House of Representatives’ Ad hoc Committee probing into agricultural subsidies, intervention funds, aids and grants from 2015 to 2025 has read the riot act to the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank, and some commercial banks over their persistent failure to honour parliamentary invitations.

At an investigative hearing yesterday at the National Assembly Complex, the committee expressed displeasure at what it described as open disregard for the authority of the House by key government agencies and financial institutions.

Chairman of the committee, Jamo Aminu, directed the CBN, NIRSAL Microfinance Bank, SunTrust Bank, Stanbic IBTC Bank and the National Bureau of Statistics (NBS) to appear unfailingly before the panel, warning that continued non-compliance would compel the House to invoke relevant constitutional provisions to enforce their appearance.

Consequently, the committee resolved to activate all constitutional mechanisms available to compel the defaulting agencies and financial institutions to appear and submit the required documents.

“On this premise, 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 chairman added.

The panel is probing trillions of naira expended 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 investigation covers major schemes, including 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 the quality of submissions by Jaiz Bank, Unity Bank, Sterling Bank and Access Bank.

Although representatives of the banks were present at the hearing, they failed to submit comprehensive documentation as required by the committee.

The panel subsequently directed that the chief executive officers or appropriate heads of all concerned institutions must personally appear before it. The affected banks were also given one week to submit detailed documentation strictly in line with the committee’s guidelines.

In his opening remarks, the chairman emphasised that the probe was not a witch-hunt but a constitutional duty aimed at promoting transparency, accountability and value for money in public agricultural spending.

He further disclosed that the committee would conduct forensic reviews and on-site inspections of ministries, agencies, banks, and project locations to verify submissions. (The Guardian)

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