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Reps give FMBN ex-boss 48 hours to render account


The House of Representatives yesterday gave former Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Richard Esina, 48 hours within which to render account or face sanctions.

Chairman, House Committee on Public Procurement, Wole Oke, gave the directive in Abuja at the resumed hearing of refusal by Ministries, Departments and Agencies (MDAs) to render their accounts to the Office of the Accountant General of the Federation (OAGF) from 2014 to date when management of FMBN appeared before it.

Also, the Committee summoned the Governor of the Central Bank of Nigeria, CBN, Godwin Emeifele and Director, Finance and Administration of the Bank over the development.


It said the way and manner in which public officers were playing with tax players’ money in their care was disheartening, particularly their failure to rendering proper accounts as an when due.

Management of the bank, represented by Abiye Yagboyaju had told the Committee that the CBN queried some infractions in the audited accounts submitted to it twice and that necessary corrections had be effected.He said management was only awaiting the approval of the board before submitting the audited accounts to the Office of the Accountant General of the Federation as required by law.

The committee described failure of MDAs to submit their reports as unacceptable and sought the opinion of representative of the Auditor General of the Federation on the implication of the former FMBN boss and its management’s action.


It said the development was a gross violation of the law, insisting that the action should be sanctioned to serve as a deterrent to other MDAs.

Defending his failure to submit the audited accounts, Esina claimed that he met the situation on ground on assumption of office, which the committee also dismissed as unacceptable and directed him to do everything possible within the next 48 hours to get the accounts ready.

It also insisted that the account should be transmitted to OAGF and the proof brought before the committee.The committee had place the bank on status enquiry two weeks ago when its management first appeared before it following alleged infractions in the audited accounts submitted to it.

Oke, who vowed that the committee would pursue the matter to a logical conclusion said it would also report the development in the MDAs to President Muhammadu Buhari through the Secretary to the Government of the Federation (SGF) and the Chief of Staff (COS) to the President so as guide the government while considering people for future appointments to public offices.


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FMBNWole Oke
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