House of Reps warns banks and agencies over absence in agricultural subsidy probe, directing attendance and threatening sanctions for non-compliance
The House of Representatives’ ad hoc committee investigating agricultural subsidies, intervention funds, and grants from 2015 to 2025 has expressed strong displeasure over the persistent failure of government agencies and financial institutions to honour its invitations.
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At a hearing held Wednesday at the National Assembly Complex, Abuja, the committee warned that it would no longer tolerate absenteeism and directed NIRSAL Microfinance Bank, the Central Bank of Nigeria, SunTrust Bank, Stanbic IBTC Bank, and the National Bureau of Statistics to appear without fail.
Failure to comply, the panel said, would trigger legal action under the relevant provisions of the 1999 Constitution.
Committee chairman Jamo Aminu stated:
“It is disheartening that despite repeated invitations from the House of Representatives, some agencies refuse to appear or outrightly ignore this investigative process.
I am constrained to move a motion to compel these institutions to appear before this committee.”
The investigation focuses on major agricultural intervention programmes, including the Anchor Borrowers’ Programme, Agribusiness/SME Investment Scheme, Accelerated Agricultural Development Scheme, and the Nigerian Electricity Stabilisation Fund.
While some banks, including Jaiz Bank, Unity Bank, and Access Bank, attended the hearing, the committee criticised the quality of their submissions, stating that the information provided was neither comprehensive nor satisfactory.
The panel mandated that heads of all concerned institutions personally appear and submit detailed documentation in line with the committee’s guidelines.
“This committee will not accept half-truths, cosmetic compliance, or administrative evasions,” Aminu warned, stressing that misleading or falsified records would attract sanctions under Sections 88 and 89 of the 1999 Constitution (as amended).
Deputy chairman Sunday Umeha emphasised the national importance of the probe:
“There can be no national security without food security. It is unacceptable that trillions of naira were committed to agriculture with little impact on food security, rural livelihoods, and import dependence.”
The ad hoc committee plans to conduct forensic reviews and on-site inspections of ministries, agencies, banks, and project locations to verify claims and assess the impact of funded projects.
The investigation comes amid growing public concern over the effectiveness, transparency, and accountability of federally funded agricultural programmes.
Despite massive allocations through the Central Bank of Nigeria, deposit money banks, and development finance institutions, food inflation, rising insecurity, and continued import dependence have raised questions about fund utilisation.
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The committee aims to assess compliance, track project outcomes, and recommend sanctions or policy reforms where mismanagement or inefficiency is established.
Quadri Olaitan is a journalist and contributor to Freelanews.com, covering news, public affairs, and human-interest stories.
