House Committee Chairman on Nutrition and Food Security, Hon. Chike Okafor, on Tuesday warned that bench warrants may be issued for the arrest of the Managing Director of the Bank of Agriculture, Ayo Sontinrin, and the Director-General of the Agricultural Research Council of Nigeria, Dr. Abubakar Adamu Dabban.
The warning came during the resumed investigative hearing on the alleged misuse of N1.2 trillion meant for agricultural interventions, a matter attracting strong public interest and raising questions about financial transparency and government accountability.
Okafor stated that the Committee will not hesitate to invoke its parliamentary powers if the invited officials continue to ignore summons. He explained that “the Committee held its maiden investigative hearing on April 8, 2025, with the Central Bank of Nigeria in attendance, followed by a second session on June 16, 2025, with both the CBN and participating financial institutions present.” He noted that while some organizations submitted records confirming non-involvement, others “have either ignored us or offered flimsy excuses. This is unacceptable.”
The Bank of Agriculture had claimed that a recent change in leadership was responsible for its absence, but Okafor dismissed the explanation, stressing that the institution remains accountable regardless of internal transitions.
The Committee also examined discrepancies in agricultural loan disbursements involving Prospect Micro-Finance Bank. Its Managing Director, Isaac Inwang, told lawmakers that N14.6 million was disbursed to 30 poultry farmers, with N6 million recovered and held based on CBN instructions. However, the CBN countered that N15.5 million was disbursed and accused the bank of violating guidelines by withholding recovered funds for over three years.
Okafor directed the Micro-Finance Bank to submit all documents and correspondence related to the transactions on Wednesday, November 19, and address identified breaches.
The Committee also cleared the National Agricultural Seeds Council of involvement in the Anchor Borrowers Programme after its Director-General, Alhaji Fatuhu Muhammed, confirmed the agency’s non-participation, a position the CBN supported.
