Reps Extends Invitation To Insurance Companies Over Non-Remittance Of NHF

The House of Representatives ad-hoc committee investigating the non-remittance of the National Housing Fund (NHF) and utilisation of the funds from 2011 to date has summoned concerned Chief Executive Officers (CEOs) of insurance companies to explain the reason for the non-remittance of N267 billion workers investment in the National Housing Fund, NHF for the year 2019.

The chairman of the committee, Hon. Dachung Bagos, issued the summons following their failure to appear before the committee in Abuja to explain the unremitted funds.

He said that the insurance companies should come and explain why they are still owing over N267 billion of workers investment to NHF in 2019.

He also said that all the concerned CEOs must appear not later than Tuesday next week.

He said that the insurance companies should come along with all the documents showing the amount they had remitted to the Federal Mortgage Bank of Nigeria, FMBN, saying that they should also provide evidence of sanctions to those who had defaulted.

According to Bagos, in 2019 alone 54 insurance companies have not remitted N267 billion.

“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, ” Hon Bagos said.

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In his contribution, Hon. Kama Nkemkanma, a member of the committee advised the committee to be more serious in handling the matter.

He called on the CEOs of insurance companies to appear rather than send their subordinates, as there was the need to get to the bottom of the problem.

Similarly, another member of the committee, Hon. Timilehin Adelegbe (APC-Ondo), said the issue of non-remittance of workers’ NHF contributions was not something to joke with.

“For any outstanding unremitted fund, the CEOs should be held responsible and if they fail by next hearing, we will publish their names,” he said.

Showing proof

In his ruling, the chairman of the committee, Hon Bagos said that the National Insurance Commission (NICON) must show proof of insurance companies who were in default of remitting workers’ investments to the Federal Mortgage Bank of Nigeria (FMBN).

Emmanuel Ukoh