Reps probe missing N30bn recovered from NSIPA

The House of Representatives on Tuesday resolved to set up an ad-hoc committee to launch an investigation into the whereabouts of more than N30 billion recovered during the 2024–2025 probe of the National Social Investment Programme Agency (NSIPA), expressing concern that the funds have not been returned to government coffers months after the conclusion of the investigation.

The resolution followed the adoption of a motion of urgent national importance by Hon. Saidu Musa Abdullahi (APC, Niger), who warned that the missing funds were critical to restarting social investment programmes that millions of vulnerable Nigerians depend on.

Abdullahi told the House that NSIPA, which implements key social protection interventions such as TraderMoni, MarketMoni, FarmerMoni, GEEP loans, the National Home-Grown School Feeding Programme (NHGSFP) and Grants for Vulnerable Groups (GVG), has been unable to resume its operations because the recovered funds have not been remitted into its Treasury Single Account (TSA).

He recalled that President Bola Ahmed Tinubu had suspended NSIPA operations on January 8, 2024, to allow security and anti-corruption agencies conduct a thorough investigation into alleged financial infractions within the agency.

He said the investigation led to the tracing, freezing, and recovery of substantial sums from Deposit Money Banks and Payment Service Providers.

“But despite recovery of these funds, credible sources estimate them at over ₦30 billion; NSIPA has not received a single naira back into its designated TSA,” Abdullahi said.

He said that millions of intended beneficiaries remain stranded despite the President lifting the suspension on January 21, 2025.

He said the prolonged non-release of the funds has slowed down poverty alleviation programmes, weakened small businesses, worsened hardship in rural and urban communities, and damaged public confidence in the ‘Renewed Hope Agenda’ of the president.

He also expressed worry that the unclear custodianship and administrative handling of the recovered funds pose fiscal risks, disrupt programme timelines, and could trigger institutional bottlenecks if left unaddressed.

Adopting the motion, the House resolved to constitute an ad-hoc committee with the mandate of tracing all funds recovered from NSIPA, determine their current status and custodians, and identify factors delaying their release.

The committee is to also ngage all relevant agencies for full disclosure on the recovered funds and obtain NSIPA’s implementation and disbursement plan and report back within four weeks for further legislative action.

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