Senate Queries NHIS Over N122bn Fixed In Commercial Bank Without FG’s Approval

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 query was raised today by 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 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.

  • Related Posts

    SERAP gives CBN 7 days to account for allegedly diverted $6.23m election funds, ₦1.63trn other public funds

      The Socio-Economic Rights and Accountability Project (SERAP) has given the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, and the CBN seven days “to account for…

    Tinubu Files Case In US Court To Block Release Of Alleged Drug Trafficking Record — Lawyer

      President Bola Tinubu has filed a challenge in a US court to prevent the U.S. Department of Justice, FBI and DEA from releasing records linked to allegations of drug…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    ’20 injured, 50 houses damaged’ as gas pipeline explodes in Rivers

    • By admin
    • October 16, 2026
    • 3 views
    ’20 injured, 50 houses damaged’ as gas pipeline explodes in Rivers

    Army arrests fake soldier accused of defrauding Gombe, Bauchi women

    • By admin
    • October 16, 2026
    • 10 views
    Army arrests fake soldier accused of defrauding Gombe, Bauchi women

    Corps member dies in Orientation camp

    • By admin
    • October 15, 2026
    • 4 views
    Corps member dies in Orientation camp

    Bandits fleeing Zamfara kill 5, burn houses in Niger

    • By admin
    • October 15, 2026
    • 4 views
    Bandits fleeing Zamfara kill 5, burn houses in Niger

    No Plan To Increase Electricity Tariff, FG Insists

    • By admin
    • October 15, 2026
    • 5 views
    No Plan To Increase Electricity Tariff, FG Insists

    No Vacancy In Senate Presidency, Senators Declare

    • By admin
    • October 15, 2026
    • 6 views
    No Vacancy In Senate Presidency, Senators Declare