By Sandra Micheals
The House of Representatives Ad-hoc Committee investigating the operations, funding sources, and performance of Development Finance Institutions (DFIs) says it would invoke its constitutional powers compelling the appearance of the Bank of Industry (BOI) following the bank’s failure to honour its invitation.
The House of Representatives Ad-hoc Committee investigating the operations, funding sources, and performance of Development Finance Institutions (DFIs) says it would invoke its constitutional powers compelling the appearance of the Bank of Industry (BOI) following the bank’s failure to honour its invitation.
The exercise forms part of the House’s broader oversight responsibility to assess how development finance interventions have been implemented and to determine their measurable impact on key sectors of the Nigerian economy.
During the session, the committee directed NADF to provide additional documentation, particularly comprehensive details of loans and interventions extended to farmers affected by the ginger blight disease outbreak, which significantly disrupted ginger production in parts of the country.
The NCGC, which informed the panel that it is a newly established institution that has only recently commenced operations, was asked to return with more detailed documentation outlining its statutory mandate, governance structure, operational model, funding sources, and emerging programmes.
Similarly, NIRSAL was directed to make fresh and more detailed submissions covering its interventions within the period under review, including beneficiary data, funding volumes, and performance metrics.
However, the Central Bank of Nigeria and other relevant development finance institutions are expected to appear before the committee at the next adjourned sitting as the investigative hearing continues.
