Reps probe whereabouts of N30bn recovered from NSIPA

The House of Representatives on Tuesday resolved to set up an ad-hoc committee to investigate the whereabouts of more than N30 billion recovered during the 2024–2025 probe of the National Social Investment Programme Agency (NSIPA). Lawmakers expressed concern that months after the investigation ended, the funds have not been returned to government coffers. The resolution followed a motion by Saidu Musa Abdullahi (APC, Niger), who warned that the missing funds were crucial for restarting social investment programmes relied upon by millions of vulnerable Nigerians. Abdullahi noted that NSIPA, which oversees 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 operations because the recovered funds have not been remitted into its Treasury Single Account (TSA). He recalled that President Bola Ahmed Tinubu suspended NSIPA operations on January 8, 2024, to allow security and anti-corruption agencies investigate alleged financial infractions. The probe led to the tracing, freezing, and recovery of significant sums from Deposit Money Banks and Payment Service Providers. “Despite the recovery—credible sources estimate it at over N30 billion—NSIPA has not received a single naira into its TSA,” Abdullahi said. He added that millions of beneficiaries remain stranded despite the President lifting the suspension on January 21, 2025. He also expressed concern about unclear custodianship of the funds, which he said poses fiscal risks and disrupts programme timelines. Adopting the motion, the House mandated an ad-hoc committee to trace the funds, determine their custodians, assess reasons for the delay, engage relevant agencies, and obtain NSIPA’s disbursement plan. The committee is to report back within four weeks.

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