The representative threatened to order the arrest of the BoI MD for evading the invitation

The DPR Ad hoc Committee on Wednesday threatened to issue an arrest warrant against the Managing Director of Bank of Industry (BOI), Dr. Olasupo Olusi, for refusing the invitation.

The committee asked Olusi to be accountable for the performance of funds at the bank.

The committee, which investigates the operations, sources of funding and performance of Development Finance Institutions (DFIs), at a public hearing in Abuja, threatened to use its constitutional powers to compel the presence of the managing director.

In his decision, the chairman of the committee, Mark Obetta said the session aimed to review programs, funding frameworks, intervention strategies and performance records of related institutions from 2018 to the present.

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According to him, this exercise is part of a broader oversight responsibility to assess how development financing interventions have been implemented and to determine their measurable impact on key sectors of the Nigerian economy.

But he disagreed with the BIO managing director’s absence from the session, and said disrespect for parliament would not be tolerated.

Obetta said the bank not only failed to attend, but also failed to submit the necessary documentation to the committee various formal communications and invitations.

“This committee is determined to issue strict directions forcing banks to immediately submit the requested documents and appear at the next hearing.

“Continuous non-compliance may result in the issuance of an arrest warrant to enforce attendance, in accordance with the DPR’s constitutional oversight powers,” he said.

The institutions represented at the hearing included: National Agricultural Development Fund (NADF), Nigerian Credit Guarantee Corporation (NCGC) and Nigerian Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL).

The lawmakers demanded comprehensive details on loans and interventions provided to farmers affected by the ginger blight outbreak, which has significantly disrupted ginger production in several regions of the country.