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Senate Interrogate NHIS Over N122bn Fixed in Commercial bank Without Federal Government   Approval

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The query was raised today by the Senator Matthew Urhoghide, Peoples Democratic Party, PDP, Edo South led Senate Committee on Public Accounts, just as it is also demanding for N3.7bn interest accrued from N122bn fixed in the Commercial bank.

The Senate has taken a swipe at the National Health Issuance Scheme (NHIS) over N122 billion fixed in an unnamed commercial bank in the country without the approval of Auditor General of the Federation.

The accusations by the Senate Committee were sequel to a query given to the NHIS in the 2015 report of Auditor General of the Federation (AGF) which was submitted to the Committee.

The Chairman of the Committee, Senator Urhoghide expressed dissatisfaction with N122bn fixed in the commercial bank by the agency, asked the NHIIS to submit the statement of account related of the money in the commercial bank by next week Tuesday.

In his defence,  the Executive Secretary of the NHiS, Professor Nasir Sambo who claimed that  NHIS Act empowers the Scheme to earn interest on its investment, said that  NHIS Act, part 4(Sec0 11 empowers the Scheme to earn interest on its investment . The Scheme not funded by federal government.

But Senator Urhoghide tackled the Executive Secretary of NHIS that the interest rate from the N122 billion fixed which is supposed to be remitted federation account.

Urhoghide said, “The Committee is interested in getting the statement of the account. We want to know the detail of accrued of N3.7bn by Tuesday latest, we want the statement of account on the investment.”

The querry of Auditor General read.  “Investment of N122bn fixed deposit with approval of Auditor General of Federation, interest rate of N3.7bn was not remitted to consolidated revenue fund.

“Four vehicles of the scheme were taken away by the former officers of the scheme. N161 million was for consulting without evidence.”

The NHIS however promised to produce the documents supporting the N161 million consultancy fee at the next sitting of the committee.

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