By Adeyemi David
An Ad hoc Committee of the House of Representatives has threatened to issue a warrant of arrest against the Managing Director of the Bank of Industry (BOI), Olasupo Olusi, over his failure to appear before it to account for the performance of funds managed by the bank.
The committee, which is investigating the operations, funding sources and performance of Development Finance Institutions (DFIs), issued the warning on Wednesday during a public hearing in Abuja.
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In his ruling, Chairman of the committee, Mark Obetta (LP-Enugu), said the hearing was convened to scrutinise programmes, funding frameworks, intervention strategies and performance records of relevant agencies from 2018 to date.
According to him, the exercise forms part of the National Assembly’s broader oversight responsibility to assess how development finance interventions have been implemented and to determine their measurable impact on key sectors of the Nigerian economy.
Obetta expressed displeasure over the absence of the BOI managing director, stating that the bank not only failed to honour the invitation but also did not submit required documentation despite multiple communications.
“It is the resolve of this committee to issue a firm directive compelling the bank to urgently submit the requested documents and appear at the next hearing,” he said.
“Continued non-compliance could result in the issuance of a warrant of arrest to enforce attendance, in line with the constitutional oversight powers of the House of Representatives.”
Other institutions represented at the hearing included the National Agricultural Development Fund (NADF), the Nigerian Credit Guarantee Company (NCGC), and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).
Lawmakers requested comprehensive details of loans and interventions extended to farmers affected by the recent ginger blight disease outbreak, which significantly disrupted ginger production in parts of the country.
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The panel also directed the NCGC to provide detailed documentation outlining its statutory mandate, governance structure, operational model, funding sources and emerging programmes.
Similarly, NIRSAL was asked to submit fresh and expanded documentation covering its interventions within the review period, including beneficiary data, funding volumes and performance metrics.
The committee maintained that all relevant agencies must comply fully with its requests as part of efforts to strengthen transparency and accountability in the management of development finance resources.
