HOUSE LAUNCHES PROBE INTO AGRICULTURAL FUNDING MISMANAGEMENT

…Chairman Okafor Declares: “Nigerians Deserve to Know Where the Money Went”

By Peter Jatau, National Assembly Correspondent
Abuja, April 8, 2025

The House of Representatives has officially commenced an investigative hearing into the alleged mismanagement of billions of naira in agricultural funding disbursed through various government agencies and schemes outside the Federal Ministry of Agriculture.

The hearing, led by the Chairman of the House Committee on Nutrition and Food Security, Hon. Deacon Chike Okafor, Ph.D., kicked off Tuesday at the National Assembly’s Conference Hall 028.

In a firm but conciliatory tone, Okafor emphasized that the exercise was not a witch-hunt, but a move to uncover the truth behind years of questionable disbursements and underperformance.

“Despite trillions spent on agricultural interventions,” Okafor said, “millions of Nigerians still struggle to afford basic meals. If funds were properly used, Nigeria would not be facing a food crisis of this magnitude.”

The probe centers around key federal bodies, including the Central Bank of Nigeria (CBN), Bank of Industry (BOI), Bank of Agriculture, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), and the National Agricultural Development Fund, among others.

The Committee has demanded detailed reports dating back to 2017, covering disbursement records, beneficiaries by state and zone, terms of loan agreements, recovery strategies, and future program projections.

Specifically under scrutiny is the CBN’s disbursement of ₦1.12 trillion under the Anchor Borrowers Program to over 4.6 million farmers, and NIRSAL’s ₦215 billion funding portfolio.

Okafor underscored the House’s commitment to accountability, urging agency heads to cooperate fully. “Accountability is not optional—it is a necessity,” he said. “Nigerians deserve to know how their money has been spent.”

He also stressed the Committee’s dual focus on nutrition and food security, calling both “inseparable pillars” of national development aligned with the administration’s Renewed Hope Agenda.

As the hearing progresses, the Committee aims to provide clarity, demand accountability, and propose actionable reforms to ensure every naira spent in the agricultural sector drives real impact.

READ FULL SPEECH BELOW

SPEECH BY THE CHAIRMAN, HOUSE COMMITTEE ON NUTRITION AND FOOD SECURITY, HON. DEACON CHIKE OKAFOR Ph.D ON THE INVESTIGATION INTO THE ALLEGED MISUSE OF GOVERNMENT INTERVENTIONS AND AGRICULTURAL FUNDING BY DEPARTMENTS, AGENCIES, SCHEMES AND PROGRAMMES OF THE FEDERAL GOVERNMENT OUTSIDE THE FEDERAL MINISTRY OF AGRICULTURE, HELD ON TUESDAY 8^TH APRIL, 2025 IN CONFERENCE HALL 028, HOUSE OF REPRESENTATIVES NATIONAL ASSEMBLY, ABUJA.

PROTOCOL

It is with a deep sense of national commitment that I welcome you on behalf of the Hon. Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas and my colleagues, Hon. Members of the House Committee on Nutrition and Food Security, to the first Investigative Hearing of the Committee.

This hearing is not a witch-hunt. Our purpose is not to target individuals or institutions but to uncover the truth, identify systemic failures, and ensure that public funds allocated for agricultural development are utilized transparently and effectively. The unfortunate reality today is that despite huge sums of money budgeted and disbursed over the years for agricultural programs, Nigeria continues to grapple with food scarcity, rising food prices, and malnutrition. If these funds had been judiciously spent, we would not be facing the current crisis where millions of Nigerians struggle to afford basic meals.

A motion titled “ALLEGED MISMANAGEMENT OF GOVERNMENT AGRICULTURAL INITITIVES AND FUNDING BY DEPARTMENTS, AGENCIES AND GOVERNMENT PROGRAMS OUTSIDE THE FEDERAL MINISTRY OF AGRICULTURE AND FOOD SECURITY was referred to the Committee after an extensive deliberation on the floor of the House of Representatives and a Resolution reached.

The Resolution, was to thoroughly investigate government agencies/schemes concerned in the issue, which includes Central Bank of Nigeria, Nigeria Incentive-Based Risks Sharing for Agricultural Lending, Bank of Industry, Bank of Agriculture, National Agricultural Development Fund, and indeed other concerned organisations/schemes.

