Follow Us on Google
From Ndubuisi Orji, Abuja
The House of Representatives, on Monday, commenced the investigation of the Central Bank of Nigeria(CBN) and commercial banks over N1.2 trillion unclaimed funds in banks
The deputy speaker, Idris Wase, while declaring open an investigative hearing, organised by the House Ad-hoc Committee on Recovery of unclaimed funds in Nigerian Commercial Banks & the Infractions by the Central Bank of Nigeria (CBN) said the probe is in line with the mandate of the parliament to expose corruption or waste.
Wase noted, that from the body of the motion that led to the probe, there is about N1.2 trillion not paid into the consolidated revenue fund of the government. He stated this fund is needed so that “we can improve the infrastructure deficit and other challenges in our nation.”
The deputy speaker added that the investigation will help to unearth the truth about the unclaimed fund and come up “with interventions that would improve and mitigate the situation.”
Earlier, the chairman of the investigative panel, Unyime Idem, in his opening remarks, explained that the objective of the committee is to recover hanging funds currently in the hands of unauthorised persons and corporate bodies.
Idem noted that the probe has become imperative, especially against the backdrop of budget deficits, in the country, in recent times.
