The Ad hoc Committee Chairman investigating the activities of Development Finance Institutions (DFIs) in the House of Representatives, Hon Emeka Anohu, has promised that the committee would expose any illegal activities going on in the DFIs.
Anohu, who disclosed this to journalists in Abuja after an investigative interaction with NERFUND, said the primary objective of setting-up DFIs was to help boost the economy and if that aim cannot be achieved, it means that the purpose has been defeated.
According to him, “on interviewing and having interactive session with some of these agencies, we understand that some of our monies are being misused, primarily because there is no structure on ground to channel those funds to get to the people that actually require those funds.”
Investigations and interactions, Anohu disclosed “are still on-going. Recently, on NERFUND presentation, we discovered a lot from that. How can a manager say somebody was hired to recover funds already expended? It means that the primary objective of setting-up those DFIs has been defeated, because you are now going to look for money, you are not directing the money to help boost the economy when it is in recession, so it is a floor.
“NEXIM Bank did their presentation on Thursday. We will also hear from Bank of Agriculture, Federal Mortgage Bank of Nigeria etc. The investigation is still on and I can assure you that we will unravel mysteries. Well, we asked for documentation prior to our interactive session with the BoI, and we were supplied most of the information required.”
“But we went further to request more direct information, which wasn’t given to us, so we had an interactive session and told them to produce those documents before February 1 and they agreed to do that so that we can be able to continue and let the public know exactly what is going on,” Anohu added.