By Paul Effiong, Abuja
For refusing to appear before lawmakers to clarify the disbursement of N3 billion to farmers under the National Agriculture Development Fund and additional N54.9 billion, the nanaging directors of Bank of Industry, BoI, and 25 deposit banks may be sanctioned by the House of Representatives Committee on Nutrition and Food Security.
Chairman of the committee, Chike Okafor issued the threat yesterday at the rescheduled investigative hearing organised by his committee on the Anchor Borrowers Scheme by the Central Bank of Nigeria, CBN, yesterday in Abuja.
The lawmaker disclosed that the investigation is centred on the alleged misuse of intervention funds of the Central Bank of Nigeria on the Anchor Borrowers Scheme by Ministries, Departments and Agencies, MDAs, and 25 deposit money banks.
He said the investigation is to unravel how the BoI disbursed N3 billion to small holder farmers thorough the CBN intervention funds, adding that the it is determined to ensure full disclosure on allocated funds to government agencies and other institutions.
The committee listed the deposit money bank that have access to funds from the coffers of the CBN but have not provided the committee with the requested documents to include ECO Bank, Excellence Micro-Finance Bank, Fidelity Bank, First City Monument Bank, Guaranty Trust Bank and Heritage bank
Others include Fortis Micro Finance Bank, Polaris Bank, Providus Bank, Stanbic IBTC Bank, Sterling Bank, Trust Micro-Finance Bank, Sun Trust Bank, Union Bank , United Bank for Africa, UBA, Zenith Bank and Keystone Bank.
The CBN governor, Olayemi Cardoso, who was represented by the Acting Director, Development Banking, John Hmman, said some of the banks had paid off their outstanding balance of the funds under investigation.
The committee also insisted on unraveling the identities of the beneficiaries of these funds including the criteria used in selection of the farmers.
Meanwhile, it has threatened to issue a warrant of arrest on the chief executive of any of the deposit money banks that accessed the funds but failed to appear at the next hearing session.
