The House of Representatives on Tuesday established an ad-hoc committee to investigate the disappearance of over N30 billion recovered during a 2024-2025 probe into the National Social Investment Programme Agency (NSIPA), as the funds remain unremitted to government accounts, stalling vital poverty alleviation initiatives.
The decision came after adopting a motion of urgent national importance sponsored by Hon. Saidu Musa Abdullahi (APC, Niger), who highlighted that the missing money has prevented NSIPA from resuming operations, leaving millions of vulnerable Nigerians without support.
NSIPA oversees key programs including TraderMoni, MarketMoni, FarmerMoni, GEEP loans, the National Home-Grown School Feeding Programme (NHGSFP), and Grants for Vulnerable Groups (GVG).
Operations were suspended by President Bola Ahmed Tinubu on January 8, 2024, to facilitate investigations into alleged financial misconduct by security and anti-corruption agencies.
The probe resulted in the recovery of substantial sums from banks and payment providers, estimated at over N30 billion. However, despite the suspension being lifted on January 21, 2025, none of the funds have been returned to NSIPA's Treasury Single Account (TSA), according to Abdullahi.
He warned that the delay has exacerbated hardships in communities, undermined small businesses, and eroded trust in the president's "Renewed Hope Agenda."
Additionally, the unclear custody of the funds raises risks of fiscal mismanagement and institutional delays.
The ad-hoc committee is tasked with tracing the recovered funds, ascertaining their current status and custodians, identifying reasons for the non-release, and consulting relevant agencies.
It must also review NSIPA's implementation plans and submit a report within four weeks for further legislative action.
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