By BEN AGANDE & Inalegwu Shaibu
ABUJA — Worried by the seeming lack of accountability in the disbursement of intervention funds by the Central Bank of Nigeria, CBN, to some troubled sectors in the nation’s economy, the House of Representatives, yesterday, directed its committee on Banking and Currency to investigate the source of funding as well as disbursement by the apex bank of funds to the banking an aviation sectors.

This is just as the Senate has also resolved to probe the management of Federal Government pension funds, after condemning the endless subjection of pensioners to verification exercises.

In a motion sponsored by Uzoma Nkem-Abonta, the House also requested President Goodluck Jonathan to include the statutory budget of the CBN as well as other independent revenue earning agencies of government in the 2012 Appropriation as required by the 1999 constitution.

Nkem-Abonta noted that the CBN granted public funds in the sum of N620 billion to private banks, N500 billion to private manufacturers, N200 billion to the textile industries and N100 billion to the aviation sector without approval of appropriate authority as provided in the 1999 constitution.

According to him, apart from these grants by the CBN, the apex bank, contrary to its core functions and mandate, acquired several hectares of land in the Federal Capital Territory for the purpose of investing in the hospitality industry, while also reportedly paying N17 billion for a property that had been sold for N1.8 bllion.

On the role of Asset Management Corporation of Nigeria’s involvement in the injection of funds to troubled banks, the House noted that the earlier injection of N821 billion as well as planned injection of another N3 trillion without approval was worrisome and called for investigation.

Senate to investigate Pension Fund

Meanwhile, the Senate has resolved to probe the management of Federal Government pension funds, following the adoption of a motion sponsored by Senator Heineken Lokpobiri and 25 others.

The Senate also urged President Jonathan to immediately stop verification exercises for pensioners which has brought untold hardship to most of the pensioners.

Senator Lokpobiri while moving the motion observed that pensioners are being subjected to degrading inhuman treatment in the process of verifications for their entitlements.

He further noted that pensioners were often made to loiter and sleep in public places for days for verification exercises that had become endless and persistent.

Senators were in support of the motion, even as they blamed the problem on corruption in the management of the pension scheme.

The Senators also called for the automation of the scheme to eliminate corruption, and make the process faster and efficient.

Senator Smart Adeyemi in his contributions decried management of pension schemes noting that the pains inflicted on pensioners was a sad tale for coming generations.

He said, AThe problem with our pension scheme is that of corruption, misplacement of priorities and misappropriation of funds,@ adding that the problems with the scheme would discourage people from being patriotic if something drastic was not done to change the situation.

Senator Ayogu Eze also contributing said it was inhuman to constantly subject very old people to long travels from their villages to the city for verification, making them to pass through very harrowing experiences.

Adding his voice to the poor pension management, Senator Barnabas Gemade called for the adoption of Independent National Electoral Commission, INEC process where all voters were registered in the registration of pensioners.

He said, AIt is absolutely in human to engage people of 80 years and above to stand in line for many hours in the name of verification. If we can go and register voters in every village, we can also go and register every pensioner in the villages and local governments.@

Senate President, David Mark, while ruling agreed with Gemade, and noted that the system of registering voters could be adopted in the verification of pensioners.

He said, AThe problem is not with the payment of the pensions, but the sufferings they go through to get paid. If INEC can register millions of Nigerians for elections, I don=t see why we cannot adopt the same method in the verification of our pensioners.