Nasarawa Assembly to Access Bank: Stop interest deduction on money yet to be accessed by SUBEB

2 weeks ago | 137

Access Bank

THE Nasarawa State House of Assembly has given a three-day ultimatum to Access Bank Nigeria Limited to resolve all pending issues relating to the non-release of money meant for the payment of State Universal Basic Education Board (SUBEB).

The assembly also asked the Bank to stop the continued deduction of interest on money yet to be released to the board.

The Chairman, House Committee on Education, Science and Technology, Daniel Ogazi, gave the order when the Executive Director, Commercial Banking, Access Bank, Hadiza Ambursa, led other management team of the bank to appear before the committee on Wednesday in Lafia.

Ogazi said that the House gave the bank another chance due to plea by Ambursa that she has just gotten the information on the issues at hand.

“We are giving you from now to Friday this week to resolve the matter at hand once and for all.
“So that by Monday next week, we will be able to inform the larger house on the progress made so far.

“We have invited the Group Managing Director of the Bank on the need for them to explain why the bank is holding the state government’s money meant for payment of State Universal Basic Education Board (SUBEB) contracts.

“And why there is continued deduction of interest by the bank on money yet to be released to SUBEB for payment to contractors.

“After our explanation, the Executive Director said that the committee should give her more time to resolve the issues.

“She informed us that she is just getting some of the information now and she needs time to meet with the board and state government.

“This is to discuss the issues extensively in order to resolve it once and for all,” Ogazi said.

The chairman urged the bank to stop deducting interest on the fund yet to be released to SUBEB as well as release money meant for SUBEB contracts.

“Non-payment of money to contractors that handled primary school projects is affecting the school projects and those contractors negatively,” he lamented.

Ogazi therefore urged the bank to do the needful in the interest of peace and development.

The News Agency of Nigeria (NAN) recalls that on the Assembly on Nov. 22, threatened to issue a warrant of arrest on the Managing Director of Access Bank.

That was if he failed to appear before its committee on Education within 24 hours.

The education committee chairman issued the threat when the Zonal Head of the bank, Mr Alexius Ayabam, appeared before it in Lafia.


- Nov. 24, 2021 @ 18:08 GMT |

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