House Summons NSIA CEO over Funds for Low-income Earners’ Homes
The House of Representatives yesterday summoned the Managing Director of Nigeria Sovereign Investment Authority (NSIA) and heads of 11 affiliate companies over the management of public resources for the provision of affordable/social homes for the low-income earners in Nigeria.
The invitation which was sent via a letter with Reference No: HR/PAC/SCOS/9NASS/ QUE.64/56 dated 30th November, 2022, was targeted at revisiting the Auditor General for the Federation’s Annual Report on the management of resources for the provision of affordable/ social homes in Nigeria by Family Homes Fund Limited.
The letter reads: “I refer to our letter Ref. No. HR/PAC/ SCO5/9NASS/QUE.62/84 dated 18th November, 2022 inviting you to appear before the Committee on Friday 25h November, 2022 on the above subject matter. In view of the above, the Committee is in receipt of your correspondence with Ref. No. NSIA/NAS/HCPA/022/01 dated November 25, 2022 and resolved to request for a soft copy and 15 hard copies of a written brief on each of the following subsidiaries and Investment Companies of NSIA to enable the Committee carry-out its Legislative mandate.
The 11 companies summoned by the Committee includes:
NSIA Motorways Investment Company; FGF Private Equity Co. Limited; FGF PE Beta Limited; FGF Investment Limited; NSIA Property Investment company Ltd; NSIA Power Investment Company Ltd; NSIAAgriculture Investment Company Ltd; LUTH Advanced Medical Service Ltd;
FMCU Advanced Medical Diagnostic Ltd; AKTH Advanced Medical Diagnostic Limited and NSIA Healthcare Development and Investment Company Ltd.
“A new date has been fixed for your appearance. You are to cause appearance before the Committee on Monday 12th December, 2022 at 11:00am” the letter reads.
The Committee during its hearing also requested for relevant approvals from the Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed authorizing NSIA to grant loan of N1.5 billion to Family Homes on interest free basis.