Reps threaten arrest of BOA MD, ARCN DG over N1.2tr agric intervention probe

The Chairman of the House Committee on Nutrition and Food Security, Hon. Chike Okafor, on Tuesday threatened to issue bench warrants for the arrest of the Managing Director of the Bank of Agriculture (BOA), Ayo Sontinrin, and the Director-General of the Agricultural Research Council of Nigeria (ARCN), Dr. Abubakar Adamu Dabban.

Okafor made the threat during the resumed investigative hearing on the alleged misuse of N1.2 trillion allocated for agricultural interventions, warning that failure to appear at the hearings would compel the Committee to invoke its parliamentary powers.

“The Committee held its maiden investigative hearing on April 8, 2025, with the Central Bank of Nigeria (CBN) in attendance, followed by a second session on June 16, 2025, with both the CBN and participating financial institutions (PFIs) present,” he said. “While some organizations have honored our invitations and provided verifiable records to show non-involvement, others have either ignored us or offered flimsy excuses. This is unacceptable.”

The BOA had cited the appointment of a new MD as its reason for non-attendance, but Okafor rejected this excuse, noting that the bank is an ongoing institution and the change in leadership does not absolve it of the responsibility to appear before the Committee.

The Committee also demanded documents and correspondence between Prospect Micro-Finance Bank and the CBN concerning a discrepancy in disbursed agricultural funds. The bank’s MD, Mr. Isaac Inwang, had claimed that N14.6 million was disbursed to 30 poultry farmers, with N6 million recovered and held pending further CBN instructions.

The CBN, however, contended that N15.5 million was disbursed and accused the bank of breaching guidelines by retaining recovered funds for over three years.

Okafor directed the Micro-Finance Bank to submit the requested documents on Wednesday, November 19, and to provide clarifications on observed breaches.

Meanwhile, the Committee cleared the National Agricultural Seeds Council (NASC) of any wrongdoing. Its DG, Alhaji Fatuhu Muhammed, confirmed that the agency did not participate in the implementation of the Anchor Borrowers Programme, a position corroborated by the CBN. The Chairman commended the DG for cooperating with the Committee.

Recall that on July 1, 2025, the House mandated its Committees on Nutrition and Food Security, Agricultural Production and Services, Agricultural Colleges and Institutions, and Finance to investigate alleged mismanagement of federal agricultural interventions outside the Federal Ministry of Agriculture and Food Security.