House of Rep to Probe Misappropriation of ₦2 Trillion Agricultural Funds

The House of Representatives has initiated an investigation into the alleged misappropriation of over ₦2 trillion disbursed by the Central Bank of Nigeria under the Anchor Borrowers Scheme during former President Muhammadu Buhari’s administration.

This decision follows the adoption of a motion sponsored by Representative Chike Okafor, representing Ehime Mbano/Ihitte Uboma/Obowo Federal Constituency, Imo State. Okafor expressed concerns about rising food scarcity and malnutrition in Nigeria amidst claims of mismanagement of agricultural funds.

In his address during Tuesday’s plenary session, Okafor emphasized the critical role of agricultural funding in developing the sector.

The motion titled “Alleged mismanagement of government’s agricultural initiatives and funding by Departments, Agencies, and Government programmes outside the Federal Ministry of Agriculture and Food Security” highlighted various interventions and schemes where funds were allegedly misapplied.

The House directed joint committees on Nutrition and Food Security, Agricultural Production and Services, Agricultural Colleges and Institutions, and Finance to conduct a thorough investigation. They are mandated to submit a comprehensive report within four weeks to ensure transparency, accountability, and effective utilization of resources in government agricultural programs.