{"id":126010,"date":"2026-03-05T16:06:23","date_gmt":"2026-03-05T15:06:23","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=126010"},"modified":"2026-03-05T16:06:23","modified_gmt":"2026-03-05T15:06:23","slug":"boi-defies-house-panel-faces-possible-warrant-over-dfis-investigation","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/boi-defies-house-panel-faces-possible-warrant-over-dfis-investigation\/","title":{"rendered":"BOI Defies House Panel, Faces Possible Warrant Over DFIs Investigation"},"content":{"rendered":"<div style=\"text-align: justify;\">By Tracy Moses<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The House of Representatives Ad-hoc Committee investigating the operations, funding sources, and performance of Development Finance Institutions (DFIs) has threatened to invoke its constitutional powers to compel the appearance of the Bank of Industry (BOI) following the bank\u2019s failure to honour its invitation.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The warning came on Wednesday after BOI neither appeared at the committee\u2019s inaugural investigative hearing at the National Assembly nor submitted the requested documents.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">At the session, three institutions, the National Agricultural Development Fund (NADF), the Nigerian Credit Guarantee Company (NCGC), and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), were present and made detailed presentations based on prior submissions to the committee.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Chairman of the committee, Hon. Mark Chidi Obetta, engaged the institutions in extensive deliberations, scrutinising their programmes, funding frameworks, intervention strategies, and performance records from 2018 to date.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cDevelopment finance institutions play a critical role in supporting strategic sectors of the economy, facilitating access to finance, and promoting inclusive growth,\u201d Obetta said.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cHowever, where public funds are involved, there must be transparency, accountability, and measurable outcomes. Our goal is not adversarial. It is to ensure that public resources deployed for development purposes deliver the intended impact for the Nigerian people.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">During the session, the committee directed NADF to provide additional documentation, particularly on loans and interventions extended to farmers affected by the ginger blight disease outbreak, which disrupted production in parts of the country. Lawmakers stressed the importance of understanding both the scale of financial support provided and the outcomes of these interventions.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The NCGC, a newly established institution that recently commenced operations, was asked to return with detailed documentation outlining its statutory mandate, governance structure, operational model, funding sources, and emerging programmes.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Similarly, NIRSAL was directed to make fresh and more comprehensive submissions covering its interventions within the period under review, including beneficiary data, funding volumes, and performance metrics.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In contrast, the BOI failed to submit the required documentation or appear before the committee despite repeated communications and formal invitations.<\/div>\n<div style=\"text-align: justify;\">Following a motion moved by Hon. Femi Bamisile, the committee resolved to issue a firm directive compelling BOI to urgently submit the requested reports and appear at the next hearing.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The panel warned that continued non-compliance could result in the issuance of a warrant of arrest to enforce attendance, in line with the constitutional oversight powers of the House of Representatives.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cOur investigation is focused on strengthening transparency, accountability, and efficiency in the management of public intervention funds,\u201d Obetta added. \u201cWe intend to carefully examine the flow of funds, the processes of disbursement, the performance of funded projects, and the recovery of loans where applicable.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">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.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Tracy Moses The House of Representatives Ad-hoc Committee investigating the operations, funding sources, and performance of Development Finance Institutions (DFIs) has threatened to invoke its constitutional powers to compel&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":118814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-126010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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