House Probes Whereabout of Recovered NSIPA Funds

Adedayo Akinwale in Abuja

The House of Representatives has resolved to constitute an Ad-hoc Committee to investigate the total funds recovered from the National Social Investment Programme Agency (NSIPA) during the 2024-2025 investigations.

The probe would also determine the current status and custodianship, and also identify any issues delaying their release to the appropriate agencies with the aim of facilitating the prompt recommencement of the social investment programmes.

The resolution of the House was sequel to the adoption of a motion moved at the plenary on Tuesday by Hon. Saidu Abdullahi representing Bida/Gbako/Katcha Federal Constituency of Niger State.

Moving the motion, the lawmaker explained that NSIPA is the statutory institution responsible for implementing the federal government’s flagship social protection programmes.

This include the Government Enterprise and Empowerment Programme (GEEP), National Home-Grown School Feeding Program, (NHGSFP) and the Grant for Vulnerable Groups (GVG) been initiatives strategically designed to lift millions of Nigerians out of poverty, improve nutrition and school enrolment, promote financial inclusion, expand livelihood opportunities for small-scale entrepreneurs, and strengthen national socioeconomic stability.

Abdullahi recalled that on 8th January, 2024, President Bola Tinubu, in a decisive move to uphold accountability and transparency, suspended NSIPA operations for six weeks to enable a comprehensive investigation into alleged financial infractions by relevant security and anti-corruption agencies.

He added the investigation resulted in the tracing, freezing, and recovery of substantial public funds belonging to the agency from Deposit Money Banks and Payment Service Providers, including funds appropriated for Trader Moni, MarketMoni, FarmerMoni, and Grants for Vulnerable Groups which are programmes central to the Renewed Hope Agenda’s commitment to supporting households, petty traders, women, farmers, and vulnerable Nigerians.

Abdullahi said: “Worried that credible sources have indicated that these recovered funds estimated at over ₦30 billion have not been remitted into NSIPA’s designated Treasury Single Account (TSA), thereby stalling programme implementation and leaving millions of intended beneficiaries without the social and economic support envisioned by the federal government.”

He expressed concern that the prolonged non-release of these funds undermines the Renewed Hope Agenda by slowing down poverty alleviation efforts, weakening small-scale enterprises, exacerbating hardship in rural and urban communities, delaying local economic stimulation, and eroding public trust in the government’s social protection commitments.

The lawmaker lamented the continued uncertainty over the exact location, custodial status, and administrative handling of the recovered funds poses fiscal risks, disrupts programme timelines, and might create institutional bottlenecks across related national social intervention initiatives.

Abdullahi noted that despite the Presidential approval lifting the suspension on NSIPA operations on 21st January 2025, the agency has been unable to resume full implementation of its programmes allegedly due to the non-availability of recovered funds expected to have been released thereby exposing millions of Nigerians to prolonged socioeconomic distress.

The House resolved to: “Constitute an Ad-hoc Committee to investigate the total funds recovered from NSIPA during the 2024–2025 investigations, determine their current status and custodianship, and identify any issues delaying their release to the appropriate agencies with the aim of facilitating the prompt recommencement of the social investment programmes.”

The House also mandated the Committee to engage with the relevant agencies to obtain all necessary information and clarifications relating to the recovered funds and also obtain a clear implementation and disbursement plan from NSIPA showing how the recovered funds will be utilised once released.

It further mandated the Ad-hoc Committee to report back to the House within four weeks for further legislative action.