The House of Representatives has launched a decisive investigation to trace over ₦30 billion recovered from the National Social Investment Programme Agency (NSIPA), funds whose continued withholding is paralysing critical social welfare schemes nationwide.
Lawmakers Sound Alarm Over Withheld Billions
During a plenary session on Tuesday presided over by the Deputy Speaker, Dr. Benjamin Kalu, the House adopted a motion expressing grave concern. The motion was sponsored by Rt. Hon. Saidu Musa Abdullahi, representing Bida/Gbako/Katcha Federal Constituency in Niger State.
Abdullahi highlighted that the massive sum was recovered by the Federal Government during its 2024–2025 investigation into alleged financial misconduct at NSIPA. The funds were retrieved from Deposit Money Banks and Payment Service Providers and were meant for key initiatives like TraderMoni, MarketMoni, FarmerMoni, and Grants for Vulnerable Groups.
Suspension, Investigation, and a Stalled Restart
The lawmaker reminded the House that President Bola Ahmed Tinubu initially suspended NSIPA's operations on January 8, 2024 to enable a comprehensive probe. This investigation led to the freezing of billions of naira linked to the agency.
Although President Tinubu lifted the suspension on 21 January 2025, NSIPA has been unable to resume full operations. The primary reason is that the recovered funds have not been returned to the agency's Treasury Single Account (TSA), effectively crippling its ability to function.
Dire Consequences for Millions of Nigerians
In his address, Abdullahi issued a stark warning. He stated that the delay in releasing the funds is directly undermining the Renewed Hope Agenda, with severe consequences:
- Poverty-reduction programmes have been drastically slowed down.
- Small-scale enterprises are being crippled without support.
- Hardship is worsening in both rural and urban communities.
- Public trust in government-led social protection efforts is eroding.
"Millions of vulnerable Nigerians who depend on these interventions are being exposed to prolonged socioeconomic distress," he asserted, adding that the uncertainty around the funds poses serious fiscal and institutional risks.
Ad-hoc Committee Mandated for Swift Action
Responding to this crisis, the House resolved to constitute a powerful Ad-hoc Committee. This committee has a clear four-point mandate:
- To probe the total amount of funds recovered from NSIPA.
- To determine the current location of these funds.
- To identify the individuals or entities holding the money.
- To establish the reasons for the delay in their release.
Furthermore, the committee is tasked with engaging all relevant agencies and securing a clear implementation and disbursement plan from NSIPA for when the funds are finally released. The committee is expected to report back to the House within four weeks to enable swift legislative action and restart the vital social intervention schemes.
