The Public Accounts Committee (PAC) of the House of Representatives has summoned the Managing Director, Bank of Industry (BoI), Olukayode Pitan to appear before it in 24 hours’ time.
He has up to 11am Friday to appear before the Committee over N11billion the bank has been unable to recover.
In his place at the PAC meeting yesterday, was the bank’s Chief Financial Officer, Taiwo Kolawole, who said Pitan had to be at another previously scheduled meeting in Enugu.
This angered the Kingsley Chinda-led Committee that sent a reminder of its earlier invitation to Pitan on July 28, saying the MD’s attitude to the House was denigrating,
Chinda said: “Over N8billion loan given out have not been recovered and the bank is not doing anything about it according to the query. The second query is on another N2billion unexplained expenditure.
“Considering the enormity of the sum involved, over N11billion as contained in the query by the AuGF, and considering the fact that the MD has given more importance to a meeting with Enugu State government.
“We are tempted to take action as appropriate but in the spirit of fair hearing, we want to give him another opportunity so that he can appear before us tomorrow, Aug 18, 2017 by 11 am, failure of which we will order for his arrest.”
