AGRICULTURAL INTERVENTION FUNDS UNDER SCRUTINY: REPS SUMMON CBN, NBS, BANKS OVER SUBSIDIES & GRANTS

Описание: Nigeria’s agricultural intervention framework is facing renewed legislative scrutiny as the House of Representatives Ad-Hoc Committee on Agricultural Subsidies, Intervention Funds, Aids and Grants Programme tightens its oversight on how billions meant for farmers and agribusinesses are being managed.

In this edition of News Today, we follow developments from the National Assembly Complex in Abuja, where the committee resolved to summon the Central Bank of Nigeria (CBN), the National Bureau of Statistics (NBS), and other relevant financial institutions over concerns surrounding the administration, disbursement, and tracking of agricultural intervention funds.

The resolution was triggered by a motion raised by the committee’s Deputy Chairman, Hon. Sunday Umeha, who expressed frustration at what he described as the casual attitude of key government agencies toward the committee’s invitations—despite multiple official letters requesting their appearance. For lawmakers, the silence raised red flags about transparency and accountability in programmes designed to support food security and economic growth.

Earlier proceedings added to the concern. Financial institutions, including Jaiz Bank, Unity Bank, Access Bank, and others that appeared before the committee, were unable to present critical documents demanded by lawmakers. These included detailed records of fund inflows and outflows, as well as comprehensive data on beneficiaries of the intervention programmes. The lack of documentation prompted the Hon. Jamil Aminu-led committee to reschedule their appearances to a later date, signalling that the probe is far from over.

At the heart of this investigation is a simple but powerful question: Are agricultural subsidies and grants truly reaching the farmers they were designed to support? As Nigeria grapples with food inflation, climate pressures, and productivity challenges, lawmakers insist that every naira allocated to agriculture must be traceable and impactful.

This developing story underscores a broader push by the House of Representatives to ensure that intervention funds move beyond policy headlines and deliver measurable results on farms and in rural communities. Stay with Afia TV as we continue to track the hearings, the documents, and the accountability trail behind Nigeria’s agricultural funding system.

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