The House of Representatives Committee on Nutrition and Food Security has commenced a probe into the N1.12 trillion spent on the federal government’s Anchors Borrowers Programme (ABP).
It is also probing NIRSAL Microficnance Bank for N215 billion spent on agrobusinesses as well as the Bank of Industry (BOI) over N3 billion disbursed to 22,120 smallholder farmers through the agriculture value chain financing programme.
Speaking during the public hearing held on Monday, Chairman of the Committee, Rep. Chike Okafor, raised concerns that of the 24 participating financial institutions (PFIs) who disbursed the amount for the Anchor Borrowers Programme 15 have allegedly failed to provide enough evidence of disbursement to the committee.
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He alleged that there was misuse of government interventions and agricultural funding by departments and agencies in the schemes and programmes of the federal government.
He said, “We are probing how the Central Bank of Nigeria through the Anchors Borrowers Programme disbursed about N1.12 trillion to 4.67 million farmers involved in either maize, rice or wheat farming through 563 anchors.
“The CBN should note, we are aware that you have about 24 participating financial institutions (PFIs) through which you disbursed these humongous amounts. I am also aware that you have written to 24 of them but we have evidence of only nine. So please note. And also some of those PFIs have tried to make contact.
“We are also probing how NIRSAL disbursed N215,066,982,074.50 so far to facilitate agriculture and agribusinesses. And also the Bank of Industry how you disbursed N3 billion to 22,120 smallholder farmers through the agriculture value chain financing programme.
“One of the key oversight mandates of the Committee on Nutrition and Food Security is to ensure proper implementation of interventions programmes by relevant Ministries, Departments and Agencies (MDAs) and agencies of government related to food security and nutrition. Investigations, monitoring of resource allocation, advancement of new laws and strengthening of existing ones among others, on matters related nutrition and food security”.
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