Reps Issue Ultimatum to CBN, Banks Over Missing Trillions in Agric Funds

By Linda Ike

House of Representatives ad-hoc committee probing agricultural subsidies and intervention funds from 2015-2025 has slammed key agencies for snubbing invitations, ordering the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank, SunTrust Bank, Stanbic IBTC Bank, and National Bureau of Statistics (NBS) to appear unconditionally.

Chairman Jamo Aminu expressed outrage at Wednesday’s hearing: “It is disheartening that despite repeated invitations from the House of Representatives to government agencies, some have refused to appear or have outrightly ignored this investigative process.”

He moved to invoke constitutional powers: “I am constrained to move a motion to compel NIRSAL MFB, the Central Bank of Nigeria, SunTrust Bank, Stanbic IBTC Bank and the National Bureau of Statistics to appear before this committee.”

The probe targets trillions spent on schemes like Anchor Borrowers’ Programme (ABP), AGSMEIS, and AADS amid persistent food insecurity.

Aminu warned defaulting banks like Jaiz, Unity, Sterling, and Access over shoddy submissions, “This committee will not accept half-truths, cosmetic compliance or administrative evasions.”

He stressed the mission, “Our focus is not merely on how much was released, but how the funds were applied, who benefited, what was achieved, and what value accrued to the Nigerian people.”

The panel plans forensic audits and site visits.

Speaker of the House, Tajudeen Abbas backed the probe: “There can be no national security without food security. t is unacceptable that trillions of naira were committed to agriculture with little impact on food security.”

He vowed no sacred cows, “No institution is above the law. No agency is immune from oversight.”