Reps to Compel CBN, Banks in Agric Probe

By Oluwakemi Kindness

The House of Representatives Ad-hoc Committee probing Agricultural Subsidies, Intervention Funds, Aids and Grants from 2015 to 2025 has warned key government agencies and financial institutions that it will invoke constitutional powers to compel their appearance following what it described as a persistent disregard for parliamentary invitations.

At its investigative hearing on Wednesday, the Committee ordered the Central Bank of Nigeria (CBN), NIRSAL Microfinance Bank, SunTrust Bank, Stanbic IBTC Bank, and the National Bureau of Statistics (NBS) to appear without fail, insisting that their continuous refusal undermines legislative oversight.

Chairman of the Committee, Jamo Aminu, expressed deep frustration over the repeated absence of several invited institutions.

“It is disheartening that despite repeated invitations from the House of Representatives to government agencies, including United Nations–linked agencies, some have refused to appear or have outrightly ignored this investigative process,” he said.

He subsequently moved a motion for the committee to activate all constitutional mechanisms that compel appearance and enforce compliance.

Committee Reviewing Trillions Spent on Agric Schemes

The investigation covers trillions of naira spent on major agricultural interventions by the Federal Government and the CBN between 2015 and September 2025.

The programmes include:
• Anchor Borrowers’ Programme (ABP)
• AGSMEIS
• Accelerated Agricultural Development Scheme (AADS)
• Nigerian Electricity Stabilisation Fund (NESF)
• Other intervention windows

The probe was initiated following a House resolution on 23 July 2025.
Banks Present but Submissions Inadequate

Although Jaiz Bank, Unity Bank, Sterling Bank and Access Bank were present at the hearing, the Committee criticised their submissions, describing the documents as incomplete and non-compliant with the required format.

The Committee directed that the chief executives of all concerned institutions must personally appear and gave one week for full documentation to be submitted.

“This Committee will not accept half-truths, cosmetic compliance or administrative evasions,” Aminu warned, adding that any falsified or misleading records would attract sanctions under Sections 88 and 89 of the 1999 Constitution.

“Not a Witch-Hunt” — Committee Chair

Aminu stressed that the probe is aimed at ensuring accountability in public spending, not targeting any institution.

“Our focus is not merely on how much was released, but how the funds were applied, who benefited, what was achieved, and what value accrued to the Nigerian people.”

He added that the panel will carry out forensic reviews and on-site inspections to verify the existence and impact of the projects funded.