The House of Representatives yesterday called for designation of excess crude oil revenue savings in the custody of the Nigerian Sovereign Investment Authority (NSIA) in Nigerian banks.
Rep. Aminu Suleiman Goro (PDP, Kano), who sponsored the motion argued that, unless the various contributors to the fund are compelled to keep their funds in the Central Bank of Nigeria and other Nigerian banks, government may deviate from the original aim of the investment savings.
Rep. Jagaba Adams Jagaba (PDP, Kaduna), contended that the major problem in Nigeria was not lack of fund but its management.
Rep. Dakuku Peterside (PDP, Rivers) argued to the contrary counselling his colleagues to trade the path of caution because.
The matter was referred to the joint committees on Finance, Banking and Currency and Public accounts for further of legislative inputs.