The House of Representatives in Nigeria will investigate allegations that local telecoms companies are diverting funds away from state coffers.

House member Honorable Yusuf Ayo Tajudeen said operators are exploiting loopholes in the country's telecoms regulations to hold on to the funds.

Local operators, under the auspices of The Association of Licensed Telecommunications Operators of Nigeria (ALTON), have denied the allegations and said they would welcome an investigation.

Gbenga Adebayo, Chairman of the Association, said described operators in the country as "responsible citizens who pay all the legally required fees."

Adebayo further slammed the government under the watch of the National Economic Council for allowing its agencies to indiscriminately impose taxes and levies on operators.

"There is need for members of the House of Representatives to substantiate their claims, rather than making a media show of it," he added.

Adebayo challenged the government to publicise the amount of money that had been paid by telecoms operators in the country since the advent of Global System for Mobile Communication (GSM).

"Government would be amazed to know of the contributions of telecoms to national development. It is therefore not fair on the part of government to whip up public sentiments against telecoms operators who are law abiding and pay their taxes promptly and correctly," Adebayo said.