The House of Representatives’ committee on nutrition and food security has invited the Central Bank of Nigeria (CBN), NIRSAL PLC, NIRSAL Microfinance Bank and the Bank of Agriculture to appear before lawmakers as the investigation into the alleged misuse of an estimated N2 trillion in agricultural funding intensifies.

In an invitation letter signed by the committee chairman, Hon Chike Okafor, the CBN, Nigeria Agricultural Insurance Corporation (NAIC), Unity Bank, Ecobank, Keystone Bank, Trust Microfinance Bank, Prospects Microfinance Bank, the Agricultural Research Council of Nigeria (ARCN), the National Agricultural Seeds Council (NASC) and the National Agricultural Land Development Authority (NALDA) have been directed to appear on Tuesday.

The committee also scheduled a session for Wednesday, during which the Bank of Agriculture (BOA), NIRSAL Microfinance Bank and NIRSAL PLC are expected to give evidence.

The House had on Tuesday, 1 July 2025, mandated its committees on nutrition and food security, agricultural production and services, agricultural colleges and institutions, and finance to launch a comprehensive probe into the alleged diversion or mismanagement of federal interventions and agriculture-related funding handled by agencies and programmes outside the Ministry of Agriculture and Food Security.

The committee has so far held two investigative hearings, the first on 8 April and the second on 16 June 2025, with the third phase scheduled for Tuesday and Wednesday. 

Lawmakers say the probe is aimed at improving transparency in Nigeria’s agricultural financing ecosystem, strengthening accountability, and ensuring that funds intended for crop production, food security programmes and rural development actually reach the farmers and communities they are meant to support.

Source: The Authority