Reps summon Insurance companies over unremitted N267b workers’ investments in housing

The House of Representatives ad-hoc committee investigating the alleged non-remittance to the National Housing Fund (NHF) and utilisation of the funds from 2011 on Wednesday summoned some Chief Executive Officers of insurance companies in the country.

The Chairman of the committee, Dachung Bagos, summoned the affected CEOs after they failed to appear before the committee on Tuesday to explain the non-remittance of over N267 billion workers’ investments in NHF for 2019.

He also summoned the National Insurance Commission (NICON) to provide a list of insurance companies that have not remitted workers’ investments to the Federal Mortgage Bank of Nigeria (FMBN).

The chairman asked the insurance companies to provide evidence of the amount they had remitted to FMBN.

READ ALSO: Reps summon Accountant-General, CBN over National Housing Fund

He lamented that 54 insurance companies did not remit N267 billion NHF investment in 2019.

All the invited parties are to appear before the panel on September 5.

Bagos 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.”

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now