Senate queries NHIS over N122bn bank deposit

The Senate Public Accounts Committee has queried the National Health Issuance Scheme over N 122bn fixed in an unnamed commercial bank.

The committee admitted that the Auditor General of the Federation approved the deposit but demanded details of the N 3. 7bn interest which accrued to the money.

The Senate Public Accounts Committee hinged its decision to query the NHIS on the 2015 report of the Auditor General of the Federation , which was submitted to the National Assembly.

The Chairman of the Committee, Senator Mathew Urhoghide , expressed dissatisfaction with N 122bn fixed in the commercial bank by the agency .

He asked the NHIS to submit the statement of account concerning the money in the commercial bank, next Tuesday.

The Executive Secretary of the NHIS, Prof Nasir Sambo , however , told the panel that the NHIS Act empowers the agency to earn interest on its investment.

He said Part 4 ( Section 11) of the NHIS Act empowered it to earn interest on its investment . He said the scheme was not being funded by the Federal Government .
Urhoghide disagreed with the NHIS boss over his submission and said that the interest rate from the N 122bn fixed was supposed to be remitted to the federation account .

He said , “ The committee is interested in getting the statement of the account .

“ We want to know the details of the accrued N 3. 7bn by latest Tuesday; we want the statement of account on the investment. ”

The Auditor General ’ s query read , “ The investment of N 122bn fixed deposit’ s interest of N 3. 7bn was not remitted to the consolidated revenue fund .

“ Four vehicles of the scheme were taken away by the former officers of the scheme . N 161m was for consulting without evidence . ”

The NHIS boss has , however , promised to produce the documents supporting the N 161m consultancy fee at the next sitting of the committee .