As contained in the motion, the House is interested to know the following:

• How Central Bank of Nigeria, through the Anchor Borrowers Program (ABP) disbursed about 12 trillionnaira to 4.67 million farmers involved in either maize, rice or wheat farming through 563 anchors.
• How Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) disbursed ₦215,066,980,274.50so far to facilitate agriculture and agrobusinesses.
• How Bank of Industry disbursed ₦3 billionto 22,120 small holder farmers through the Agriculture Value Chain Financing (AVCF) programme. Additionally, the bank funded 49 agro and food processing businesses with ₦59.4 billion in loans.
• In 2023, the Federal Government unveiled a N5 billionloan facility to the Bank of Agriculture for Livestock farmers across the country.
• National Agricultural Development Fund in March, 2024 inaugurated a ₦1.6 billionRecovery Fund for the Ginger Blight Epidemics Central Task Force (GBECT) for the control of blight disease in Ginger
• And indeed other interventions and programmes done by relevant Agencies for agricultural development and food security.

One of the key oversight mandates of the Committee is to ensure proper implementation of intervention programmes by relevant Ministries, Departments and Agencies of government related to food security and nutrition. Investigations, monitoring of resource allocation, advancement of new laws and strengthening of existing ones, among others, on matters relating to nutrition and food security, are comprehensively contained in the Committee’s jurisdiction, as captured in the Standing Order of the House, Order 20 B, No. 98 (2) a – l.

Kindly note that Nutrition and Food security are twin issues that cannot be separated and have been in the front burner of the Renewed Hope Agenda of the present Administration. The creation of the Committee on Nutrition and Food Security is the legislative response to join forces with the Executive arm of government and other stakeholders to tackle these issues and make Nigeria, a food secured and nourished populace.

The Committee therefore has requested for the following information, covering the period under review (2017 to 2024):

1. The legislation and or statuses authorizing/mandating your Bank in its responsibilities
2. Proof of Fund received by the Bank from the Federal government, other agencies or intervention schemes

• Name, addresses and contact persons of relevant donor partners collaborating with your Bank.

1. Name, addresses, and contact details of anchors who disbursed funds for the Anchor Borrowers Program (ABP) to millions of farmers involved in either maize, rice or wheat farming.
2. Other agricultural related loans disbursed within the period under review
3. The list of beneficiaries according to states and geopolitical zones

• Terms and conditions of the loans, including recovery plan, where necessary.
• Performance of the Bank in achieving food security and nutrition

1. Key food security activities/programmes including projects undertaken or ongoing either separately or in collaboration with other partners (indicate Date, Venue/location, beneficiaries and possible cost implication etc)
2. Projected activities, programmes and projects for the 2025 fiscal year (indicate date, Venue/location, Sources of Funding and Cost estimate), in relations to enhancing food security and nutrition.
3. Any other information in your opinion that will facilitate the investigation.

The list of Agencies invited for the Investigative Hearing are:

1. CENTRAL BANK OF NIGERIA
2. BANK OF INDUSTRY
3. NATIONAL AGRICULTURAL DEVELOPMENT FUND
4. NIGERIA AGRICULTURAL QUARANTINE SERVICE
5. AGRICULTURAL RESEARCH COUNCIL OF NIGERIA
6. NATIONAL AGRICULTURAL LAND DEVELOPMENT AUTHORITY
7. NIRSAL MICRO-FINANCE BANK
8. FERTILIZERS PRODUCERS AND SUPPLIERS ASSOCIATION OF NIGERIA
9. NIGERIA INCENTIVE-BASED RISK SHARING SYSTEM FOR AGRICULTURAL LENDING PLC
10. BANK OF AGRICULTURE
11. NATIONAL AGRICULTURAL SEED COUNCIL

New MD appointed in Bank of Agriculture

We are all aware that the Bank of Agriculture just had a new MD recently appointed. A letter to that effect has been forwarded to the Committee by the Bank.

Today, we will listen to submissions from relevant agencies, stakeholders, and experts. We expect full cooperation, honest disclosures, and actionable recommendations. Accountability is not an option; it is a necessity. The Nigerian people deserve to know how their resources are being used, and this Committee is committed to ensuring that every kobo allocated to agriculture serves its intended purpose.

To the representatives of the agencies present here, I urge you to approach this hearing with a sense of responsibility. The goal is not to antagonize but to collaborate in finding solutions. Where there are gaps, let us address them. Where there are inefficiencies, let us correct them. And where there are infractions, let us take necessary actions to prevent recurrence.

Finally, to the media and civil society organizations here today, your role in holding government accountable is crucial. We encourage objective reporting and constructive engagement as we work towards a Nigeria where no citizen goes to bed hungry.

With that, I declare this investigative public hearing open. I look forward to a robust, insightful, and solution-driven deliberation.

Thank you, and God bless the Federal Republic of Nigeria.

Hon. DEACON CHIKE JOHN OKAFOR, Ph.D.

Chairman, House Committee on Nutrition and Food Security

House of Representatives, National Assembly