The House of Representatives Committee on Urban Development has queried the change of name and ownership of a government financial institution from Urban Development Bank of Nigeria Plc to Infrastructure Bank Plc without legislative approval.
The lawmakers also demanded details on how the bank was transformed, projects embarked on and funded by the bank, information on donor agencies in partnership with the bank, as well as details of fund utilisation, among other inquiries.
Chairman of the Committee, Hon. Awaji-Inombek Abiante, issued the directives when he led committee members on an oversight visit to the bank in Abuja on Wednesday.
The bank is dedicated to providing financial solutions to support key long-term infrastructure projects, including transportation infrastructure, municipal common services, mass housing and district development, solid waste management and water provision, and power and…
Read More