NIGERIA (Abuja)-Speaker of the House of Representatives, Aminu Waziri Tambuwal has directed its ad hoc committee to investigate the mystery behind the disbursement of N300 billion power and airline intervention fund that has suddenly dwindled to N100 billion.

He made this known yesterday in Abuja during the opening ceremony of the public hearing organized by the ad hoc committee on the disbursement of public funds by Bank of Industry Limited, BOI, under the power and airline intervention fund as established by Central Bank of Nigeria, CBN.

According to Tambuwal, the House of Representative shall do everything within its capability to investigate any matter that may undermine the growth of the federation.

“We shall continue to devote attention to situations where the action of government or any of its agencies infringe on the constitution.

“By some accounts, the volume of this fund which originally amounted to about N300 billion has now dwindled to less than N100 billion”.

At the investigative hearing, it was gathered that the sum of over N200 billion have been disbursed through deposit money banks to certain individuals and corporate organisations without following due process.

 “You will agree with me that we have a very serious issue here which falls within the precincts of the constitutional mandate given to the National Assembly that all revenues belonging to the federation, must be paid into the consolidated revenue fund, and withdrawals therein shall only be carried out solely upon the authority of an Act of the National Assembly”, he said.