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Reps summon MDAs over ₦1tr unclaimed fund

The House of Representatives has threatened to summon Ministries Departments and Agencies (MDAs) of government, commercial banks and relevant bodies involved in the unclaimed funds and infractions alleged by the central bank of Nigeria (CBN).

The Chairman of the adhoc committee investigating the unclaimed funds in Nigeria Commercial Banks, Uyime Idem who stated this at the resumed hearing of the committee, said legislative measures will be applied to sanction defaulters who shun the committee’s invitation upon its next sitting.

He noted that the discovered sum of almost ₦1 trillion stashed in some commercial banks by some MDAs of government needs be investigated and produced by the banks for national usage.

The Committee while grilling the Union and City Banks of Nigeria, mandated both banks to reappear alongside other affected banks before the committee with required documents next Wednesday.

This was just as the Executive Director Operations and Technology of City Bank Ngozi Omokheni presented sketchy documents to the committee which had different figures and records.

Reporting by ibrahim Shehu; editing by Muzha Kucha