines that benefitted from the loan and their level of indebtedness.

Anohu, who made these demands at the on-going investigation where the acting managing director was quizzed, said it was necessary to know how the DFIs have impacted on the Nigerian people.

Members of the ad hoc committee were unanimous in insisting that the BOI account for how the N500 billion PAIF was utilised.

The New Telegraph, January 24, 2017

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