Skip to main content

Food Security: House Of Reps to Investigate ₦2 Trillion Anchor Borrowers’ Scheme Of Buhari Administration

By Anne Ejuka


The House of Representatives 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 decision came after the adoption of a motion sponsored by a member representing Ehime Mbano/Ihitte Uboma/Obowo Federal Constituency, Imo State,  Chike Okafor, who expressed concerns over the escalating food scarcity and malnutrition in Nigeria, amidst alleged mismanagement of agricultural funds.  He highlighted the importance of agricultural funds to ensure the sector’s development.


The motion, which was 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" the honourable member said, “The House notes that the Federal Government, through various schemes and interventions in the last eight years have spent over N2tn in funding agricultural interventions with the view of making food available for millions of Nigerians, but due to the alleged mismanagement, misapplication of funds and abuse of the programs, Nigeria is still experiencing food scarcity and malnutrition.


“The House is aware of the reports and allegations of abuse, mismanagement, and misapplication of government intervention funds earmarked for agricultural development and food security initiatives in Nigeria through the Central Bank of Nigeria, through the Anchor Borrowers Program disbursed about N1.12 trillion to 4.67 million farmers involved in either maize, rice or wheat farming through 563 anchors.


“The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending disbursed N215.067bn to facilitate agriculture and agro-businesses.


“The Bank of Industry disbursed N3bn to 22,120 small holder farmers through the Agriculture Value Chain Financing Programme. Additionally, the bank funded 49 agro and food processing businesses with N59.4 bn in loans.”


He explained that the Federal Government had in 2023, unveiled a ₦5bn loan facility to the Bank of Agriculture for livestock farmers across the country.


“The House is also aware that funds advanced to end users of the Federal Government interventions were allegedly misused, misapplied and channelled to non-farming and non-agricultural purposes, hence the current acute scarcity of food.


“The House is cognizant of the need to investigate government agricultural interventions and funding allocated to departments, agencies, schemes and programmes outside the Federal Ministry of Agriculture and Food Security to ensure transparency, accountability, and effective resource utilisation,” he added


The lawmakers subsequently directed the joint committees on Nutrition and Food Security, Agricultural Production and Services, Agricultural Colleges and Institutions, and Finance to conduct a thorough investigation into the alleged misuse of government interventions and agricultural funding by federal departments, agencies, schemes, and programs outside the Federal Ministry of Agriculture and Food Security.


The committees are tasked with submitting a comprehensive report within four weeks, which will inform further legislative actions.




Comments

Post a Comment

Popular posts from this blog

NAGAFF Petitions IGP Over Alleged Extortion, Harassment by Maritime Police at Lagos Ports

By Anne Ejuka
The 100% Compliance Team of the National Association of Government Approved Freight Forwarders (NAGAFF) has petitioned the Inspector-General of Police (IGP) over alleged unlawful conduct, extortion, intimidation, harassment and obstruction of trade by officers of the Maritime Police Command operating around Nigerian seaports. The petition, dated August 14, 2026 and addressed to the Inspector-General of Police at Force Headquarters, Abuja, specifically identified the Lagos Port Complex, Apapa; Tin-Can Island Port and other designated port locations, including bonded terminals, as areas where the alleged misconduct is taking place. In the petition, which was signed by Alhaji Ibrahim Tanko, the National Coordinator of 100% Compliance Team, NAGAFF described the situation as a growing impediment to trade facilitation and a factor contributing to the rising cost of doing business in Nigeria. According to the association, freight forwarding practitioners have, over a sustained period, repo...
Post a Comment
Read more

NCS Medical Team Trains Apapa Area Command Officers On First Aid

By Anne Ejuka
The Nigeria Customs Service (NCS) medical team yesterday trained officers and men of the Apapa Area Command on basic first aid training. ‎ ‎The Customs Area Controller of the Command, Comptroller Emmanuel Oshoba according to a press release issued by the public relations officer of the command, Superintendent of Customs SC JT Ayagbalo described the initiative as a crucial investment in workplace safety and operational readiness. ‎ ‎In his welcome address, Comptroller Oshoba emphasized that the programme reflects the priority placed on staff welfare by the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR. ‎ ‎He described first aid knowledge as a universal life skill that every adult should possess, especially officers as they are frequently exposed to high-risk operational environments. ‎ ‎ Oshoba noted that simple but timely interventions such as; CPR, bleeding control, choking relief and stroke recognition often determine whether a victim survives, fully recov...
Post a Comment
Read more

NCS Seizes 13 Containers of Unwholesome Imports

By Anne Ejuka
The Nigeria Customs Service (NCS), Apapa Area Command has intercepted 13 containers with over 7.6 tonnes of cannabis sativa, 170,000 bottles of codeine syrup, security-sensitive drones and large quantities of expired consumer and pharmaceutical products. The Comptroller-General of Customs, CGC Bashir Adewale Adeniyi, PhD, MFR, disclosed this during a press briefing held at the Apapa Area Command in the presence of the Customs Area Controller of the command, Comptroller Emmanuel Oshoba and heads of other sister agencies earlier today, 10th September, 2026,  according to CGC, the seized consignments have a combined duty-paid value of ₦43.59 billion. He said the seizures were made as a result of sustained intelligence-led operations supported by enhanced cargo profiling, risk assessment, documentary scrutiny and targeted physical examination. "The containers behind me are not an isolated event and they should not be reported as one;  the Service’s mandate extends beyond revenue c...
Post a Comment
Read more