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How NSIA CEO allegedly colluded with reps to bar journalists from covering N1.017trn probe



Details have emerged on why the House of Representatives arm of the National Assembly barred journalists from covering the probe into the activities of the Nigerian Sovereign Investment Authority (NSIA), NSIA, specifically the utilisation of the N1.017 trillion accrued into the Sovereign Wealth Fund, chaired by Hon. Ademorin Kuye.

Recall that the house of representative set up an ad hoc committee chaired by Hon. Dachung Bagos to investigate the activities of the NSIA from inception to date. The resolve was made following a motion passed and adopted by Hon. Yusuf Ahmed Doro, who stated the need to assess the funds accrued into the Agency’s account.

Hon. Doro noted that the agency was empowered to receive, manage and invest the initial and future contribution on behalf of Nigeria in each of the future Generation Fund, the Nigeria Infrastructure Fund and Stabilization Fund pursuant to the allocation of contributions of the Federal Government, State Governments, Federal Capital Territory, and Local Government Area councils to prepare for the eventual depletion of Nigerians Hydrocarbon Resources for developing critical infrastructure in Nigeria.

However, the investigation as of Friday last week, took a twist after a few hearings.

Members of the media were barred from covering the investigations at the National Assembly by the committee noting that it would continue the investigation behind closed doors, without any justifications.

This came following the stiff opposition of Association of Local Government of Nigeria (ALGON) against the presentations made by the Managing Director/Chief Executive Officer of NSIA, Mr. Aminu Umar-Sadiq and Nigeria Governors’ Forum (NGF) during the Wednesday hearing.

The ALGON President, Comrade Kolade Alabi who denied knowledge of any projects being implemented through the NSIA across the 774 LGAs, demanded for details of beneficiaries of various projects reeled out by the NSIA Chief Executive Officer.

According to him: “None of this project, to the best of our knowledge can be seen or felt at the Local Government.

“They have spoken well in partnership with the communities but my question is how can you partner with the communities without Local Governments?”

In a twist of fate, a source who spoke to this newspaper, disclosed the real reason why the committee sought to continue her investigations behind closed doors.

According to the source, Mr. Umar-Sadiq, is afraid and is fighting tooth and nail to keep his job as the MD/CEO of NSIA.

The source added that the NSIA boss does not want any of his alleged dubious deals to be known by anyone, as such he is making moves to ensure that the hearing is kept away from the eye of the public.

Various probes in this country including NNPC, NDDC, PenCOM, and most recently the Federal Character Commission probe have all be heard in full glare of the media without their CEOs conspiring with lawmakers to keep the media out. The big question on the lips of many is that why is the NSIA trying to keep his own private?