The House of Representatives ad hoc committee investigating non-remittance to the National Housing Fund (NHF) and utilisation of the funds from 2011 has summoned concerned chief executive officers of insurance companies.

Rep. Dachung Bagos, the committee’s chairman, issued the summon following their failure to appear before the committee in Abuja on Tuesday to explain the unremitted fund.

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

Mr Bagos said 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).

He said the insurance companies should come along with all the amount they had remitted to FMBN, adding that they should also provide evidence of sanctions to those who had defaulted.

According to him, 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 are not working with the law. Rather, we complain on a daily basis,” he said.

Mr Bagos said the 10th House of Representatives will address the issue, adding that all the concerned CEOs must appear by September 5.

Rep. Kama Nkemkanma (LP-Ebonyi), a committee member, said: “What we are talking about here involves billions of unremitted money; I will want us to be more serious.”

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

Rep. Timilehin Adelegbe (APC-Ondo), also a committee member, said the non-remittance of workers’ NHF contributions was not something to joke with.

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

(NAN)