Agric subsidies intervention probe: Reps vow to summon CBN, NIRSAL, Banks, NBS

By Christiana Ekpa

The House of Representatives Ad-hoc Committee probing agricultural subsidies, intervention funds, aids and grants from 2015 to 2025 has vowed to compel the appearance of the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank, SunTrust Bank, Stanbic IBTC Bank and the National Bureau of Statistics (NBS) over their continued failure to honour parliamentary invitations.
At an investigative hearing on Wednesday at the National Assembly Complex, the committee expressed strong displeasure at what it described as persistent disregard for its summons by key government agencies and financial institutions.
Chairman of the committee, Hon. Jamo Aminu, warned that the House would invoke relevant constitutional provisions to enforce compliance if the defaulting institutions fail to appear unfailingly.
“It is disheartening that despite repeated invitations from the House of Representatives to government agencies, including those linked to the United Nations system, some have refused to appear or have outrightly ignored this investigative process,” Aminu said.
Consequently, the committee resolved to activate all constitutional mechanisms to compel the appearance of the CBN, NIRSAL MFB, SunTrust Bank, Stanbic IBTC Bank and the NBS, as well as to demand the submission of all required documents.
The panel is investigating trillions of naira spent on agricultural intervention programmes implemented by the Federal Government and the CBN between 2015 and September 2025, following a House resolution of July 23, 2025.

The probe covers major schemes such as the Anchor Borrowers’ Programme (ABP), the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS), the Accelerated Agricultural Development Scheme (AADS), the Nigerian Electricity Stabilisation Fund (NESF), and other intervention windows.
While lamenting the absence of key institutions, the committee also faulted Jaiz Bank, Unity Bank, Sterling Bank and Access Bank for submitting incomplete and unsatisfactory documents. Although representatives of the banks appeared at the hearing, the committee said their submissions fell short of required standards.
The affected banks were given one week to submit comprehensive documentation strictly in line with the committee’s guidelines, while the heads of all concerned institutions were directed to appear personally before the panel.
“This committee will not accept half-truths, cosmetic compliance or administrative evasions,” Aminu warned, stressing that any misleading or falsified records would attract sanctions under Sections 88 and 89 of the 1999 Constitution (as amended).
In his opening remarks, the chairman emphasised that the investigation was not a witch-hunt but a constitutional responsibility aimed at ensuring transparency, accountability and value for money in public agricultural spending.
“Our focus is not just how much was released, but how the funds were applied, who benefited, what was achieved, and what value accrued to the Nigerian people,” he said.
He further disclosed that the committee would carry out forensic audits and on-site inspections of ministries, agencies, banks and project locations to verify submissions and confirm the physical existence and impact of funded projects.
Recall that during the inauguration of the committee last week, the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, represented by Hon. Sunday Umeha, pledged the full support of the House, warning that no institution would be shielded from scrutiny.
“There can be no national security without food security,” the Speaker declared, noting that despite massive spending on agriculture over the past decade, food prices remain high and food insecurity persists.
“It is unacceptable that trillions of naira were committed to agriculture with little impact on food security, rural livelihoods and import dependence,” he said.
The Speaker further warned that any Ministry, Department or Agency, as well as any Participating Financial Institution that fails to honour invitations, withholds information or submits false records would face summons, contempt proceedings or warrants in line with constitutional provisions and the Legislative Houses (Powers and Privileges) Act.
“No institution is above the law. No agency is immune from oversight,” he stated.