Reps Investigate DFIs, Threaten BOI with Compulsion

On Thursday, the House of Representatives' ad hoc committee commenced an investigation into Development Finance Institutions (DFIs) in Nigeria. The committee, led by Hon.

Mark Obetta, has threatened to invoke its constitutional power to compel the Bank of Industry (BOI) to appear before it after the BOI failed to honor an invitation. The investigation also involves other institutions, including the National Agricultural Development Fund (NADF), the Nigerian Credit Guarantee Company (NCGC), and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).

The committee clarified that its investigation aims to strengthen transparency, accountability, and efficient management of public intervention funds, which are critical for supporting strategic sectors of the economy and promoting inclusive growth.