The House has vowed to investigate the alleged misappropriation of over ₦2 trillion disbursed by the Central Bank of Nigeria through its Anchor Borrowers Scheme under former President Muhammadu Buhari’s tenure.
The motion, sponsored by Representative Chike Okafor, alleges that funds meant for agricultural development and food security initiatives were misused, misapplied, and channelled to non-farming purposes, contributing to food scarcity and malnutrition in Nigeria.
The investigation will look into funds disbursed by various agencies, including the Central Bank of Nigeria, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, Bank of Industry, and Bank of Agriculture, totaling over ₦2 trillion.
The joint committees on Nutrition and Food Security, Agricultural Production and Services, Agricultural Colleges and Institutions, and Finance have been directed to conduct a thorough investigation and submit a comprehensive report within four weeks.