Senate questions NHIS over ‎N122bn fixed in commercial bank‎


The Senate Public Accounts Committee has queried the National Health Insurance Scheme over the sum of N122bn fixed in an unnamed commercial bank.

The Auditor General of the Federation approved the deposit but the committee demanded details of the N3.7bn interest which accrued to the money.

The Chairman of the Committee, Senator Mathew Urhoghide, who expressed dissatisfaction with N122bn fixed in the commercial bank by the NHIS, asked the agency to submit the statement of account concerning the money next Tuesday.

However, Executive Secretary of the NHIS, Prof Nasir Sambo, 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.

The Senate committee chairman, Urhoghide, disagreed with the NHIS boss over his submission and said that the interest rate from the N122bn fixed was supposed to be remitted to the federation account.

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

“We want to know the details of the accrued N3.7bn by latest Tuesday; we want the statement of account on the investment.”‎

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